A United States-based firm called Aries Media Ventures has launched its first fund, Fund I, specifically to back early-stage MediaTech startups that serve Sub-Saharan Africa. The announcement came from Los Angeles on 20 October 2026, and the fund has already placed its first three bets.
The timing matters because media and entertainment are growing rapidly across the continent. Music, film, online content, live events and digital commerce are creating new jobs and new ways for Africans to tell their own stories and build businesses. Yet traditional venture capital has often overlooked this space, preferring sectors such as fintech or logistics. Aries Media Ventures aims to close that gap by bringing not only money but also deep industry connections and practical advice.
From Networking Project to Active Investor
Alykhan Kaba started the Aries Media Project in 2023 as a professional network. Its purpose was simple but powerful: connect founders building media and entertainment businesses in emerging markets with experienced operators, advisors and investors based in global hubs such as Los Angeles, New York and London. Over those three years, the network made countless introductions. Many founders gained valuable relationships. Eventually, the team decided that introductions alone were not enough. The strongest founders needed capital as well. That decision led to the creation of Aries Media Ventures and the launch of Fund I.
Kaba himself brings more than a decade of hands-on experience from major global companies including Live Nation, Entertainment One, Activision Blizzard and NBCUniversal. He has watched large media firms search the world for growth while often missing the innovation happening in places like Lagos, Nairobi, Accra or Johannesburg. His view is clear. Capital should travel to where the good ideas and hard-working founders already are, rather than expecting those founders to travel to where the capital sits.
What the Fund Looks For and How It Works
Fund I invests at the earliest stages: angel, pre-seed and seed. It focuses on technology-enabled businesses that sit at the meeting point of media, entertainment and commerce. These are companies that help creators, event organisers, venues and audiences do more, reach further and earn better.
The fund sources deals in two practical ways. First, it seeks out founders who are already solving real problems in their own markets. Second, it listens carefully to established global media companies that want to expand into Africa or other emerging regions. Those companies often face operational or commercial challenges. Aries then looks for African founders who can build the tools to solve those challenges. In both cases, the goal is the same: back exceptional people building businesses that can scale while staying rooted in the markets they serve.
Alongside the money, portfolio companies receive strategic support drawn from the firm’s network and experience. That can mean introductions to potential partners, advice on product development, help navigating international expansion, or simply the benefit of learning from people who have built and scaled media businesses before.
The First Three Companies Already Receiving Backing
The fund did not wait to announce before putting capital to work. Its first three investments show the kind of businesses it believes in.
Aktivate is a creator marketing platform led by Akinbola Asalu. It helps creators and brands work together more effectively so that African talent can turn influence into sustainable income. HustleSasa, led by Peng Chen, is an event-commerce platform that makes it easier to sell tickets, merchandise and experiences around live events. Book Mahali, founded by Kagwe Mungai, focuses on venue booking and hospitality, helping people find and reserve spaces for events, meetings or celebrations more efficiently.
These three companies operate in different parts of the media and entertainment value chain, yet they share a common thread. Each one uses technology to remove friction and create opportunity for people and businesses across the continent. However, the exact amounts invested and the overall size of Fund I have not been disclosed.
Read Also: Grindstone Ventures Launches $31.2 Million Fund to Scale Africa’s Most Promising Startups
Significance for African Founders and Tech Community
For many African MediaTech founders, the hardest part has never been the idea or the hard work. It has been finding investors who understand both the creative industries and the specific conditions of African markets, including payment systems, data costs, language diversity and cultural preferences. A fund that is deliberately focused on this intersection, led by someone with deep media experience and a track record of connecting emerging-market founders to global networks, is a meaningful development.
The impact can travel far beyond the individual startups. When creators earn more, they produce more and better content. When events run more smoothly and venues are easier to book, local economies benefit. When African stories and experiences reach larger audiences, both on the continent and around the world, the cultural and economic returns multiply. Media has always played a powerful role in how societies see themselves and how the rest of the world sees them.
