What’s on Goodwell’s radar? - September 2025

2X Global Summit  

Gender lens investing has been top of mind for our team lately. Always an important part of our work, it’s garnered some extra attention thanks to the 2X Global Summit in Manila this month. This year’s theme was “Women Driving Resilience”. Goodwell Partner Nico Blaauw participated in the event, and shared some valuable insights upon his return. From collaborative capital to climate integration, this event provided plenty of inspiring evidence that a gender-lens approach is a future mainstay of investing.  

The future of gender-lens investing 

The Criterion Institute recently published a deep-dive report on the current and future state of gender lens investing. Their analysis reflects on the future of the field, challenges which drive the approach forwards, and the need for an intentional shift in power towards those most impacted by such work. A substantial and thought-provoking read, the report was presented at the previously mentioned 2X Global Summit and has been heavily circulated on our team channels.  

Japan increasingly invests in Africa 

After a recent trip to TICAD 9 in Japan (the ninth Tokyo International Conference on African Development), our team members Lilian Oyando and Nico Blaauw reflected on how Japanese financial institutions and corporations are investing in Africa through patient capital and strategic partnerships. It was timely, therefore, to read news of a USD20 million commitment to African start ups by the Japanese VC Uncovered Fund. Japanese investors recognise the potential for innovation, impact, and returns represented by the continent. New bridges are being built, and impact fund managers like Goodwell will be watching closely for enabling opportunities.  

Learning from those who have gone before 

Also shared internally was this interesting website: https://startupgraveyard.africa/. Exploring stories from African unsuccessful startups, this platform shares valuable insights to help and inspire other entrepreneurs. From informative blogs to company-specific case studies, the Startup Graveyard is a great learning resource for anyone participating or interested in African entrepreneurship. 

Building a more inclusive economy in Nigeria 

From a tomato seller at a market to a CEO in a boardroom, responsible, inclusive fintech has the potential to benefit everyone. In Nigeria’s Independent online, Ikechukwu James Madubuike examines the country’s booming fintech sector from his perspective as a software engineer. He discusses how fintech businesses, like our portfolio company, Paga, already represent an “economic lifeline” for many; Nigeria fintech firms are reaching entirely new people with their mobile, data-driven approach, challenging what it even means to be “unbanked”. The sector is primed to provide scalable solutions en masse, representing a valuable opportunity for millions of Nigerians to participate in a fairer, more inclusive economy.  

Growing ambitions for Africa’s EV sector 

Africa’s electric vehicle (EV) market is expected to grow rapidly in the coming years, and electrifying public transport would be hugely impactful for the entire continent. Goodwell is invested in West African mobility company, MAX, to help spur on the electric transition.  We were excited, therefore, to see news from East Africa that Kenyan start-up BasiGo plans to put 1,000 electric buses on the country’s roads by 2027. Kenya is well placed to benefit from such a transition, with most of its energy generated by renewable sources, and a strong culture of “matatus” (informal — and often colourful – public buses). All aboard for clean energy!