FrontEnd Ventures: Our first GP Facility investment

We are excited to announce a new investment in FrontEnd Ventures, a Kenyan early-stage venture fund committed to reshaping the local startup ecosystem. This is the first deal under Small Foundation’s GP Working Capital Facility, which was launched in February to support African fund managers with the operational runway to raise capital and reach financial close. 

FrontEnd is locally–led, focused on underrepresented founders, and working to strengthen the wider venture ecosystem. The fund invests in key sectors such as fintech, health tech, logistics, and software, with a strong emphasis on supporting local and female founders. 

FrontEnd Ventures exemplifies the kind of fund we set out to support with our GP Working Capital Facility. Locally led and ecosystem-focused, they’re not just deploying capital—they’re actively reshaping Kenya’s venture landscape to unlock local capital.

Karina Wong, Head of Investments at Small Foundation 

In addition to investing in startups, FrontEnd plays a broader ecosystem-building role — advocating for greater local participation in venture capital and engaging pension trustees and fund managers in targeted education programmes. These efforts aim to unlock local institutional capital, creating a more informed and confident base of investors to back early-stage businesses.

The fund is raising US$8.5 million to invest in tech and tech-enabled startups in Kenya. It focuses on the MVP and seed stage, follows on at Series A, and exits at Series B and beyond. To date, FrontEnd has backed more than ten startups, with many already generating revenue, attracting follow-on funding, and expanding into new markets. 

FrontEnd is laying the groundwork for a more inclusive venture ecosystem in Kenya — unlocking opportunity for local founders and building pathways for local capital to participate. We are proud to support their vision and encourage others to join us in helping FrontEnd reach final close and scale their impact.