Private investment firm Silverbacks Holdings and non-profit ImpactHER have invested in two African fashion startups, Vanhu Vamwe and The Rad Black Kids, signaling a growing investor focus on creative businesses built for global export.

Why it matters: The deal highlights a strategic shift in African venture investing, targeting companies that earn in foreign currency from day one. By backing profitable, export-oriented brands already stocked by major global retailers, investors are tapping into the continent’s creative economy while mitigating local currency risks. The move also underscores the role of platforms like Afreximbank’s Creative Africa Nexus (CANEX) in curating and de-risking investment opportunities in a sector often overlooked by traditional venture capital.

The Deal Details: The investment was made after the two brands stood out at the 2024 CANEX WKND pitch sessions, where luxury brand Vanhu Vamwe won first place and streetwear label The Rad Black Kids secured third.

The deal is part of a wider $450,000 commitment made by a group of angel investors at the event, aimed at channelling early-stage capital into Africa’s creative and cultural industries. The specific amount invested in the two fashion companies was not disclosed.

The Brands: African Roots, Global Shelves Both companies operate their businesses in US dollars and euros and leverage their African heritage for an international audience.

• Vanhu Vamwe: A sustainable luxury brand co-founded by Dr. Pam Samasuwo-Nyawiri and Simba Nyawiri. It combines traditional Zimbabwean craftsmanship with contemporary design, working with over 150 artisans. The brand is already sold by 48 stockists, including Selfridges, Neiman Marcus, and Net-A-Porter. “Our vision has always been to honor African heritage through sustainable, luxury craftsmanship that resonates globally,” said Dr. Pam Samasuwo-Nyawiri.
• The Rad Black Kids: A lifestyle and streetwear brand founded by Thulani Ngazimbi that draws on Zimbabwean street culture. It has secured distribution partnerships with retailers including Nordstrom, Macy’s, PACSUN, and Amazon subsidiary BOP LLC. “This investment enables us to amplify our voice on the world stage,” Ngazimbi stated.

The Investors: Profit Meets Impact The investment brings together a return-focused firm and an impact-driven non-profit.

• Silverbacks Holdings: The Mauritius-based firm focuses on tech-enabled, export-oriented African companies and has a portfolio that includes fintechs Moove, Wave, and Flutterwave. The firm has a track record of profitable exits in Africa, reporting a $10.7x$ MOIC (Multiple on Invested Capital) from a Nigerian deal and a $9.7x$ MOIC from an Egyptian exit. “The brands we are supporting are scaling fast because they are ingeniously leveraging tech and capitalizing on phenomenal distribution channels,” said Ibrahim Sagna, Executive Chairman of Silverbacks.
• ImpactHER: A non-profit founded by Efe Ukala, which aims to bridge the $42 billion financing gap for women-owned SMEs in Africa. It has provided pro-bono support and training to over 210,000 female entrepreneurs across 54 African countries since 2017. “We are committed to turning Africa’s creative brilliance into global business power,” Ukala said.

The investment is a clear indicator that private capital is beginning to see scalable, profitable opportunities within Africa’s creative sectors. By focusing on brands with established international traction and hard-currency revenues, investors like Silverbacks are creating a new template for backing non-tech ventures on the continent. Platforms like CANEX are proving critical in making these connections, bridging the gap between creative entrepreneurs and the financing needed to compete on a global stage.