A pioneering and innovative woman owned and led growth equity fund closing gender gaps in Africa

About Us

Aruwa Capital Management is a Lagos based, female founded and led, growth equity impact fund. As one of the few woman owned funds in Africa, Aruwa has identified a significant untapped investment opportunity, investing in rapidly growing and profitable companies that either provide essential goods and services to women or employ women through their workforce or value chain.

Aruwa Capital Management was founded on the conviction that the gender imbalance amongst capital allocators on the continent, provides a unique opportunity to invest in untapped segments of the economy whilst closing gender economic gaps across society and generating enhanced returns.

With few private equity funds owned or led by a woman in Africa, Aruwa Capital Management aims to change the narrative for women as capital allocators, entrepreneurs, consumers and stakeholders in Africa and globally.

The team based is led by the Founder, Adesuwa Okunbo Rhodes and combines international best practice skill sets from global institutions with deep local networks, operational know how and on the ground presence, to unlock untapped investment opportunities. The team is made up of investment professionals with investing experience and operators that understand how to run and improve businesses.

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The Opportunity

Our Approach

We focus on investing in established, rapidly growing and profitable companies in the small to lower mid-market that operate in high-growth industries and companies that meet the following criteria:

  • Provides goods and services that cater to women or;
  • Employs women within its workforce, senior management team or value chain;
  • Proven management team with a history of delivering the underlying business plan;
  • Has an annual turnover of at least $500k - $1 million; and
  • Holds a positive attitude towards, and the active support of, a diverse team

In the News

GenderSmart Investing Summit – Supporting First-Time Women and Diverse Fund Managers

Aruwa Capital Management invited to speak at the GenderSmart Investing Summit on a panel to discuss practical solutions to support investments into first time women and diverse fund managers. Fellow panelists were industry leading LPs such as CDC, Gratitude Railroad and Visa Foundation. The session moderated by VC Include.

February 2021

African Women in Family Business Conference

Aruwa Capital Management invited by African Family Firms to provide a keynote on "Capital raising for female founded firms" at the inaugural African Women in Family Business Conference.

January 2021


Adesuwa featured in Buyside Power Women series

Adesuwa was invited by Lynk Global to feature in its Buyside Power Women series. Buyside Power Women produces profile stories of women leaders in the pivate equity, hedge fund and LP spaces. The purpose of Buyside Power Women series is to increase visibility of women leaders on the buyside, and facilitate open discussions about how diversity is shaping or should shape the buyside and highlight and push for more female money managers.

November 2020


100 Women in Finance: Your Career Ladder and Succession Planning: A Two-Way Perspective

Aruwa Capital Management was invited by 100 Women in Finance, a global industry association for professionals who work in the alternative investment and broader finance industry and law firm Winston & Strawn LLP, to discuss how asset management firms are planning succession in the era of remote working. HRH The Countess of Wessex provided the opening remarks for the session.

September 2020

Aruwa Capital Management featured in PEI Africa Special Report

Aruwa Capital Management has been featured in Private Equity International’s recent Africa Special report alongside leading voices within private equity in Africa.

August 2020


Adesuwa named as one of the Top 35 Women Moving Africa Forward

The list spotlights 35 women in Africa who are thriving and influencing developments in the areas of politics, socio-economic development, health, education, technology, finance, and culture.

July 2020


Black Women in Asset Management webinar on Black Women Funds

Aruwa Capital Management invited by Black Women in Asset Management to share on its experience on a panel, being one of the few black women owned funds globally.

July 2020

Aruwa featured in Project Sage 3.0, global gender lens investing report

Aruwa Capital Management is one of the 14 funds interviewed globally and one of the 138 funds featured in this report highlighting the state of gender lens investing globally.

July 2020


Aruwa Capital Management AVCA member profile (pdf)

African Private Equity and Venture Capital Association speaks to Adesuwa on the firm's ethos, investment model, investment wins and hopes for Africa's private capital industry's future.

April 2020

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AVCA: Uniting Against the Impacts of COVID-19: Fund Manager Perspectives

Aruwa Capital Management invited by the African Private Equity and Venture Capital Association to share its perspectives on COVID-19 and its impact on its portfolio and the investing environment.

April 2020

Africonomie: How Africa Private Equity & Credit Funds are Responding to COVID-19

Aruwa Capital Management invited by the Africonomie Group to share on its perspectives on COVID-19 and its impact on its portfolio, fundraising and the investing environment

April 2020

Adesuwa named in Leading Ladies Africa Top 100

Adesuwa included in the 2020 Leading Ladies Africa Top 100 list, joining the ranks of other incredible women in Nigeria impacting the world and pushing boundaries.

March 2020

VC Include & Skoll Foundation: Investing in Diverse Fund Managers (video)

Aruwa Capital Management invited by VC Include and Skoll Foundation to participate in a webinar amongst selected GPs and LPs to shed light on some of the challenges, opportunities, and new models that stakeholders have developed to drive innovation, gender parity and higher returns in the VC, Impact, and Private Equity space.

March 2020


SEO Alternative Investments Conference with Private Equity Women Investor Network (video)

Aruwa Capital Management attends the Sponsors for Educational Opportunity Alternatives Investment Conference, a conference aimed at increasing access for professionals from backgrounds traditionally underrepresented in the alternative investments space. On the sidelines, Adesuwa caught up with Private Equity Women Investor Network, a member network of senior women within PE on the challenges of fundraising as a woman of colour and the importance of creating our own tables.

March 2020


Aruwa invests into Wemy Industries (pdf)

Aruwa Capital Management completes first investment in Nigeria’s first and only indigenous personal hygiene company. Wemy manufactures high quality and affordable daily disposable personal hygiene products mainly for women, girls, and babies, including sanitary pads, maternity pads, baby diapers, and wipes.

October 2019

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Contact Us

14 Adeyemi Lawson, Ikoyi, Lagos, Nigeria
6th floor, Tower A, 1 Cybercity, Ebene, Mauritius