How many investments has First Circle made?

First Circle has 35 tracked investments, 1 of which have exited via acquisition or IPO.

What stage does First Circle invest at?

First Circle invests at the Pre-Seed, Seed stages.

What is First Circle's typical check size?

First Circle typically writes checks of $100K – $250K.

What sectors does First Circle focus on?

First Circle focuses on Fintech, Healthtech, InsurTech, Logistics & Supply Chain, SaaS.

Where is First Circle located?

First Circle is headquartered in Casablanca, MA.

Does First Circle lead rounds?

First Circle typically participates in rounds rather than leading them.

Who does First Circle co-invest with?

First Circle most often shares deals with Acasia Ventures, Y Combinator, Digital Currency Group, among 44 tracked co-investors.

First Circle

Venture capitalActively deploying

Casablanca · Pre-Seed–Seed · 22 people tracked

Also known as First Circle Africa

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Find your way into First Circle

21,734 people in our graph share verified history with the First Circle team — schools, employers, funds. One of them is your warm intro.

Dave Blivinunlockedknows Mejero Kunu · together at Techstars (overlapped)

×2knows the team · via INSEAD

knows the team · via University of Michigan Law School

×3knows the team · via PwC

knows the team · via HEC Paris

×2knows the team · via Massachusetts Institute of Technology

✨ Fox Verdict

Investment thesis

First Circle backs fintech founders working to shape the financial future of Africa. Positioning itself as a fund built by founders for founders, its team is composed of seasoned operators, investors and advisors. The firm concentrates on supporting Africa's next generation of fintech companies, providing capital and guidance to entrepreneurs pursuing financial innovation across the continent.

Invests inFintech Healthtech InsurTech Logistics & Supply Chain SaaS Africa Casablanca

Source: firm website, verified Aug 7, 2026.

Stage

Pre-Seed–Seed

Check

$100K – $250K

Casablanca, MA

Leads rounds

Follows

Instruments

Equity

Founded

2022

Tracked investments

Team · 22 people

from the firm's website & curated & public directories

Agnes Aistleitner Kisuule· Co-Founder & Managing Partner· Ugandain

Co-founder and Managing Partner of First Circle Capital with legal training, a serial entrepreneur in emerging markets and seed investor who has built businesses in Jordan and Ukraine focused on employing local women. A WEF Global Shaper, she was named to Forbes 30 under 30 in 2022.

Selma Ribica· Co-Founder & Managing Partner· Casablanca, Moroccoin

Co-founder and Managing Partner of First Circle Capital and a veteran of African fintech since 2012, having worked as an M-Pesa executive, built and sold a fintech business, and invested in fintech since 2015. Her notable investments include Qonto, Expensya, Dash, Bamboo and THNDR; she is an INSEAD alumna.

Rob Smith· Principal & Head of Operations· Kampala, Ugandain

Investment Principal and Head of Operations at First Circle Capital, having started in PE transaction advisory and strategy consulting in the UK before spending a decade in financial services and technology across East Africa, including as COO of a Tanzanian data analytics business. He holds an MSc from LSE and an MBA from LBS.

Fedde van Dijk· Investment Principalin

Fedde van Dijk is a venture capital investor at First Circle Capital, focusing on African fintech, with 13 years of experience as an investor and operator across Africa and Europe. Much of that work has been in East Africa in strategy, operations, and investing roles at financial services and technology companies, with a focus on credit and agrifintech. He serves on the boards of Power Financial Wellness and Credify, began his career in strategy consulting and transaction advisory for the UK and European private equity markets, and holds degrees from LSE, HEC, and an MBA from LBS.