Fundraising Fox
Amsterdam · Growth
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Investment thesis
XSML Capital invests in local SMEs across underdeveloped African markets that have the potential to become market leaders, providing growth capital alongside hands-on business support that scales with the company. The firm targets entrepreneurs motivated by more than profit — those seeking to improve services, make them more affordable, and contribute to their country's development. A significant share of its portfolio sits in retail/wholesale and manufacturing, supporting greater access to basic consumer goods for growing urban populations and reducing reliance on imports. XSML operates as an impact-oriented, frontier-market investor active in countries such as the DRC, Uganda, Angola, and Zambia.
Source: firm website, verified Sep 27, 2026.
What they invest in
from 3 of 11 portfolio companiesAI & Machine Learning ×2Healthtech ×2Crypto & Web3 ×1Data & Infrastructure ×1E-commerce ×1Fintech ×1Retail Tech ×1
HQs:Uganda×1United States×1
Investments · 11 tracked
founders shown can be your intro pathEcopharm is a pharmacy and beauty retailer in Uganda operating 18 locations and an online store that delivers prescriptions, over-the-counter products, supplements, and beauty and skincare items across the country.
E-commerceHealthtechRetail Tech
Gray Matter Analytics provides healthcare data analytics for value-based contract management and performance monitoring, serving state Medicaid agencies, payors, and providers.
AI & Machine LearningData & InfrastructureHealthtechChicago, US
Sheila Talton(Executive Officer, Director)in
Co-investorsCleveland AvenueHow Women Invest
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
DPXLDT BagsLatitude 15 Degrees HotelMCS AngolapieceQuick PrintRanchers FinestSOS Médecins de Nuit (MDN)Upcycle
Frequently asked questions
- How many investments has XSML Capital made?
- XSML Capital has 11 tracked investments.
- What stage does XSML Capital invest at?
- XSML Capital invests at the Growth stage.
- What is XSML Capital's typical check size?
- XSML Capital typically writes checks of $300K – $10M.
- What sectors does XSML Capital focus on?
- XSML Capital focuses on Advanced Manufacturing, Consumer, Healthtech, Impact & Social Good, Retail Tech, Sector Agnostic.
- Where is XSML Capital located?
- XSML Capital is headquartered in Amsterdam, NL.
- Who does XSML Capital co-invest with?
- XSML Capital most often shares deals with Ambush Capital, Cleveland Avenue, Galaxy Digital Assets Fund, among 7 tracked co-investors.
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