Adesuwa Okunbo Rhodes is currently the Founder and Managing Partner of Aruwa Capital Management, one of the few women owned and managed growth equity funds in Africa. She has over 15 years of investment banking and private equity experience in developed and emerging markets from global institutions such as J.P. Morgan.
In her reflection, Adesuwa shares how women are too often told to “find a mentor” or “grow their network” as the pathway to success, but adds that while guidance and connections matter, they are not enough. Her own breakthrough came when women investors and networks didn’t just encourage her—they backed her with capital. Her message is clear: mentorship opens doors, but funding turns dreams into reality.
“I’ve lost count of the number of times I’ve heard women being told to “find a mentor” or “build their network.” Those things matter; they can open doors, build confidence, and spark ideas. But let’s be honest: without capital, dreams stay as dreams.
When I was raising my first fund, the turning point didn’t come from another round of advice. It came when women investors, angel networks, senior executives, investing clubs who believed in me, decided to put their money behind me. That changed everything and helped me attract larger pools of institutional capital.
Because capital is not just fuel, it’s validation. It says: your vision is worth backing, your solution deserves scale, your leadership belongs here. And once women have that, they run, the results speak for themselves.
So yes, let’s keep mentoring and sponsoring. But please don’t not stop there. The real transformation begins when we move from words to wires, when women’s ideas are funded, not just applauded.”
Over the years, Aruwa Capital has demonstrated what it means to back women with more than words. From investing in PngMe, a female-led fintech providing financial data infrastructure, to supporting Wemy Industries, Nigeria’s first indigenous manufacturer of hygiene products founded by a woman, Aruwa has consistently proven that women-led businesses can deliver scale, impact, and strong returns.
For women looking to access funding, the first step is to ensure their business is investment-ready: a clear value proposition, scalable model, sound governance, and measurable traction. Approaching Aruwa Capital can be done through its website, introductions from networks such as angel groups and accelerators, or directly via investor pitch decks that highlight both the financial and social impact of the venture.