Goodwell V

Goodwell Investments BV is a private equity and venture capital firm based in Amsterdam, Netherlands, with additional offices in Cape Town, South Africa, and Nairobi, Kenya. Established in 2005, the firm specializes in seed and early-stage investments primarily within the Fintech sector, as well as in other impact sectors such as healthcare, renewable energy, and agriculture. Goodwell targets small and medium-sized enterprises in India and Sub-Saharan Africa, with a particular focus on Ghana and Nigeria. It seeks to invest in financially sustainable and scalable companies that provide basic services, making equity investments with a minimum commitment of €250,000. The firm aims to hold its investments for five to ten years and typically takes minority stakes in its portfolio companies, seeking board representation and offering advisory services on sustainable business practices. Goodwell Investments is dedicated to generating both significant financial returns and positive social impact.

Wim Beek

Founder and Managing Partner

Nathan Cheruiyot

Investment Associate

Judith Ngonyo

Investment Manager

Anne Ngugi

Senior Investment Manager

Lilian Oyando

Associate Partner

Past deals in East Africa

Copia Global

Series C in 2022
Copia Global is an e-commerce company based in Nairobi, Kenya, that focuses on providing a consumer catalog order and delivery system for middle to low-income individuals in developing regions. Founded in 2013, the company enables users to browse products and place orders through a mobile application, which also allows local shopkeepers to manage orders and payments via a mobile payment system. By leveraging mobile technologies and a network of local agents, Copia Global facilitates access to a wide range of quality goods for rural and peri-urban consumers. This innovative approach ensures that individuals without reliable internet access can still make purchases and receive products conveniently, ultimately empowering them as consumers.

Asante

Series A in 2021
Asante Financial Services Group is a company that focuses on facilitating financial independence for businesses and individuals. Their products and services is designed to include loans, payments, deposits, investment and insurance-related products, and asset management products and services, to cater to the needs of African businesses and individuals.

Chicoa Fish Farm

Venture Round in 2021
Chicoa Fish Farm, established in 2017 and located in Maputo, Mozambique, is dedicated to producing and supplying tilapia fish. The company operates as a sustainable fish farming enterprise, aiming to enhance the aquaculture industry in the region. Chicoa Fish Farm emphasizes offshore breeding and careful genetic selection, coupled with sustainable husbandry practices. These methods not only provide a nutritious and scalable protein source but also demonstrate low feed conversion ratios. This approach enables small-scale farmers to achieve cost-effective and environmentally friendly fish production, contributing to a low carbon footprint and promoting sustainable aquaculture practices in Mozambique.

Chicoa Fish Farm

Series A in 2020
Chicoa Fish Farm, established in 2017 and located in Maputo, Mozambique, is dedicated to producing and supplying tilapia fish. The company operates as a sustainable fish farming enterprise, aiming to enhance the aquaculture industry in the region. Chicoa Fish Farm emphasizes offshore breeding and careful genetic selection, coupled with sustainable husbandry practices. These methods not only provide a nutritious and scalable protein source but also demonstrate low feed conversion ratios. This approach enables small-scale farmers to achieve cost-effective and environmentally friendly fish production, contributing to a low carbon footprint and promoting sustainable aquaculture practices in Mozambique.

Good Nature Agro

Series A in 2020
Good Nature Agro is a social enterprise based in Chipata, Zambia, dedicated to supporting small-scale farmers. Established in 2014, the company facilitates a community-driven approach by enabling groups of farmers to nominate a Private Extension Agent (PEA) from among themselves. These PEAs receive training to enhance their problem-solving skills and agronomic knowledge, allowing them to provide tailored support and training to fellow farmers during the growing season. Good Nature Agro supplies quality legume seeds and offers farmer-friendly loans to improve productivity. At harvest time, the company guarantees a market for the certified legume seeds produced by these farmers, encouraging them to focus on high-value crops, which significantly boosts their income compared to traditional cash crops like maize and cotton.

SparkMeter

Series A in 2020
SparkMeter, Inc. specializes in electricity metering systems tailored for rural and urban utilities in developing markets. Founded in 2012 and headquartered in Washington, D.C., with an additional office in Nairobi, Kenya, the company offers a range of products including smart meters designed for residential, commercial, and industrial applications. SparkMeter's solutions facilitate prepaid billing, enhance customer communications, and enable remote monitoring and control, thereby improving grid efficiency and asset performance. By integrating their metering technology with software solutions, SparkMeter enables microgrids and distribution utilities to optimize operations, providing reliable electricity access in underserved areas. This approach not only supports the expansion of electricity distribution but also fosters investments in renewable energy and energy efficiency.

