The Venture Codex Logo

The Venture Codex

P1 Ventures

414 Union Street, San Francisco, CA, 12305, United States

Overview

P1 Ventures works as a venture capital firm. They specialize in early-stage industrial technology firms in Africa.

Total investments
27
Lead investments
6
Investments · 12mo
2
Active investors
1
Visit website

Investment portfolio

  • Lua

    Participated · Seed · Apr 2026

    Lua is a full-stack operating system for human-and-agent collaboration that offers one-click deployment and interfaces via CLI or natural language. The platform handles infrastructure, model orchestration, data, channel integrations and monitoring so teams only need to write business logic and choose integrations. It provides developer tooling for technical builders and a visual interface for non-technical teams, both working on the same agents. Lua is growing a Lua Implementation Network of independent partners to deploy agent workforces in local markets. The company was founded in 2024 by Lorcan O’Cathain and Stefan Kruger. Since launching its agent developer platform in October 2025, Lua reported revenue growing close to 30% week-on-week, and in February 2026 more agents were built on Lua than in the entire cumulative period since launch.

  • Chari

    Participated · Series A · Oct 2025

    Founded in 2020 by husband-and-wife team Ismael and Sophia Belkhayat, Chari began as a mobile marketplace enabling corner shops to procure fast-moving consumer goods directly from distributors. The company has since evolved toward a banking-as-a-service model, using its recently obtained payment-institution licence from Bank Al-Maghrib to embed digital payments, credit, and other financial tools inside its merchant app. More than 20,000 small retailers across Morocco, Tunisia, and Côte d’Ivoire now use Chari’s platform, making it one of the region’s largest informal-retail digitisation plays. With a “super app” approach, Chari aims to transform these mom-and-pop stores into grassroots financial access points for underbanked communities. Future plans include opening its in-house financial rails to third-party developers, positioning the startup as a regional fintech enabler across Francophone Africa. To date, Chari has raised roughly $17 million in venture funding, which supports both its commerce logistics operations and the build-out of its fintech infrastructure.

  • Better Auth

    Participated · Seed · Jun 2025

    Better Auth is a TypeScript-based, open-source authentication library built to let developers implement everything from simple sign-ins to enterprise-grade systems directly on their own databases. The product emphasizes self-hosting, extensibility via plug-ins, and built-in support for teams, roles and other common permissions use cases. It was created by Bereket Engida, a self-taught Ethiopian developer who built the initial library in Ethiopia and still writes most of the code. Since its GitHub release in September 2024, Better Auth has seen rapid adoption: 150,000+ weekly downloads, 15,000+ GitHub stars and a Discord community of over 6,000 members. The project has traction among early-stage AI startups that need custom, scalable auth integrations. Better Auth is currently free to use; the roadmap includes a paid enterprise infrastructure that plugs into the open-source base and hiring a small team to maintain the codebase, expand documentation, and support enterprise users. The company also recently graduated from Y Combinator’s Spring batch.

  • Stakpak

    Led · Seed · Apr 2025

    Stakpak is an AI-powered DevOps IDE that simplifies Infrastructure as Code by enabling developers to generate and manage configurations using natural-language prompts and LLMs. The product operates on a pay-per-request model designed to integrate with developer workflows. Founded in 2021 by George Fahmy, the company is headquartered in the United States with its engineering team based in Egypt. Stakpak plans to expand its team across the U.S. and Egypt, prioritizing growth in the American market while maintaining engineering operations in Egypt. The startup raised $500,000 in a pre-seed round to fund those expansion efforts. The company emphasizes reducing infrastructure-related tasks for developers through AI-driven automation.

  • Raenest

    Participated · Series A · Feb 2025

    Raenest offers multicurrency virtual accounts (USD, GBP, EUR) and virtual and physical debit cards through its retail product Geegpay and a separate Raenest for Business platform. The company launched in 2022 as an Employer of Record and quickly pivoted to focus on enabling individuals to receive international payments, later expanding to serve businesses. Since launch it has processed over $1 billion in payment volume and reported 160% growth between 2023 and 2024. Today more than 700,000 individuals and over 300 businesses use Raenest to receive payments, make cross-border transfers, and raise capital; clients include Moniepoint, Helium Health, Fez Delivery, and Matta. Raenest currently operates in Nigeria under a money transfer license, maintains banking partnerships in the U.S. and U.K., and plans to secure licenses to expand into Egypt, Ghana, Kenya, and the U.S. The company is consolidating Geegpay and Raenest for Business under the single Raenest brand and has indicated additional product launches to broaden its financial services.

Team