At the Africa Tech Summit, we had the opportunity to have a rapid fire q & a with Lexi Novitske, a General Partner at Norrsken22, a leading venture capital firm investing in high-growth African startups. With a diverse investment focus spanning fintech, commerce models, medtech, edtech, and cross-border transactions, Lexi is at the forefront of shaping Africa’s startup ecosystem.
Africa’s tech landscape is evolving rapidly, with second-generation founders, embedded finance solutions, and female-led investments playing an increasingly prominent role. Lexi shared key insights on how investors are adapting to these trends and why founder-to-founder networks are becoming one of the most effective ways to source quality deals.
Africa Tech Summit: A Prime Networking Hub for Investors
“Africa Tech Summit is shaping up to be one of the largest tech events on the continent. There’s an incredible turnout from across the region, with a strong presence of investors as well. It’s been a really great event,” says Lexi.
With a team based in Nairobi, the summit provided an opportunity for Norrsken22 to strengthen cross-border networks and engage with both new and established founders.
“One of our main goals was to connect some of the Nigerian companies we’ve been engaging with to our Nairobi team, and vice versa. It was also a great opportunity to meet new founders we hadn’t interacted with before. Overall, it’s been a successful and productive experience.”
The Rise of Female Founders and Investors
Lexi has seen a significant shift in the number of female founders and venture capitalists in Africa over the last decade.
“It has changed dramatically—especially over the last five to ten years. There has been a wave of women stepping up and highlighting the gaps in the investment landscape. Historically, female founders have had limited networks to access funding, but that is shifting,” she explains.
She believes that within the next year or so, the industry will see near-equal gender representation in venture capital and startup leadership, a shift that is both necessary and exciting.
Key Investment Areas: Fintech, Edtech, Medtech, and Market-Enabling Solutions
Norrsken22 has a broad investment thesis, focusing on entrepreneurs developing fintech, edtech, medtech, and market-enabling solutions that deliver strong returns while making a positive impact.
“At this event, we announced our latest investment in Raenest, one of the headline sponsors,” Lexi shares.
Beyond that, her team is actively looking at how to integrate Africa’s fragmented markets into one ecosystem, enabling seamless banking and financial services across multiple countries.
“Whether you’re an SME or a large enterprise, having an invisible finance layer is key to growth. That’s where embedded finance plays a huge role.”
At its inception, Norrsken22 was backed by over 30 unicorn founders, highlighting the fund’s strong network and deep commitment to Africa’s tech scene.
Founder-Led Deal Flow: The Power of Startup Networks
A growing trend in venture funding is the rise of founder-to-founder introductions, which Lexi considers one of the most valuable deal sources.
“The best deal flow often comes from referrals by other founders. We’ve run two early-stage funds and have worked with many founders over the years. Now, we’re seeing the second generation of founders—people who previously worked at startups like Paystack—launch their own ventures. That’s incredibly exciting.”
This cycle of experienced founders building and backing new startups is helping drive Africa’s next wave of innovation.
How Founders Can Engage with Norrsken22
Norrsken22 primarily invests at the growth stage, backing companies that have already demonstrated strong traction. However, they actively engage with early-stage founders to build relationships that may lead to future investment.
“We’re easy to find—visit our website at www.norrsken22.com or connect with us on LinkedIn. Please reach out!” Lexi encourages.
Final Thoughts: The Future of Africa’s Venture Ecosystem
Looking ahead, Lexi sees Africa’s venture space growing in three key areas:
- More female investors and founders stepping into leadership roles
- Scaling cross-border fintech solutions
- A maturing ecosystem where experienced founders reinvest their capital and expertise
Her message to founders?
“Engage early, build relationships, and leverage your networks. Africa’s tech ecosystem is only just getting started.”
Stay tuned for more interviews from Africa Tech Summit.