EA Fruits Farm

Series A in 2020
EA FRUITS FARM & COMPANY is a business that engages in large production and distribution of fruits and vegetables. As fruits are an essential part in a human’s diet for maintenance of good health and wellbeing, the business will take part in providing the opportunity for Tanzanian citizens and other people overseas to get such fruits and motivate more people to increase their intake of fruits where by the company will strive to increase the supply to match the increasingly demand for fresh fruits and vegetables. The business envisions to be among the leading producers, distributors and exporters of the fruits within the Country and overseas. The company is a highly profitable and viable business that expects to rise to about 5,000 USD from its current small scaled operations, while more than 450,000 USD will be raised as a result of further expansion within a period of 2-4 years.

East Africa Fruits

Series A in 2020
East Africa Fruits Co. distributes fresh fruits, vegetables, and grains to retailers, wholesalers, local vendors, cafes, hotels, and exporters. The company buys fruits and vegetables from small holders farmers and process them by cleaning, sorting, packing, and marketing. It integrates sellers with buyers and supports smallholder farmers on crop planning in alignment with marketplaces. The company also provides delivery services. East Africa Fruits Co. was founded in 2013 and is based in Dar es Salaam, Tanzania.

Copia Global

Series B in 2019
Copia Global is an e-commerce company based in Nairobi, Kenya, that focuses on providing a consumer catalog order and delivery system for middle to low-income individuals in developing regions. Founded in 2013, the company enables users to browse products and place orders through a mobile application, which also allows local shopkeepers to manage orders and payments via a mobile payment system. By leveraging mobile technologies and a network of local agents, Copia Global facilitates access to a wide range of quality goods for rural and peri-urban consumers. This innovative approach ensures that individuals without reliable internet access can still make purchases and receive products conveniently, ultimately empowering them as consumers.

Sendy

Series B in 2019
Sendy Ltd. is a logistics platform based in Nairobi, Kenya, founded in 2014. The company specializes in providing on-demand door-to-door delivery services tailored for businesses of all sizes, including small, medium, and large enterprises. Through its user-friendly web platform, Sendy enables businesses to schedule, track, and pay for deliveries efficiently. The platform connects users with multiple transporters, allowing manufacturers and distributors to optimize their logistics operations. Additionally, Sendy offers features such as cashless payments and reporting tools, helping businesses manage their logistics more effectively and reduce costs.

Copia Global

Venture Round in 2019
Copia Global is an e-commerce company based in Nairobi, Kenya, that focuses on providing a consumer catalog order and delivery system for middle to low-income individuals in developing regions. Founded in 2013, the company enables users to browse products and place orders through a mobile application, which also allows local shopkeepers to manage orders and payments via a mobile payment system. By leveraging mobile technologies and a network of local agents, Copia Global facilitates access to a wide range of quality goods for rural and peri-urban consumers. This innovative approach ensures that individuals without reliable internet access can still make purchases and receive products conveniently, ultimately empowering them as consumers.

Musoni BV

Private Equity Round in 2016
Musoni BV came about as a result of the experience gained by members of the Musoni BV team working in the field of mobile banking and microfinance in East Africa. Prospective Client Working with existing MFIs, the team was successful in rolling out the first partnerships between mobile money transfer services and MFIs in both Kenya (2008) and Tanzania (2009). These early pilot programmes demonstrated the potential in introducing innovative new technologies to the microfinance industry, and were the inspiration behind setting up an MFI that would be completely cash-free, utilizing mobile money for all loan repayments and disbursements as well as the depositing and withdrawing of savings. In September 2009, after almost a year of preparations, Musoni BV was founded. By May 2010, Musoni Kenya had disbursed its first loan and at the end of 2011 Musoni Kenya had established five branches and successfully disbursed over 10,000 loans. In the year 2011 Musoni Kenya lent more than $2m to micro entrepreneurs. In July 2011 Musoni BV won the award for most innovative use of technology granted during the Global Microfinance achievement Awards in Geneva. Musoni BV is now looking to build upon its experience to develop and roll-out its innovative model to new markets, while continuing to provide high quality support to Musoni Kenya.
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