Investing in the future
of digital commerce
in Africa

Join our angel investing network AND access to our deal flow 

We are specialists
in commerce
on the continent

We focus on Africa’s largest economic engines and invest in founders who are creating opportunities for everyone.

Our expertise extends from years researching and investing in commerce ecosystems around the continent which have helped us form deep insights and convictions around the approaches we believe will thrive.

For our founders and co-investors, we bring an unparalleled mix of startup-building experience and sector-specific knowledge.


We invest guided by a digital commerce thesis informed by years of data-driven research. Our hands-on partnerships with our portfolio companies then enables even deeper, more ground-tested intelligence.


We're trusted by the world's leading research organizations, investors, and impact donors to help provide insights on the latest developments in digital commerce in Africa and its impacts.


We're a remote team that hails from the USA, France, Nigeria, Kenya, and South Africa, but our community - Sufficient Capital - spans the globe and includes the most active digital commerce investors and founders.

What our founders say

"DFS Lab is one of the best early stage investors in Africa. In the very early days, they provided hands-on support in product management and storytelling for Suplias. Even now, Stephen and Joey are quick to jump on a call to brainstorm and most importantly, make intros to experts that help us to overcome barriers."
Sefa Ikyaator
Founder of Suplias
"The DFS Lab experience is one I believe every founder should enjoy; the close guide and at the same time allowing you the freedom to learn and grow. The focus on powering commerce of the future has also been a guide as we build for businesses that use us."
Goodness Kayode
Founder of Sendchamp

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