A river cuts through rock, not because of its power, but because of its persistence
Adesuwa Rhodes is changing the face of investing and entrepreneurship in Africa one investment at a time
Adesuwa is a leading investment professional and CEO with over 14 years of experience in investment banking and private equity in developed and emerging markets across a number of sectors including healthcare, financial services, technology and consumer goods. Adesuwa is an entrepreneur, CEO, mother, investor and women’s empowerment advocate. She is one of the youngest female private equity fund managers running her own fund in Africa, having launched her fund at 29 years old. She is the Founder and Managing Partner of Aruwa Capital Management, one of the few women owned and led private equity funds in Africa investing into untapped investment opportunities in West Africa in the small to lower mid-market. Adesuwa is focused on using Aruwa Capital Management’s investments as a case study to make the business case to invest in women as fund managers, entrepreneurs, consumers and stakeholders in society. Adesuwa is a mission driven pioneer on a mission to unlock the power of private capital as a catalyst for change in her environment.
Learn More"I am on a mission to unlock the untapped potential of women as capital allocators, consumers, founders, board members, suppliers and across all levels of society, to unlock enhanced financial returns and positive social impact."
~ Adesuwa Rhodes
I had the honour of representing Aruwa Capital at the EDFI MC Corporate Day: Beyond the Crossroads 2025 in Brussels, where I spoke on the panel “Resilience in Action: Lessons from Private Sector Growth in Fragile Markets.” With EDFI MC as one of our Fund II investors, the conversation was an especially meaningful opportunity to share how inclusive capital allocation can strengthen fragile markets and foster sustainable growth. I was joined by Changwe Kumalinga (Good Nature Agro), Lola Masha (Babban Gona), Nilantha Jayanetti (Sarvodaya Development Finance PLC), Kisa Giebink (Okra Solar), and Bart Coenegrachts (EDFI MC) for a thoughtful discussion on how innovative models, including blended finance, are driving business success and resilience across sectors.
I am honoured to have been appointed to the Board of Trustees of the Impact Investors Foundation this September. Joining four distinguished peers- Dr. Godwin Ehigiamusoe- CEO, Lapo Group Dave Uduanu- MD Access ARM Pensions Limited Adewale Ajayi- Partner and Head of Tax, KPMG Nigeria. I am proud to serve as the only female within this group of newly elected leaders committed to advancing impact investing in Nigeria. This appointment represents more than a personal milestone; it is an opportunity to deepen the role of gender-smart perspectives in shaping how capital drives inclusive and sustainable growth across Africa.
I had the pleasure of attending the VNTR Nigeria Investor Roundtable hosted by Victor Bisong, the event brought together members of the global VNTR community and leading local investors in Lagos, Nigeria. The conversations were purposeful, opening doors to new opportunities for collaboration and co-investment, and reaffirming Nigeria’s position as one of the world’s most dynamic startup and innovation ecosystems.
It was a pleasure to speak at the Lagos Venture Finance Summit hosted by VenCapital, where I joined an engaging panel discussion on “How to Launch a Venture Capital Fund in Africa.” We explored what it takes to set up and scale durable, investor-aligned funds on the continent, from building the right structures and governance to differentiating strategies, anchoring early investors, and maintaining resilience throughout the fundraising journey. I was joined by Dr. Dotun Olowoporoku, Managing Partner and General Partner at Ventures Platform; Iyinoluwa Aboyeji, Co-founder and General Partner at Future Africa; and Ashim Egunjobi, Managing Partner at Octerra Capital. The session was expertly moderated by Esohe Igbinoba, Venture Partner at VenCapital.
It was an honour to speak at the first-ever GITEX Nigeria, on the panel “Women in the Rooms, at the Tables and Shaping the Rules.” I was joined by Tommie Edwards of Tech1M and Peju Ibekwe of Sterling One Foundation, with the session expertly moderated by Amaka Joyce of Busha. The conversation highlighted how women are shaping Africa’s tech and investment ecosystem, redefining how capital flows, how innovation is scaled, and how policies are written. At Aruwa Capital Management, we’ve seen first-hand that gender-smart investing is not only inclusive but also transformative for communities and economies.
I was honoured to be featured on How We Made It in Africa, where I had the opportunity to share the full story behind building Aruwa Capital. From being told to “get a male co-founder” to launching one of Africa’s few women-owned private equity funds, the interview reflects on the early struggles, the conviction that kept me going, and the vision that continues to drive our work at Aruwa.
In July 2025, I was honoured to be appointed to the Board of Advancing Women in Investing (AWI), an initiative dedicated to democratising access to funding and opportunity for emerging female capital allocators. This appointment closely aligned with my work at Aruwa Capital Management, where we are proving the business case for investing in women as fund managers, entrepreneurs, consumers, and stakeholders.
In July, I had the honour of attending the EcoNexus Green Business Breakfast hosted by the Executive Governor of Lagos State- Babajide Sanwo-Olu. It was an insightful gathering that spotlighted climate solutions, circular economy opportunities, and the transformational potential of the 80 million Clean Cookstove Project. The session reinforced the importance of collaboration between government, private sector, and investors in unlocking climate action and embedding sustainability into national policy.
I am honoured to be named among the 2025 AFROTECH™ Future 50, a recognition celebrating Black innovators, investors, and changemakers redefining what’s possible across industries. To be included as one of only 10 investors on this global list is both humbling and energising, and a reminder of how far our stories and impact are reaching.
It was a pleasure to speak at the Consumer and Industrial Products and Services (CIPS) Industry Breakfast Session hosted by PwC Nigeria, where I joined a panel on “Building Supply Chain Resilience in a Dynamic Operating Environment.” I shared insights from Aruwa’s perspective, highlighting how locally anchored businesses are developing globally relevant supply chains with agility and long-term vision. I was joined by Emovwreha Nwaefuna, Dr. Chinyere Almona, Gloria Edozie-Ozoigbo, and Sagar Dixit. The session was expertly moderated by Tunde Adedigba.
"I believe the way to effectively provide women with more seats at the table is for us to create our own tables. More women succeeding as capital allocators means more women getting funded, more mentors, more torch-bearers, and more examples to follow. Investing in or with funds like Aruwa Capital Management is a practical way to narrow the gender funding gap and making money while you do so."
- Adesuwa Rhodes
Adesuwa is the Founder & Managing Partner of Aruwa Capital Management an early stage private equity fund investing in rapidly growing businesses in West Africa. With Aruwa Capital and her own personal investments, Adesuwa is focused on uncovering untapped investment opportunities that are typically overlooked and underserved. Adesuwa is passionate about showcasing the natural competitive advantage women allocating capital have when investing in businesses for women and by women. Through a gender lens investment strategy, Adesuwa is focused on generating enhanced financial returns whilst delivering positive social impact with a multiplier effect across societies and economies.
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