At Consonance,

We invest in technology-driven entrepreneurs to drive economic growth in Africa.

We provide funding and support to develop innovative solutions, creating new markets for sustainable growth. Our team has a proven track record of success and the experience, network, and resources necessary to help our portfolio companies succeed.
Founded in

We are on a mission

By investing with us, you are investing in Africa's future

We promote national prosperity and nation building by backing entrepreneurs building along the foundational pillars of national prosperity - Human Capital , Social Capital, Digital Assets, Real Assets and Financial Technology.
We believe technology and technology-enabled enterprises are best to scale the solutions
The highest form of which civilization can reach is a seamless web of deserved trust. Not much procedure, just totally reliable people correctly trusting one another.
- Charlie Munger

Our Guiding Principles

Our thesis for Fund 1

"Trust, Collaboration, and Innovation Infrastructure"

Companies that enable trust, collaboration, and innovation are foundational to every economy and help to drive economic growth, improve access to services, and enhance social and economic development, all while achieving high returns on investment.

Collaboration is essential for building and sustaining any valuable enterprise. It involves the people, their business practices, intellectual capital, and relationships. Trust, on the other hand, is the glue that ultimately attracts and sustains human and financial capital. Innovation is the commitment to continuous improvement, optimism, adaptability, and an excellent customer experience. Many of the companies we plan to support are, in essence, "Trust, Collaboration and Innovation Infrastructure." Research has shown that digital trust and collaboration infrastructure can drive economic growth by facilitating transactions between parties who do not have a pre-existing relationship, thus increasing efficiency and productivity. For example, digitization and automation have the potential to increase transparency and accountability in supply chain management, reducing costs and increasing trust between parties.

In addition to driving economic growth, these infrastructure can also improve access to services and enhance social and economic development. For example, digital identity infrastructure can help increase access to healthcare, education, and financial services. The GSM Association reports that more than half of people in Africa lack a recognized form of identification and are therefore excluded from the formal economy.

Furthermore, market-organizing marketplaces can help increase transparency and accountability in sectors such as agriculture, retail, and finance. Examples of companies that embody our theme include Verifyme/QoreID, AFEX, ANKA, TractionApps, EMTECH, OnePort, CuracelAI, Norebase, LAMI, Knabu, SeamlessHR, Releaf, Talent Exchange and Medixus.

The highest form of which civilization can reach is a seamless web of deserved trust. Not much procedure, just totally reliable people correctly trusting one another.
Charlie Munger
As we move forward, our goal is to earn the trust and respect of entrepreneurs and limited partners, and be their first choice for long-term partnerships and high returns.

Our thesis for Fund II

"Broad-based Wealth Creation"

In Fund II, our primary focus will be to invest in data-driven companies that leverage technology to drive broad-based wealth creation in Africa. We believe that investing in the foundational pillars that will enable a significant portion of the African population to build wealth is the most crucial use of capital on the continent.

The search for low-hanging fruits may ultimately prove to be fool's gold, and instead, the hard work of true nation-building should be the key focus as we aim to increase the purchasing power of a larger portion of the African population, which in turn creates a larger market for goods and services. A study by the International Monetary Fund found that for every 1% increase in the income share of the bottom 40% of the population, GDP growth increased by 0.38%, while a 1% increase in the income share of the top 60% resulted in a 0.08% increase in GDP growth. From a Total Addressable Market (TAM) perspective, companies that focus on broad-based wealth creation offer a large market with room for scalability, growth, and profitability.

We have identified several key areas where technology is driving access to wealth creation and democratization, such as digital payment systems, credit infrastructure, and financial education and literacy. Additionally, we focus on companies that use technology to create new income opportunities or markets, such as those in the creative & gig economy, online marketplaces, and scalar retail. Furthermore, we are interested in companies that use technology to drive cost efficiencies and create value in industries that have been traditionally underserved by technology, such as food and agriculture, logistics, and manufacturing supply chains.

Exploiting unrecognized simplicities
Charlie Munger
Other opportunities we have identified include access to quality healthcare, financial market infrastructures, digitization of regulations and compliance delivery, digitization of the informal economy, etc.
Sustainable broad-based wealth creation is the single most important use of capital in a developing and/or poor country. When allocating capital in Africa, investors must ask the question “how does this investment create broad-based wealth as that is ultimately the source of investment returns.

Portfolio Impact

Alignment with Africa’s well-being

Our portfolio strategy is designed to align with the pillars of national prosperity, which comprise human capital, social capital, digital infrastructure, real assets, and access to capital / financial innovation.
We provide funding and support to develop innovative solutions, creating new markets for sustainable growth. Our team has a proven track record of success and the experience, network, and resources necessary to help our portfolio companies succeed.

National Prosperity Framework

National Prosperity is more than just the accumulation of material wealth, but also is the joy of everyday life and the prospect of being able to build an even better life in the future
The national prosperity framework practicalizes the VC guiding principles; it helps identify investments that provide sustainable, far-reaching solutions and benefits that will empower Africans and African communities, and provide very attractive returns to our partners in the following sectors:

Financial Innovation

Financial Market Infrastructures
Treasury and Financial Mgmt Tools
Credit Infrastructure
Cross-border Payment

Human Capital

Education / EdTech
Skill Acquisition Platforms
Productivity Tools / Artificial Intelligence
Healthcare / HealthTech

Social Capital

Legal Service delivery / Legaltech
Property Rights
Regulations / Compliance Delivery / RegTech
Culture and Media / Creative Economy Tech
Security and Defense Tech

Real Assets

Renewable Energy
Future of Food
Logistics and Linkages

Digital Infrastructure

Mobile telecom and digital communication suites
Data centers and networks
Enterprise portals, platforms, systems, and software
Cloud services and software
Operational security, user identity and data encryption
Artificial Intelligence

Core Principles

Build with us

Our team is the foundation of Consonance. We believe in quality and inclusive teams, both internally and externally.  Ideally what we look for in people and teams are – Integrity, Intellectual Curiosity, Intellectual Independence, Intellectual Honesty, Grit and Empathy.

Long-Term Orientation

Consonance is a long-term investor. The team focuses its involvement on initiatives that will create sustainable value; demonstrating fortitude and perseverance during challenging times.

Hands-On Value Investors

We apply the ethos of value investing in all our positions, creating value directly through interventions and partnerships deployed to achieve scale, improve competitive position, drive growth and enhance financial performance.

Client Service & Appreciation

While we believe it is a privilege to deploy capital on behalf of our clients, we strive daily to show appreciation by paying dedicated attention to our clients’ needs.


“It’s not about the format but the essence.” At Consonance, we invest in companies that we truly believe make sense, run by open-minded people we respect, and that can compound capital over a long stretch of time.