Reflect Ventures
Venture capitalActively deployingMenlo Park · Pre-Seed–Series A · 10 people tracked
Investment thesis
Reflect Ventures invests through funds and syndicates in B2B and B2B2C companies operating in emerging markets. Its focus areas include logistics, supply chain, distribution, transport, and fintech rails. The firm's funds and syndicates are open only to accredited investors in accordance with US SEC rules, and it invites accredited investors and startup referrals that fit its thesis.
Source: firm website, verified Aug 3, 2026.
Team · 10 people
from the firm's website
What they invest in
from 8 of 44 portfolio companiesB2B Marketplaces ×4Logistics & Supply Chain ×4SaaS ×4Consumer ×3Mobility & Transportation ×3AI & Machine Learning ×2E-commerce ×2Fintech ×2
HQs:Pakistan×2Bangladesh×1Kenya×1Morocco×1Nigeria×1Senegal×1
Investments · 44 tracked
founders shown can be your intro pathBy year:2024 · 22023 · 46 dated
Chari is a fintech app available in Morocco that provides mobile money services including phone recharges, bill payments, peer-to-peer transfers, and Visa card issuance.
ConsumerE-commerceFintechFoodTechCasablanca, MA
Ismael Belkhayat(Founder)inSophia Alj(Founder)in
Co-investorsVKAV (Verod-Kepple Africa Ventures)Y Combinator
Dastgyr operates a B2B marketplace connecting retailers, wholesalers, exporters, and suppliers to trade products and access capital.
B2B MarketplacesE-commerceFintechRetail TechKarachi, PK
Muhammad Owais Qureshi(Founder)inZohaib Ali(Founder)in
Co-investorsADB VenturesCedar Mundi VenturesCentury Oak VenturesIndus Valley CapitalKhwarizmi VenturesKube VC+3 more
SaaS-enabled freight marketplace digitizing the agro-freight logistics landscape in Brazil
Sao Paulo - Sp
Pedro Azevedo(Founder)inPedro De Campos Azevedo(Director)Alexandre Stephen(Director)Luis Fernando Martinez(Director)Rodrigo Da Costa Pinto Silva Goncalves(Director)
BoardWill Poole(Director)in
Co-investorsCapria VenturesArrebol CapitalThe Yield Lab Latam
Jatri is a global B2B travel commerce platform that digitizes transport operators and travel buyers through a unified technology and finance ecosystem.
B2B MarketplacesConsumerLogistics & Supply ChainMobility & TransportationSaaSTravel & HospitalityDhaka, BD
Aziz Arman(Founder & CEO)
Co-investorsGobi PartnersLoftyInc CapitalSprint VcBrain-Too-Free VenturesDoha Tech AngelsDVC+2 more
Maad is a commerce infrastructure platform for consumer brands, manufacturers, and importers, combining market intelligence, field activation, owned logistics (warehouse and GPS-tracked fleet), consumer engagement, and financial services (retailer credit and incentives) into one integrated system.
AI & Machine LearningB2B MarketplacesLogistics & Supply Chain
Co-investorsOui CapitalAlumni VenturesDFS LabProparcoVentures PlatformVoltron Capital
Renda provides technology solutions for logistics and mobility businesses operating in emerging markets, enabling operational optimization and expansion across Africa, including Nigeria, Kenya, Uganda, Rwanda, and Tanzania.
B2B MarketplacesLogistics & Supply ChainMobility & TransportationSaaSLagos, NG
Damilola Owoeye(SVP, Fulfilment & Value-Added Services)in
Co-investorsFounders Factory AfricaIngressive CapitalTechstarsMAGIC FundVastly Valuable Ventures
Tappi is a fan engagement platform for music that offers artist moments, exclusive drops, and direct connections between fans and the artists they follow, extending beyond standard streaming.
ConsumerCreator EconomyMedia & Entertainment
Co-investorsJumpstart VenturesChui VenturesDigital Currency GroupgrowX VenturesMercy Corps VenturesOrbit Startups+2 more
TruckItIn operates a freight and logistics platform offering live shipment tracking, fleet management, and analytics, along with a shared-inbox customer service tool for teams.
Logistics & Supply ChainMobility & TransportationSaaSKarachi, PK
Haider Navid(Co-Founder & Chief Product Officer)inMuhammad Sarmad Farooq(Co-Founder & CEO)inRaza Afzal(Co-Founder & Chief Commercial Officer)in
Co-investorsADB VenturesAmaana CapitalFatima Gobi VenturesPICUS CAPITALWamda Capital
Tappi provides AI-powered reputation and loyalty platform tools for businesses, helping them turn customer interactions and payments data into insights, reviews, and revenue growth.
AI & Machine LearningMarketing TechSaaSNairobi, KE
Co-investorsAcasia VenturesAjim CapitalDigital Currency GroupMaC Venture CapitalWestbound Equity PartnersChui Ventures+5 more
Portfolio news
latest coverage across their companiesChari · technext24.com · Oct 15, 2025
Frequently asked questions
- How many investments has Reflect Ventures made?
- Reflect Ventures has 39 tracked investments.
- What stage does Reflect Ventures invest at?
- Reflect Ventures invests at the Pre-Seed, Seed, Series A stages.
- What is Reflect Ventures's typical check size?
- Reflect Ventures typically writes checks of $120K – $37M.
- What sectors does Reflect Ventures focus on?
- Reflect Ventures focuses on E-commerce, Fintech, Logistics & Supply Chain.
- Where is Reflect Ventures located?
- Reflect Ventures is headquartered in Menlo Park, US.
- Who does Reflect Ventures co-invest with?
- Reflect Ventures most often shares deals with ADB Ventures, PICUS CAPITAL, Techstars, among 17 tracked co-investors.
Media · Podcasts & interviews
featuring the teamMichel Friedman - Partner Reflect Ventures
Charles Cormier Podcast - CEO Wisdom · Michel Friedman
59. Michel Friedman | Reflect Ventures
misaal podcast · Michel Friedman
#EmergingMarkets#VentureCapital-Michel Friedman-Reflect Ventures
PHBS ISU Entrepreneurs · Michel Friedman
Similar investors
August Capital is a venture capital firm that invests in a small number of companies, providing hands-on support to entrepreneurs building their businesses.
Cherubic Ventures is known for investing before a startup even launches or reaches product-market fit, often as the first institutional investor, while also setting aside half of its latest fund for follow-on support all the way through pre-IPO; it was also one of the first venture firms to operate as a solo general partner and has grown into one of the largest funds run that way. Founded by Matt Cheng, who previously built two companies that each reached over $1 billion in public market value, the firm was designed from the start to invest across both the U.S. and Asia, backing early breakout companies in places like Croatia, Bangladesh, Japan, and Taiwan in addition to the U.S., with its Taipei roots still central to its identity alongside its Silicon Valley presence.
Golden Gate Ventures is an early-stage venture capital firm that has invested in founders across Southeast Asia since 2011.
idacapital invests in scalable, high-growth companies that address societal and environmental challenges while pursuing financial returns. It targets ventures with disruptive ideas going after large or underserved market opportunities.
Render Capital is an early-stage venture capital firm that focuses on startups in the Midwest and South regions.