FMO, as the Dutch entrepreneurial development bank, focuses its venture capital investments on generating both attractive financial returns and meaningful development impact. Its strategy involves direct and indirect investments in early-stage, tech-enabled companies and venture capital funds, primarily within the financial institutions, energy (including off-grid and clean tech), and agribusiness (including agritech) sectors in Africa, the European Neighborhood, and parts of Asia.
56% of their portfolio is in Fintech. Their most common stage is series-b (44% of deals). Average disclosed round size is $57.4M (across 15 rounds with reported amounts).
Portfolio
16
Fund Size
$12.3B
Top Stage
Series B
Last 12 Mo
0
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
16 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 BE C&I Solutions Holding Pte. Ltd. (BECIS) | Unknown | $53M | Dec 2024 |
| HHUB2 | Series A | $8.5M | Dec 2024 |
| FFido | Series B | $30M | Sep 2024 |
| OOkra Solar | Series A | $12M | Sep 2023 |
 M-KOPA | Growth | $250M | May 2023 |
 TeamApt | Series B | — | Aug 2022 |
 Paymob | Series B | $50M | May 2022 |
 DeHaat | Series D | $115M | Oct 2021 |
| Paymob | Series A | $18.5M | Apr 2021 |
| DeHaat | Series C | $30M | Jan 2021 |
| VValidus | Series B | $20M | May 2020 |
| DeHaat | Series A | $12M | Apr 2020 |
 Yoco | Series B | $16M | Sep 2018 |
 Bridge | Series B | $24M | Mar 2013 |
 Moniepoint | Series C | $200M | — |
| Paymob | Series B | $22M | — |
Top Co-Investors
British International Investment4 shared
A153 shared
Endeavor Catalyst3 shared
Lightrock3 shared
Sequoia Capital India3 shared
Novastar Ventures2 shared
PayPal Ventures2 shared
Nclude2 shared
Prosus Ventures2 shared
Sequoia Capital2 shared
RTP Global2 shared
Omnivore2 shared
Agfunder2 shared
Partech1 shared
CDC Group1 shared
Soma Capital1 shared
Kepple Africa1 shared
Oui Capital1 shared
TLcom Capital1 shared
Enza Capital1 shared
Last updated: 12 April 2026