Africa-focused VC firm Acuity has launched operations, operating with a data-driven approach that enables smart investment decisions and supports investee company growth.
Formally launched in January, Acuity has its roots in another fund, Singularity Investments. Launched by Lexi Novitske in 2014 to invest in early-stage technology companies across Sub-Saharan Africa, Singularity was backed by private investor Issam Darwish and made a host of investments.
In 2018, Novitske acquired the Singularity portfolio – which includes the likes of Paystack, Migo and mPharma – and proceeded to form a new company, which has taken shape as Acuity. The company has executed six deals this year, investing in OnePipe, Mono, Lemonade, Send, Indicina and Spektra, utilising its in-house data science team for value creation.
Acuity says it has built a platform providing a leading value proposition for its investee companies and investors, including a strong investment track record, smart decision making and investee company support through the use of data science, a truly local presence, and expertise in helping businesses drive growth.
“Accurate data insight is at the heart of our operation. Acuity doesn’t make investments based on our gut, and we don’t believe exceptional company growth comes from hard work alone. Through our expertise in strategy, governance, talent management, and analytics, we empower entrepreneurs who are solving Africa’s most important problems. We believe in smart decisions driven by data,” Novitske said.