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Venture Capital
cre.vc

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Investments

44

Funds

1

About CRE Venture Capital

CRE Venture Capital, formerly Africa Angels Network, invests in and partners with visionary entrepreneurs in technology-enabled startup companies in Sub-Saharan Africa.

CRE Venture Capital Headquarter Location

Studio 307, 3rd Floor 38 Hout Street

Cape Town, 8001,

South Africa

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Latest CRE Venture Capital News

Costanoa Ventures and CRE Venture Capital lead $7m Series A funding in Smile Identity

Jul 8, 2021

Identity verification startup, Smile Identity has announced a $7 million Series A investment led by Costanoa Ventures and CRE Venture Capital. Other investors that joined in the round include LocalGlobe, Intercept Ventures, Future Africa, Khosla Impact, ValueStream Ventures, Beta. Following the raise, John Cowgill, a partner at Costanoa Ventures, will be joining the board of Smile Identity. In 2017, Mark Straub and William Bares founded Smile Identity after the former noticed how  IndiaStack changed identity verification for Indians. Partnering with other entrepreneurs in Nairobi, they came up with a solution that leveraged camera technology to verify faces. Per TechCrunch , the four-year-old startup has established a presence in six countries in Africa, including Nigeria, Kenya, South Africa, Ghana, Rwanda, and Uganda. It also covers verification for 15 different ID types and now performs over one million identity checks monthly. The startup’s software is used in banking, telecommunications, fintech, ride-sharing, worker verification, and public social welfare programs and has earned them the business of clients including Paystack, Kuda, Binance, Luno, and Twiga. This round of funding brings the startup’s total raise to $11 million, and the startup plans to use this to improve its services, expand across more markets, add support for more ID types, and hire more staff across Africa. According to a report by the World Bank, 1 billion people do not have official proof of identity. Before now, most face recognition systems had been built in the United States and Europe and were unable to verify darker skin tones. Smile Identity’s solution built with help from various experts, including Davy Uwizera, Machine Learning expert and Catalin Voss, computer vision specialist from Stanford University, has made it easier for Africans to get verified and gone a long way to eliminate the bias they face in verification exercises.

CRE Venture Capital Investments

44 Investments

CRE Venture Capital has made 44 investments. Their latest investment was in In Haircare as part of their Series A on March 3, 2022.

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CRE Venture Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/29/2022

Series A

In Haircare

Yes

1

3/26/2022

Seed VC - II

Ma Coiffeuse Afro

No

1

1/26/2022

Series A

Stitch

$21M

No

5

12/18/2021

Seed VC

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$99M

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10

12/7/2021

Seed VC

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$99M

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10

Date

3/29/2022

3/26/2022

1/26/2022

12/18/2021

12/7/2021

Round

Series A

Seed VC - II

Series A

Seed VC

Seed VC

Company

In Haircare

Ma Coiffeuse Afro

Stitch

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Amount

$21M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

1

1

5

10

10

CRE Venture Capital Fund History

1 Fund History

CRE Venture Capital has 1 fund, including CRE Seed Fund One LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

CRE Seed Fund One LP

Early-Stage Venture Capital

Open

1

Closing Date

Fund

CRE Seed Fund One LP

Fund Type

Early-Stage Venture Capital

Status

Open

Amount

Sources

1

CRE Venture Capital Team

2 Team Members

CRE Venture Capital has 2 team members, including current Founder, Managing Partner, Pardon Makumbe.

Name

Work History

Title

Status

Pardon Makumbe

EL Rothschild Ltd., Temasek, University of Pennsylvania, Bain & Company, and Emerging Capital Partners

Founder, Managing Partner

Current

Pule Taukobong

Founding Partner

Current

Name

Pardon Makumbe

Pule Taukobong

Work History

EL Rothschild Ltd., Temasek, University of Pennsylvania, Bain & Company, and Emerging Capital Partners

Title

Founder, Managing Partner

Founding Partner

Status

Current

Current

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