Are you an angel investor seeking to invest in innovation in East Africa?

learn more

Are you an innovative start-up seeking angel investment?

learn more

Who are we?

Our team acts as a catalyst toward creating successful and lasting connections between startups and angel investors.

Since 2011, the ViKtoria team has been actively supporting the growth of entrepreneurial ecosystems in various sectors in East Africa. Our engagements include:

  • • Advising investors and providing portfolio management support
  • • Developing linkages to successful start-up ecosystems in other countries
  • • Undertaking research and facilitating strategic planning for development organisations seeking to catalyse growth in entrepreneurship.
  • • Developing, resourcing and management of incubation and acceleration programs

We coach many innovative startups as well as support their strategic planning and capital raising activities. The team has helped start-ups raise both grant funding from donors and convertible debt finance from angel investors.

Viktoria also works with leading local and international clients in an advisory capacity, with a focus on entrepreneurial finance in East Africa. We've garnered key insights and substantial experience from engagements and research conducted in East Africa, as well as reviewing the global body of knowledge on startup ecosystem development.

Our research has led us to conclude that the key factor to the growth of entrepreneurial activity in any one sector is the number of success stories that sector generates; it only takes a small number of big successes to drive growth. To effect this, ViKtoria Solutions launched ViKtoria Ventures in 2015 – a start-up ecosystem development venture focused on attracting local and international angel investors to the best start-ups emerging in East Africa’s innovation space.


Consultancy and Fund Management

ViKtoria Ventures offers the following services


Business valuation, the process and set of procedures used when estimating the economic value of a business, is paramount for several reasons including fundraising, establishing a fair market value for equity transactions, periodic reporting to investors, among others. Here at Viktoria we have over 28 years of team work experience in company valuation with specific experience in valuation in the early stages of companies. Our most recent assignment was valuing a software company that was looking to expand to new markets. The objectives were: to determine whether the current business had created shareholder wealth and, the value shareholders are likely to derive from the expansion. The model used for fundraising purposes was business-to-business.

Negotiation and Structuring Transaction Agreements

Negotiation and structuring transaction agreements is a critical step in any transaction as it seeks to align the founders’ needs and concerns with those of the investor. At ViKtoria, we have the pertinent negotiation skills and experience necessary in arriving at satisfactory terms for both the entrepreneur and the investor while keeping our eyes on the long term objectives of the entrepreneur. Most recently we participated in the negotiations of an early stage business in the digital advertising space that was in the process of being acquired.

Deal Structuring

Once a non-binding offer letter is signed between the entrepreneur and the interested investor, the next step is to identify the goals of the two parties, which tend to be strategic and/or financial. Both parties then establish steps to help them achieve these goals as well as how to share risks. Our team has experience in deal structuring in areas of reviewing term sheets, recommending acquisition vehicles or, entity types, resolving accounting issues, and advising on capital structuring. We appreciate that tax is a key consideration in investments and we seek to address these with the help of outsourced consultants. We have helped several early stage ventures review their term sheets and shareholder agreements to arrive at optimal structures that favor both them and the investors.

Fund Management

We work with several funds in helping them source for deals, carry out due diligence, close the investments, monitor their portfolios once invested in and manage the exit process. We are currently providing fund management services to HEVA Fund, a fund for Creatives in Kenya, and InReturn East Africa fund where we help manage their portfolio while searching for an exit. We are also in the process of raising a fund focused on scalable early stage business in Kenya.



We connect angel investors with innovative companies that are charting new paths and tapping into large market opportunities to meet basic needs such as entertainment, transport and infrastructure. Angel investors not only inject capital needed to test business models and early stage growth, but they also provide mentorship, sector knowledge and experience, business acumen and access to networks.

Start-ups who qualify to pitch should:

  • • Be post-prototype and post-first revenue.
  • • Have a founding team with sector expertise as well as technical and business know how.

If you are the founder of a start-up seeking an opportunity to acquire capital please contact us.

