Build a VC-backed African mobility portfolio. Deal-by-deal co-investment in Africa’s most promising e-mobility companies, structured via SPVs.
What the syndication is
MobilityX Ventures is an angel syndication vehicle investing in early-stage African e-mobility companies through deal-by-deal SPVs. Each deal is structured as a Special Purpose Vehicle.
Investors commit to a specific company, at a specific ticket size, on their own timeline. No blind pool. No ongoing management commitment. No obligation to participate in deals outside your thesis.
We bring together a curated network of LPs — executives, strategics, and family offices — to co-invest alongside our lead in each deal.
Structure - One SPV per deal via Roundtable.eu
Economics - 5% management fee, 20% carry
Check size - $150K–$250K per deal (avg. $250K)
Hold period - 36+ months (equity-only
De-risked portfolio creation
MobilityX Ventures sits within the broader MobilityX Africa ecosystem, which also operates an infrastructure financing division providing SPV-based financing for e-mobility assets (batteries, swap station and charging infrastructure)
The two vehicles are designed to de-risk each other: assets are financed first to prove unit economics, equity follows into the scaled operator.
Investment thesis
Portfolio mandate: 60% software-first / 40% scalable operators
Software-first (60%)
- Sub-verticals: fleet management platforms, battery analytics, rider fintech, charging and swap orchestration software, energy demand forecasting
- Investment criteria: validated product-market fit, minimum 3 reference customers, clear path to $1M ARR, defensible IP or data moat, scalable architecture
Scalable operators (40%)
- Proven BaaS models with 500+ active riders, demonstrated unit economics, and geographic expansion readiness
- Investment criteria: revenue per rider above $50/month, battery utilisation above 60%, swap station ROI under 18 months, management team proven at scale
What we screen against
- Hardware-only plays with no software or recurring revenue
- Single-country businesses in high-risk markets with no expansion plan
- Financing vehicles
- Deals above $12m in valuation
Why African e-mobility, why now?
Africa’s two- and three-wheeler market is the fastest-growing EV segment globally. Fuel costs, grid instability, and last-mile delivery demand create structural tailwinds that are not present in other markets at the same scale.
Battery swap and fleet-as-a-service models are proving unit economics faster here than in any other CAPEX-heavy vertical. The operators building this market are doing it with lean structures and direct customer relationships.
MobilityX Ventures targets the pre-seed and seed stage, where the opportunity is largest and the information advantage from MobilityX Africa’s research base is most valuable.
How we source deals
- MobilityX Africa database: 220+ tracked companies across 15 markets. Every company in the pipeline has been assessed against MobilityX’s research framework before reaching the syndication stage.
- Top 50 African Mobility Companies: The annual ranking surfaces the highest-performing operators and software companies across the continent. Syndication candidates frequently emerge from this process.
- AMIN network: The African Mobility Investment Network generates inbound from founders seeking capital and from AMIN members flagging opportunities in their markets.
How deals are structured
LP profile
MobilityX Ventures LPs are non-institutional investors comfortable with early-stage risk and illiquid capital. Current LP base includes:
- Executives and directors from energy, logistics, and automotive OEMs
- Oil and gas professionals with emerging market exposure
- Impact-aligned family offices
- African infrastructure specialists
- Corporate executives from mobility-adjacent sectors
LPs participate on a deal-by-deal basis. There is no commitment to participate in every deal.
About Stuart Minnaar
Stuart Minnaar is the founder of MobilityX Africa and managing partner of MobilityX Ventures. He leads all deal sourcing, due diligence, and syndication structuring.
He has conducted primary research across 15 African countries, completed 150+ founder conversations, and maintains direct relationships with 50+ capital allocators. He drives the 2 main annual reports for capital allocators: Top 50 African Mobility Companies ranking and the State of the African Mobility Ecosystem Report
Register your interest
Register Syndication Interest
Angel investing is high-risk and illiquid. MobilityX Ventures makes no guarantees of returns. LPs should only participate with capital they can afford to lose. All investments are subject to full due diligence and IC approval before LP outreach begins.