Selma Ribica is a venture capital investor at First Circle who was an early M-Pesa executive responsible for expansion and product development, then founded Lebara Financial Services designing products for migrant communities before becoming a full-time investor. She achieved a 33x MOIC on her personal angel portfolio with early investments in companies like Expensya, and now co-leads one of the few Africa-based specialist fintech funds run by female managing partners with backing from major development finance institutions like IFC.
About their Fund
First Circle
Sectors
Fintech, Insurtech, SaaS, Health, Logistics
Rounds
Pre-Seed - Seed
Avg Check Size
$100K - $250K
Notable Investments
First Circle is a female-led venture capital fund that invests exclusively in African fintech companies, with both general partners having built and exited fintech businesses themselves before becoming investors. The fund takes a concentrated approach with only 24 companies in their portfolio and provides hands-on operational support to help African fintech startups prepare for Series A funding and scale across multiple markets.
Other partners at the fund
Notable Fund
Investments
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Popular Investors
investor name
Active in
Rounds
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Links
Deeptech / Hardware
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Robotics
Biotech
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12
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Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
Defense
Deeptech / Hardware
Energy
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7
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Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
Unknown
Defense
Deeptech / Hardware
Energy
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7
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Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
Unknown
Biotech
Health
Deeptech / Hardware
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2
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Unknown
Pre-Seed - Seed
Unknown
$250K - $2M
Unknown
Climate
Deeptech / Hardware
Materials
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4
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Unknown
Pre-Seed - Seed
Unknown
$400K - $1.5M
Unknown
Deeptech / Hardware
Robotics
Biotech
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7
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Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
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Deeptech / Hardware
Robotics
Biotech
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2
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Unknown
Pre-Seed - Seed
Unknown
~$750K
Unknown
Fintech
Deeptech / Hardware
Devtools
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2
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Unknown
Pre-Seed - Series A
Unknown
$250K-$1M
Unknown
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