Are you a post-prototype stage startup? Do you have sales traction? Do you have at least one of your founders working on the startup fulltime? Do you have a pitch document and 12-month budget prepared?
Fill in the following questions to help us understand your startup.






For Angels

Viktoria has brought together a network of local angel investors with a broad range of experience and expertise. The angel investors on board are either seeking to take their first steps in investing in innovation, or have already invested in start-ups within the region. We also have a network of successful international angel investors and venture capitalists that have seen start-ups transition through the various stages of the business cycle, that is, from ideation to exit. Our inaugural event was held in December 2014 and it saw four tech start-ups pitching.

If you are looking to start investing in start-ups and would like to learn more about joining us please


Our events are tailored toward providing value addition to both start-ups and angel investors.

We also partner with like minded organizations to provide you with the latest news, information and research on the ecosystem.


Our Team

Our team is dedicated to creating success stories that propel the Kenyan startups ecosystem forward, by connecting leading tech-entrepreneurs to angel investors with relevant expertise and networks.

Stephen had over 6 years of experience in the financial services sector before jumping into entrepreneurship in 2011. He has tertiary education qualifications in Law, Accounting and Finance and completed an International MBA with an emphasis on Entrepreneurship at Vlerick Management School in Belgium in 2011. As a part-time Lecturer at Strathmore University, he gives courses in Entrepreneurial finance and as a training partner of the East Africa Venture Capital Association on matters relating to finance and investment.

KEZIAH NJERI,  Angels Interactions

Keziah has over 4 years’ experience in the financial services industry obtained while working with an investment group helping to analyze and manage their investment portfolio. She also has vast knowledge in appraisal of deals and financial analysis and has been involved in the preparation of several research and appraisal reports that guide investment decisions. Keziah has an MBA in Finance and Banking from Limkokwing University, Malaysia and a Bachelor’s degree in Actuarial Science from JKUAT.

NYAMBURA NGUMBA,  Startups Interactions

Nyambura has a background in Marketing and Communications having graduated from Daystar University and having over 10 years working experience. She carried out public relations campaigns for various multinationals such as Coca-Cola, VISA and Nokia. She also handled the expansion of a Kenyan business into Uganda and ran the operations over 4 years before starting an entrepreneurial passion project. Her experience gives her the relevant skills in her role pertaining to startup engagement.

ROBERT YAWE,  Strategic Advisor

Robert Yawe is the Managing Director of KAY System Technologies Ltd, an ICT company involved in the design and implementation of LAN and WAN systems. He is also the Corporate Mentor to Synergy Systems Ltd, a software development house with a niche on financial applications. Robert is passionate about early-stage companies for many years in their development, participating actively either as an angel investor or coach and mentor. In addition to this, he is a panel member and mentor at @iBiz Africa, a business incubator based at Strathmore University, Nairobi.

YARON COHEN,  Co-Founder

Yaron’s interest in the Nairobi tech ecosystem dates back to soon after his arrival in Kenya in early 2009. Following several advisory engagements with startups in subsequent years, Yaron formalised this interest in 2012 by co-founding Viktoria to play a catalytic role in generating entrepreneurial success stories that will transform the Nairobi tech ecosystem from nascent to booming. Yaron focuses on connecting international investors with opportunities to co-invest alongside locally based funds and angels in ICT and clean-tech startups' early stage funding rounds. He holds an MBA from IE Business School in Madrid

JASON MUSYOKA,  Angel Network Manager

Jason Musyoka runs the Viktoria Business Angel Network. He interacts with the local business angel investors who are members in the network as well as those who are looking to sign up. Prior to joining Viktoria Ventures, he was working at Farm Capital Africa as the Head of Finance and Administration operations. He has also worked as the Project Manager for Arriscar Ventures responsible for client engagements and company projects, and at Apex Communications as the Finance and Administration Associate charged with streamlining their financing operations. In the past, Jason was part of the capital campaign team for Strathmore University, he participated at different negotiations stages to establish partnerships between Strathmore University and corporate enterprises. He holds a Bachelor of Arts degree from University of Nairobi.


Our Partners