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Safaricom Spark Fund | MsingiLab

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Corporate VCClosedExpired

Safaricom Spark Fund

Up to $500,000

ExpiredWebsiteEst. 2014

EquityMobile TechnologyFinTechAgriTechHealthTechIoTM-Pesa EcosystemSeedEarly Growth

Moderate Gender LensModerate Climate Lens

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Safaricom Spark Fund invests in for-profit, tech-enabled startups at late-seed or early-growth stage with a presence in Kenya. It provides equity or quasi-equity investment of up to $500,000, alongside business development support, technical assistance, and post-investment support from an internal Safaricom deal team. The fund prioritizes companies in agriculture, education, and healthcare, and requires a working mobile-based product or service, active users, revenue, and a signed or discussed partnership with Safaricom.

What You Get

Investment

Safaricom allocated an additional $5 million to the fund to invest up to $500,000 into tech-enabled start-ups that are strategically aligned with Safaricom’s purpose.

Business development support

The fund will support startups through a combination of investment, business development support and technical assistance leveraging on Safaricom’s unique capabilities, assets and market positioning.

Technical assistance

The fund provides technical assistance leveraging Safaricom’s unique capabilities, assets and market positioning.

Post-investment support

Following investment approval, Safaricom will appoint an internal deal team to provide post-investment support.

How to Apply

Applications are sourced and managed by the Fund Manager, S&B Ventures, based in Kenya. S&B Ventures sources deals, performs due diligence, and recommends investments. Selected startups are then presented to the Investment Committee and Board of Trustees for funding consideration. Following investment approval, funds are disbursed and Safaricom appoints an internal deal team to provide post-investment support. Contact via email: spark@africatechventures.co.

Warm Intro

Recommended but not required

Geographic Focus

Kenya

Decision Timeline

Accelerator: 6-12 weeks. Direct investment: 4-8 weeks.

Key Dates

2014-01-01Safaricom started the first Corporate Venture Fund in East Africa – the Spark Venture Fund.

2020-01-01Safaricom allocated an additional $5 million to the fund.

2020-12-30Application deadline

Eligibility

Tech-enabled startup
Late-seed or early-growth stage company
Presence in Kenya
Core diverse skilled team
Refined working mobile-based product/service
Commercially viable business model
Active user base
Generating revenues
Partnership with Safaricom signed or being discussed
Raising equity or quasi-equity

Traction Required

Working product. Must align with Safaricom/M-Pesa ecosystem.

Team Requirements

Tech team with product capability

Selection Criteria

Strategic alignment with Safaricom’s purpose
Tech-enabled startup in Agriculture, Education or Healthcare
Other strategically important and complementary categories may also be considered
Required Kenyan presence
Core diverse skilled team
Refined working mobile-based product/service
Commercially viable business model
Active user base
Generating revenues
Partnership with Safaricom signed or being discussed
Raising equity or quasi-equity
Successful completion of due diligence
Approval by the Investment Committee and Board of Trustees

Focus Areas

Agriculture

Safaricom is keen to support tech companies that align with its long term corporate vision in Agriculture.

Education

Safaricom is keen to support tech companies that align with its long term corporate vision in Education.

Healthcare

Safaricom is keen to support tech companies that align with its long term corporate vision in Healthcare.

What They Look For

East Africa's first corporate venture fund. $1M initial fund invested in 6 startups (Sendy, Lynk, Ajua, Eneza, iProcure, FarmDrive). Expanded to $5M in 2020. Targets tech startups strategically aligned with Safaricom's platforms — especially M-Pesa. Spark Accelerator provides investment, business development, and technical assistance.

Post-Investment Support

M-Pesa API access, Safaricom distribution network, business development, customer base access

Red Flags to Watch

Strong strategic alignment required — Safaricom wants commercial synergy, not just financial returns. Kenya-only limits geographic scope.

Insider Tip

The strongest path in is through S&B Ventures at spark@africatechventures.co, since it manages sourcing and diligence. Applicants should clearly show Kenyan market presence, revenue traction, a refined mobile-based product, and concrete strategic alignment with Safaricom, including an existing or active partnership discussion.

2014

Active Since

Yes

Deploying

Notable Investments

Sendy, Lynk, Ajua, Eneza, iProcure, FarmDrive