Key Takeaways
- • Aries Media Ventures, a US-based firm, has launched Aries Media Ventures Fund I, an early-stage venture fund investing in media-tech startups serving sub-Saharan Africa.
- • The fund invests at the angel, pre-seed and seed stages in tech-enabled businesses at the intersection of media, entertainment and commerce.
- • Fund I has begun deploying capital with initial investments in three companies: Aktivate (Nigeria), HustleSasa (Kenya) and Book Mahali (Kenya).
- • Aries evolved from Aries Media Project, a professional network launched in 2023 that connected emerging-market media startups with investors and industry experts.
- • Founding general partner Alykhan Kaba, who has more than a decade at Live Nation, Entertainment One, Activision Blizzard and NBCUniversal, frames the fund around closing a capital gap for global media entrepreneurs.
Summary
US-based Aries Media Ventures has launched Aries Media Ventures Fund I, an early-stage venture fund focused on media-tech startups serving sub-Saharan Africa, according to Africa Private Equity News. The fund invests at the angel, pre-seed and seed stages, targeting tech-enabled businesses at the intersection of media, entertainment and commerce. The article does not disclose the fund's target size or total commitments.
The fund has begun deploying capital and has made initial investments in three startups: Aktivate, a creator marketing platform operating in Nigeria; HustleSasa, an events commerce platform based in Nairobi, Kenya; and Book Mahali, a venue booking and hospitality platform operating in Kenya. Investment amounts for these deals were not reported.
Aries originated as Aries Media Project, a professional network launched in 2023 to connect media and entertainment startups in emerging markets with investors, operators and industry experts in hubs such as Los Angeles, New York and London. After three years of facilitating introductions, the firm shifted to investing directly in founders and businesses. Its sourcing runs along two tracks: identifying founders already building businesses against significant local opportunities, and partnering with established media companies to identify operational and commercial challenges they face when expanding internationally, then matching those problems with capable founders.
Founding general partner Alykhan Kaba has spent more than a decade across media, entertainment, technology and corporate development at Live Nation, Entertainment One, Activision Blizzard and NBCUniversal. Kaba said that large media companies have often sought global growth while overlooking innovation in emerging markets, and that Aries aims to back founders in underserved markets with capital, industry expertise and relationships. He added that media is becoming more global while capital and networks for media entrepreneurs remain concentrated, saying, "Capital bears the burden of going where the innovation is, not vice versa. Our goal is to close that gap."
The fund has begun deploying capital and has made initial investments in three startups: Aktivate, a creator marketing platform operating in Nigeria; HustleSasa, an events commerce platform based in Nairobi, Kenya; and Book Mahali, a venue booking and hospitality platform operating in Kenya. Investment amounts for these deals were not reported.
Aries originated as Aries Media Project, a professional network launched in 2023 to connect media and entertainment startups in emerging markets with investors, operators and industry experts in hubs such as Los Angeles, New York and London. After three years of facilitating introductions, the firm shifted to investing directly in founders and businesses. Its sourcing runs along two tracks: identifying founders already building businesses against significant local opportunities, and partnering with established media companies to identify operational and commercial challenges they face when expanding internationally, then matching those problems with capable founders.
Founding general partner Alykhan Kaba has spent more than a decade across media, entertainment, technology and corporate development at Live Nation, Entertainment One, Activision Blizzard and NBCUniversal. Kaba said that large media companies have often sought global growth while overlooking innovation in emerging markets, and that Aries aims to back founders in underserved markets with capital, industry expertise and relationships. He added that media is becoming more global while capital and networks for media entrepreneurs remain concentrated, saying, "Capital bears the burden of going where the innovation is, not vice versa. Our goal is to close that gap."
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.