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Aruwa Capital Management · Founder & Managing Partner
2
Active Funds
Fund I deployed
$59.7M
Fund II AUM
Final Close Pending
31
Total Documents
↑ 4 new this month
3
Active Investors
Across both funds
My Funds
2 active funds
Aruwa Fund I
Growth Equity · Gender-Lens · Nigeria
Fund Size
$20,079,905
Vintage
2019
Close
Final Close
Docs
15
Fully Deployed
Aruwa Fund II
Growth Equity · Gender-Lens · Nigeria & Ghana
Fund Size
$59,743,500
Vintage
2024
Close
2026
Docs
16
Third Close
Recent Activity
Q4 2025 Capital Account Statement uploaded for Fund II
2d ago
Side Letter — Rally Assets distributed to LPs
3w ago
FY2024 Audited Financial Statements published
Apr 2025
Q3 2025 Portfolio MD&A available for download
Oct 2025
Recent Documents
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Document Stats
FULLY DEPLOYED
Aruwa Fund I
Growth Equity · Gender-Lens · Nigeria
$20,079,905
Fund Size
Fully Deployed
2019
Vintage Year
10-year fund
36+
Limited Partners
Nigeria focus
15
Documents
5 categories
Fund Overview
STRATEGY
Growth Equity
LENS
Gender-Lens
GEOGRAPHY
Nigeria
STATUS
Fully Deployed
FIRST CLOSE
April 2021
FINAL CLOSE
November 2022
TARGET RETURN
3.0x MOIC
FUND LIFE
10 + 2 ext.
Limited Partners
Fund I investors
VF
Visa Foundation
Fund I
MC
Mastercard Foundation Africa Growth Fund
Fund I
FA
FSD Africa (Nyala Facility)
Fund I
SC
Sonen Capital
Fund I
OJ
Omobola Johnson
Fund I
WI
Women Impacting Nigeria Foundation
Fund I
TI
Tokunboh Ishmael
Fund I
BA
Bola Adesola
Fund I
Fund I Documents
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NameCategorySizeDate
THIRD CLOSE
Aruwa Fund II
Growth Equity · Gender-Lens · Nigeria & Ghana
$59,743,500
AUM Raised
$65M target
91.9%
To Hard Cap
2026 final close
35+
Limited Partners
NG & Ghana
16
Documents
4 new
Fundraising Progress
$59,743,500 of $65,000,000
First Close: Jul 202491.9% · $5.26M remaining
Fund Overview
STRATEGY
Growth Equity
LENS
Gender-Lens
GEOGRAPHY
Nigeria & Ghana
STATUS
Third Close
FIRST CLOSE
July 2024
HARD CAP
$65,000,000
TARGET RETURN
3.0x MOIC
FUND LIFE
10 + 2 ext.
Limited Partners
Fund II · Key Investors
BI
British International Investment
Fund II
FF
Ford Foundation
Fund II
BO
Bank of Industry
Fund II
TE
Total Energies Closed PFA
Fund II
RA
Rally Assets
Fund II
EL
EDFI ElectriFi
Fund II
IA
Impact Assets
Fund II
KI
Kara Impact
Fund II
EG
Empowering Economic Growth Foundation
Fund II
IM
Impact Foundation
Fund II
Fund II Documents
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AO
Adesuwa Rhodes
aor@aruwacapital.com
ADMINISTRATOR
FUND ACCESS
Aruwa Fund I
Aruwa Fund II
LAST LOGIN
April 20, 2026
Security
Password
Last changed 3 months ago
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Document
Aruwa Capital Management
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