Kua Ventures, a Kenyan-based faith-driven impact investment firm has invested over 1 million (approximately Ksh. 145 million) into 20 Small and Medium Enterprises (SMEs) in Kenya, three years after it launched in the country.
The milestone is after the firm’s four rounds of funding over the last three years that have seen 20 growing local SMEs added to the Kua Ventures portfolio.
According to Kua Ventures Operations Director, Madalena Santos, “Having invested over USD 1 million in 20 businesses in the last three years, we have seen the potential in the Kenyan entrepreneurial ecosystem and look forward to investing an additional USD 2 million by June 2024 so that entrepreneurs within our portfolio can continue making a positive impact in their communities and beyond.”
Kua Ventures launched in the country in 2020 at the onset of the COVID-19 pandemic and began providing the much needed capital in a season when many businesses, particularly SMEs, had been adversely affected by the economic effects of the pandemic. The countrywide dust-to-dawn curfews, reduced cash flows among Kenyan consumers, and disruption in supply chain set back many enterprises that were forced to reduce production, lay off employees or even shut down.
Apart from the much-needed capital, Kua Ventures also began offering coaching and community support for SMEs to survive the economic downturn. The landmark $USD 1 million cumulative investment is a testament of the firm’s commitment to supporting more Kenyan small businesses to realise their social impact in job creation and poverty reduction.
Modeled on its three pillars of Capital, Coaching and Community (3Cs), Kua Ventures gives growth capital of between USD 50,000 – 100,000 (approximately Ksh. 7 million – 14 million) mostly through straight debts, revenue shares and convertible notes.
Understanding that capital isn’t the silver bullet for the success of SMEs, Kua Ventures also provides Coaching in the form of one-on-one mentorships to help entrepreneurs navigate different phases of their businesses, as well as a Community of like-minded entrepreneurs where founders connect, fellowship, learn and share their entrepreneurial experiences.
The 3C model by Kua Ventures positively impacts the Entrepreneur, Enterprise and Employee (3Es) in terms of unlocking growth and efficiency of the business, helping founders achieve kingdom impact in their communities, creation of more stable jobs, among other positive outcomes.
![Kua Ventures Invests over USD 1 Million in Kenyan SMEs 2 Kua Ventures Family](https://kuaventures.org/wp-content/uploads/2023/09/Kua-Ventures-Family-1024x576.jpg)
“We have found that our 3C model clearly works in Kenya and that there are many growth-oriented businesses led by faith-driven entrepreneurs throughout the country,” said Peter. “As revenue grows, the businesses add hardworking employees to their workforce and sustain their own vision of local outreach. In turn, this gives us great optimism about helping more local entrepreneurs grow their businesses and support their communities,” said Kua Ventures Executive Director, Peter Fry adding that the three-year period was a testament to the success of the organization’s 3C model consisting of Capital, Coaching and Community.
Over the last three years, SMEs supported by Kua Ventures have contributed directly to creation of more than 200 jobs in Kenya, providing a safe nest for communities living in poverty to sustain their lives.
With more than USD 1 million investment already committed to supporting Kenyan SMEs, and an additional USD 2 million set aside to almost double the portfolio over the next 10 months, Kua Ventures is poised to positively impact the SME sector of the country while fostering socio-economic growth of individuals and communities.