Adesuwa Okunbo-Rhodes recently shot into the limelight after clips from her interview with a US-based content creator went viral on social media, with her wealth of knowledge and perspective on money and investing earning her widespread admiration.
Okunbo-Rhodes is one of Africa’s leading private equity investors and the founder of Aruwa Capital Management, a firm dedicated to investing in businesses that create both financial returns and social impact.
In a follow-up interview on the Nigerian Audacity Podcast hosted by former Finance Minister Kemi Adeosun, the 36-year-old revealed that she landed her first investment banking job at just 18 years old with Lehman Brothers before joining J.P. Morgan at the age of 20. The revelation surprised many Nigerians and sparked conversations about career ambition, excellence, and building global careers at a young age.
Here are 9 things to know about Adesuwa Okunbo-Rhodes.
1. She is the daughter of the late billionaire Captain Hosa Okunbo
Adesuwa Okunbo Rhodes was born on 16 February 1990 in Lagos State, Nigeria. She is the daughter of the late Idahosa “Hosa” Wells Okunbo, a prominent Edo-born business magnate, investor, philanthropist, and trained commercial pilot who died in 2021 at the age of 63. He founded and chaired companies across sectors including petroleum, telecommunications, power, and real estate.
Her sister, Olori Ivie Atutwase, is the wife of the Olu of Warri.
2. She has a degree in economics
After her primary education at Chrisland Primary School in Opebi, Lagos, she attended Atlantic Hall in Lagos for about a year before moving to England to continue her secondary education at St. Lawrence College in Ramsgate.
Adesuwa bagged a degree in economics from the University of Bristol, which helped shape her successful career in investment banking and private equity.
3. She wanted to be an investment banker at age 15
In a 2022 interview, Adesuwa revealed that at the age of 15, she already knew she wanted to become an investment banker.
4. She started her investment banking career at just 18
One of the biggest revelations from her recent interview was that she secured her first investment banking role at Lehman Brothers at 18 while studying at university.
After her time at Lehman Brothers, she joined global financial giant J.P. Morgan at age 20, where she worked on mergers, acquisitions, and leveraged finance deals worth billions of dollars across developed and emerging markets. The experience gave her exposure to world-class financial institutions and global investment practices.
5. She returned to Nigeria to solve a funding problem
Adesuwa returned to Nigeria in 2014 after recognizing a major financing gap affecting African SMEs, where she co-founded Syntaxis Capital Africa, a growth capital provider for small and medium-sized enterprises (SMEs) in Nigeria and broader Sub-Saharan Africa.
She observed that businesses seeking between $1 million and $3 million often struggled to access capital because they were considered too large for banks and too small for many private equity firms.
She said, however, it took her 8 years to raise her first fund.
6. She founded Aruwa Capital to support overlooked businesses
In 2019, she established Aruwa Capital Management after buying out her former employers. Instead of chasing an ambitious $100 million fund from the outset, she intentionally started with a $20 million fund to build credibility and demonstrate results.
The first fund exceeded $10 million, making her the first female solo general partner in Nigeria to raise over $10 million for a debut institutional fund. A significant milestone came in 2022 when she successfully closed a $20 million second fund as the youngest solo general partner in the country.
Today, Aruwa Capital manages approximately $80 million in assets across two funds and has invested in 16 companies.
7. She is passionate about investing in women
One issue that deeply concerned Adesuwa was the lack of funding available to female entrepreneurs.
According to her, despite Africa having one of the highest rates of female entrepreneurship globally, less than 2% of available investment capital was going to women-led businesses.
Through Aruwa Capital, a Lagos-based, female-founded and -led growth equity and impact investment company, she is helping close that gap by intentionally investing in women-led and women-focused companies.
8. She has received several international recognitions
Her work has earned her numerous recognitions over the years.
- One of NBC Washington’s Top 35 Women Moving Africa Forward (2020)
- Black Women in Asset Management (BWAM) Top 40 Under 40 awardee (2022)
- 2X Global Woman Fund Manager of the Year (2023)
- 150 EKO Aspire Women IWD Award from the Executive Governor of Lagos State, Babajide Sanwo-Olu, in celebration of International Women’s Day (2023)
- Leading Ladies in Africa’s 100 Most Inspiring Women (2023)
- Empower Africa’s 50 Impactful Women Driving Business in Africa (2023)
- Choiseul 100 Africa Laureates for the third consecutive year (2022, 2023, and 2024)
- GP Founder Award, Women in Private Equity Award, and People’s Choice Award from Private Equity Africa (2024)
9. She is married with two sons
Adesuwa Okunbo Rhodes is married to her longtime sweetheart, whom she met at age 18, and is a mother of two sons.