Predict your next investment

Venture Capital
FINANCIAL | Investment Firms & Funds
hofvc.com

See what CB Insights has to offer

Investments

40

Portfolio Exits

1

Funds

13

About HOF Capital

HOF Capital is a global venture capital firm headquartered in NYC. The Firm's seed and growth funds focus on tech-based startups; with a special focus on businesses that have an international expansion potential. HOF Capital assists entrepreneurs in increasing their global footprint by exposing them to their diverse network of partners across the industry. Guided by this philosophy, HOF provides innovators with both the funding and access to markets necessary for exponential growth.

HOF Capital Headquarter Location

100 11th Ave Suite 20A

New York, New York, 10011,

United States

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

HOF Capital Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

HOF Capital Rank

Latest HOF Capital News

Ugandan fintech Asaak raises $30million to support acquisition of motorbikes, smartphones by taxi operators – TechCrunch

Jan 18, 2022

Asaak , a Ugandan asset financing startup, has secured $30 million in pre-Series A equity and debt funding. The round saw the participation of new and existing investors including Resolute Ventures, Social Capital, HOF Capital, Founders Factory Africa, End Poverty Make Trillions, Decentralized VC and a number of angel investors. Asaak offers motorbike financing to operators, who are often locked out by formal banking institutions due to stringent security requirements comprising income history and regular account activity. The startup works with a number of partners including mobility and e-commerce platforms to make motorcycle ownership easier for the riders– who earn a living by operating motorcycle taxis (bodaboda), a popular mode of transport across Africa, and especially in major cities like Kampala . Through Asaak, bodaboda operators are now able to own the motorcycles they ride, compared to previously when most of them were either employed by bike owners, or were renting or leasing the motorcycles. “Asaak is unlocking mobility-based work, which literally moves the economy forward and creates upward mobility for these individuals. Bodaboda riders are the lifeblood of Africa, moving people and cargo from home to school to work. They just need access to motorcycles which leads them to better income opportunities and makes them able to provide for their families,” Asaak co-founder and chief business officer Dylan Terrill told TechCrunch. Asaak approves riders for motorcycle financing using behavioral and financial data like their earnings, trips made and their ratings from platforms like Bolt, Jumia, Safeboda and Uber. Using rider data from these platforms, Asaak creates a credit score of the borrowers. Borrowers can also use the Asaak app or physically visit their branches to know if they qualify for the financing. Drivers usually receive motorcycle financing (about $1,500 worth of credit) within three days of signing up, and pay an interest of between 1 to 4% depending on their credit score. “The more confident that we are with the data that we have to make a lending decision, the less the other requirements they would need to have. We’re trying to make it as easy as possible for people to get loans. But in some cases, yes, it’s necessary (to have a guarantor) and it makes sense from a lending perspective,” said Terrill. Asaak, which started operations in Soroti Uganda in 2016, pivoted to motorcycle financing in 2019 after a period of lending to farmers then SMEs. The startup has so far financed the purchase of 5,000 motorcycles, and has also started providing smartphones and fuel financing to the operators. “By financing these types of assets, we’re not just creating a pathway to vehicle ownership, which is good in itself, but we’re creating a stable source of income because of the reliance of drivers throughout the countries that we are in.” They are also working with Samsung to drive smartphone ownership among motorcycle taxi operators. Last month, the company announced another partnership with Untapped Global, an investment company focussing on emerging markets to provide financing for more than 2,000 motorcycles over the next one year. Today, the startup has also partnered with Standard Bank, headquartered in Johannesburg, South Africa and with a presence in 20 countries across the continent, to offer financial services to millions of workers (like motorcycle taxi operators) in the informal sector through the startup’s proprietary digital loan origination system. Through this partnership Asaak customers will also have access to tailored services encompassing both finance and insurance. “While we often underestimate the power of the boda-boda (motorcycle transport) in Africa, in many circumstances, it is an ambulance, a pharmacist, and a chef – it brings you everything you need. It takes children to school, it brings people to job interviews, it provides livelihoods for hundreds of millions of Africans,” said Stanbic Bank, Standard Bank’s operation in Uganda, head of direct digital and e-commerce Aaron Akampa. “Ultimately, this is new ground for Standard Bank – we haven’t partnered with any other players in this space on the continent yet – it’s the first time we are creating a partnership like this and we can’t wait to see what is ahead,” said Akampa. The partnership with the bank comes as Asaak plans to enter six new markets in Africa in the near future.

HOF Capital Investments

40 Investments

HOF Capital has made 40 investments. Their latest investment was in Asaak as part of their Seed VC - II on January 1, 2022.

CBI Logo

HOF Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/18/2022

Seed VC - II

Asaak

No

5

1/11/2022

Series A

PostEra

$24M

Yes

5

12/22/2021

Seed VC

SPACE

$7M

Yes

3

12/10/2021

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

10/21/2021

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

Date

1/18/2022

1/11/2022

12/22/2021

12/10/2021

10/21/2021

Round

Seed VC - II

Series A

Seed VC

Seed VC

Seed VC

Company

Asaak

PostEra

SPACE

Subscribe to see more

Subscribe to see more

Amount

$24M

$7M

$99M

$99M

New?

No

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

5

5

3

10

10

HOF Capital Portfolio Exits

1 Portfolio Exit

HOF Capital has 1 portfolio exit. Their latest portfolio exit was Optii Solutions on December 06, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/6/2021

Acquired

4

Date

12/6/2021

Exit

Acquired

Companies

Valuation

Acquirer

Sources

4

HOF Capital Fund History

13 Fund Histories

HOF Capital has 13 funds, including HOF Capital Growth Opportunity XIII.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/27/2020

HOF Capital Growth Opportunity XIII

$8.29M

1

11/17/2020

HOF Capital Growth Opportunity

$16.01M

1

11/2/2020

HOF Capital Growth Opportunity XIV

$9.55M

1

9/23/2020

HOF Capital Growth Opportunity VIII

$99M

10

8/4/2020

HOF Capital Growth Opportunity X

$99M

10

Closing Date

11/27/2020

11/17/2020

11/2/2020

9/23/2020

8/4/2020

Fund

HOF Capital Growth Opportunity XIII

HOF Capital Growth Opportunity

HOF Capital Growth Opportunity XIV

HOF Capital Growth Opportunity VIII

HOF Capital Growth Opportunity X

Fund Type

Status

Amount

$8.29M

$16.01M

$9.55M

$99M

$99M

Sources

1

1

1

10

10

HOF Capital Team

3 Team Members

HOF Capital has 3 team members, including current Founder, Managing Partner, Hisham Elhaddad.

Name

Work History

Title

Status

Hisham Elhaddad

Entrepreneurs Roundtable Accelerator

Founder, Managing Partner

Current

Onsi Sawiris

Founder, Managing Partner

Current

Fady Yacoub

Founder, Managing Partner

Current

Name

Hisham Elhaddad

Onsi Sawiris

Fady Yacoub

Work History

Entrepreneurs Roundtable Accelerator

Title

Founder, Managing Partner

Founder, Managing Partner

Founder, Managing Partner

Status

Current

Current

Current

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.