Ndovu Wealth, a Kenyan fund manager licenced by the Capital Markets Authority (CMA), has launched a multi-asset fund with a $2,500 minimum ticket, targeting higher-income investors as wealthtech startups push beyond entry-level products. The move shows how local fintechs are pushing into territory long held by private wealth managers and offshore brokers, staking their growth on the idea that a growing base of affluent, digitally native users will pay for guided access to global markets. The Kibaba Multi-Asset Special Fund, announced in Nairobi on Tuesday, offers exposure to global equities, fixed income, Real Estate Investment Trusts (REITs ), Exchange-Traded Funds (ETFs ), and commodities through Ndovu’s app, with minimum investments set at KES 250,000 ($1,930) or $2,500 for dollar accounts. The amount exceeds the thresholds that powered the first wave of Kenyan investing apps like Hisa and Chumz, some of which built scale by allowing users to start with a few thousand shillings. The higher minimum also narrows the addressable market in a country where most investors remain price-sensitive. “We created the Kibaba Multi-Asset Special Fund in response to the evolving investor demands in the region,” said chief executive Radhika Bhachu, pointing to rising interest in offshore exposure. Retail investors who entered markets through money market funds and savings apps are moving into dollar assets to hedge against currency pressure and inflation. Kenya’s collective investment schemes market has grown steadily in recent years, with fund managers reporting increased demand for foreign-denominated products as the shilling weakened through 2023 and 2024. Local fintechs have been strong at onboarding first-time investors but weak at keeping them as balances grow. Many users migrate to global platforms like Interactive Brokers that offer wider asset access or to traditional managers that provide structured portfolios. Ndovu wraps a regulated fund inside a digital interface that handles onboarding, payments, and portfolio tracking, while adjusting allocations using market data. This places the company in more direct competition with international brokerages that offer self-directed investing, as well as financial institutions like Standard Investment Bank and other licenced managers targeting high-net-worth clients.