In a show of unwavering commitment to Africa’s technology and business landscape, Early-stage VC firm, Launch Africa Ventures, has invested a total of US$4.3 million in 16 startups from across the continent so far as part of its second fund. This comes off the back of having made 133 investments via its first fund.
So far, the second fund has invested in 16 startups that align with its focus on founder diversity, sector strength, market opportunities, and geographic reach, deploying $4.3 million across 11 African countries.
Launch Africa Ventures made its entry into the African tech space in July 2020 with Zachariah George, Janade du Plessis, along with chairperson, Margaret O’Connor as its masterminds. Zachariah’s investment banking together with Janade’s expertise in entrepreneurship, research and banking provided the early foundation from which the broader Launch Africa team have gone on to invest, grow and scale more than 150 startups across Africa solving critical funding challenges across multiple sectors.
The company’s inaugural fund, Launch Africa Fund 1, was raised in March 2022 at $36.3 million. This funding saw investments from 238 retail and institutional investors in 40 countries. Through Fund 1, Launch Africa Ventures invested in over 133 African startups.
As a statement of purpose, the investment company aims to convert investments into distributions and launch new funds as a way of nurturing top-performing portfolio companies.
The success it had in this endeavor was due to its ability to foster strong relationships, democratize venture capital access and leaen from global ecosystems. It believes in closing the funding gap as being vital for Africa’s startup landscape.
So far, the second fund has invested in 16 startups that align with its investment thesis on founder diversity, sector strength, market opportunities, and geographic reach. Launch Africa Ventures has deployed US$4.3 million across 11 African couniries to support these market-leading opportunities.
With Fund II, Launch Africa Ventures said it continues to “invest, grow and scale the continent’s top technology-driven ventures to become market leaders in their respective industries”.
“As one of the most active pan-African investors in Africa since 2020, we are maintaining our commitment to the growing African VC and startup ecosystem by continuing to be a top-performing, value-adding and founder-friendly investor,” the company said.
Three of the investment beneficiaries are from South Africa. They include car service marketplace Servisor, working capital service Credit Circuit, and logistics platform Shiprazor. There are another three from Senegal – FMCG insights platform Lengo, logistics service Paps, and energy company Solarbox.
Two of those startups are from Kenya – inventory tracking platform Logistify, and direct air capture company Octavia Carbon. Among the number are another two from Nigeria, in the shape of data management startup Periculum and lending marketplace Kredete.
The rest of the investments are Zambian prop-tech startup Bosso, DRC-based beauty startup Zuri, Ivory Coast-based e-health company Meditect, Rwandan e-health startup Viebeg, Ghanaian e-bike venture Wahu!, formerly MANA Mobility, and an Egyptian e-health startup.
