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Alitheia Identity as a part of Capria Network

Interview with Tokunboh Ishmael, Tokunboh Ishmael, Managing partner, Alitheia IDF

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Tokunboh Ishmael

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Articles and Newsletters

Tokunboh Ishmael — OKAYAFRICA’s 100 WOMEN

Alitheia Capital’s Tokunboh Ishmael starts a fund for Africa’s women entrepreneurs – how it will reach the parts others don’t”

Alitheia Capital’s Tokunboh Ishmael Starts a Fund for Africa’s Women Entrepreneurs – How It Will Reach the Parts Others Don’t

A study by Boston Consulting Group found that startups founded by women receive less than 50% of the investment received by those founded by men, but achieve 10% higher profits. In Africa, women founders are still sufficiently small in number to be considered remarkable rather than an every day reality. Russell Southwood talked to Alitheia Capital’s Tokunboh Ishmael about a launching a Gender investment fund.

A Privcap Conversation With Tokunboh Ishmael of Alitheia Capital

Ishmael has over 20 years experience spanning investment banking, private equity investing, technology and new business development in the USA, Europe and Africa. She is a co-founder and managing director of Alitheia Capital. Her previous roles include Country Partner for Nigeria at Aureos Capital where she successfully raised capital to complete a $50m fundraising exercise for the Aureos West Africa Fund, and sourced private equity investments. In addition, ‘Tokunboh worked at Obongo, a successful e-wallet silicon valley start-up acquired by AOL Time Warner.

Guardian Woman – Tokunboh Ishmael

$72m raised to fund women-led businesses in Nigeria, four other countries

An Interview with Yale World Fellow, ‘Tokunboh Ishmael

Africa Investment Forum: Alitheia IDF closes $58 million

Tokunboh Ishmael: Doing good by doing well

Tokunboh Ishmael

Tokunboh Ishmael is an accomplished and experienced private equity investor with a proven track record. She is the Managing Director and co-founder of Alitheia Capital ( In 2015, she co-founded Alitheia Identity ( a fund manager that invests in high growth small and medium enterprises (SMEs) with significant potential to grow profitably and deliver above-market returns. They do this through a proactive approach by searching for, identifying and funding female led founder and co-founder businesses in order to ensure greater participation of women at all levels from boardroom to factory floor.

Africa Investment Forum 2019: Promises made, promises kept: Champions share why investments benefit women

  • 60% of Mara phones’ 400-450 employees are women: This is why our quality is better than anyone else’s – Ashish Thakkar
  • We are looking at the value chain of businesses and asking how do we support women across the value chain…from the factory floor all the way to the boardroom? – Tokunboh Ishmael

Challenged a few years ago at an investment forum about the number of women-owned businesses she invested in, Tokunboh Ishmael, co-founder of Aliethiea IDF, faced the realization that after 15 years of private equity investing in businesses in Europe, Asia and North America, the answer was: none.

It was a turning point for the former investment banker, although her partner and co-founder, South African Polo Leteka, had been doing exactly that for years.

“We realised  that we were meeting  many women entrepreneurs who were running formidable businesses…Africa is full of lots of female micro entrepreneurs, but they were not receiving any finance,” Ishmael told a packed plenary session at the Africa Investment forum which closed Wednesday 13 November, in the South African capital Johannesburg.

Ishmael was speaking as part of a panel session dubbed “Promises made, Promises kept,” which included Ashish Thakkar, CEO and founder of Mara phones, and Masai Ujiri, President of the Toronto Raptors. Ishmael and Thakkar were on stage to share their testimonies.

Alitheia IDF fund for women-led African enterprises reaches second close at $75 million

Jumia listing is ‘a big deal’ for Africa

Alitheia Capital on the future of Africa’s private equity & venture capital industry

Building Through Crises

Tokunboh Ishmael – Investing for profit and purpose

How Africa can unlock its economic potential through gender smart investment.

Impact investing and COVID-19: A moment for growth or a flight from risk?

Impact investing and COVID-19: A moment for growth or a flight from risk?

Our COVID-19 coverage is free. Please consider a Devex Pro subscription to support our journalism.
Experts say the COVID-19 pandemic could be a turning point for global financial systems. Photo by: Mackenzie Marco on Unsplash

WASHINGTON — The impact investing community is grappling with how the coronavirus crisis will affect growth and how entrepreneurs searching for capital in low-income countries will fare.

The past few weeks have seen the launch of a number of new coalitions and efforts to better collaborate. Some see an opportunity for financial industry transformation and impact mainstreaming, while others worry that money may flee for what some investors perceive as safer investments.

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