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🌍“Infinite opportunities in Africa’s tech boom”: Breega launches $75m African seed fund 💡 Paris-based VC Breega has announced a $75m seed fund to invest in African startups, expanding its focus to Nigeria, South Africa, Kenya, and beyond. With $52m already raised, Breega is doubling down on a continent where they see “infinite opportunities,” says cofounder Ben Marrel 🚀 The fund will target agritech, edtech, healthtech, and infrastructure-focused startups across Africa’s key markets, with investments ranging from $100k to $2m. Offices in Lagos and Cape Town will anchor the firm’s local presence, driving impact where it’s needed most. 📈 Why now? Africa’s population is set to soar from 1.5bn to 2.5bn by 2050, creating immense demand for innovative solutions. Marrel emphasises: “This growth can’t be managed without technology.” 🤝 A question for the team at Breega. Breega describes the opportunities in Africa as ‘infinite’—how does this align with your ethos of creating sustainable, long-term value in markets that require patience, cultural understanding, and local expertise? Ben Marrel Daniel Shellard Nuan Zhang Melvyn Lubega Tosin Faniro-Dada #fund #africa Credit goes to Daphné Leprince-Ringuet for this amazing article ❤️

We're investing in the growth of early-stage tech startups across Africa through Breega's first close of its latest fund of USD 75 mln. Breega, an experienced #venturecapital firm based in Paris, recently launched their "Africa Seed I" fund with a focus on startup hotspots like Nigeria, Egypt, Kenya, and South Africa, but also Francophone countries including Ivory Coast and Cameroon. With the aim to become one of the fastest-scaling VCs across the continent, the fund focuses on various sectors linked to the SDGs, including climate tech, agritech, and fintech. Through our #FMOVenturesProgram, we're providing EUR 5 mln in equity as the fund focuses on supporting (very) early-stage startups with high growth potential, giving them the best chance possible to scale sustainably. This aligns strongly with both our broader 2030 Strategy and Ventures Program strategy, given the focus on pioneering and seed stage investments, as well as supporting entrepreneurs both in nascent VC markets. We're thrilled to be collaborating with Breega and look forward to stimulating seed capital in local ecosystems in Africa and creating more entrepreneurship opportunities across the continent. Learn more about our Ventures Program here: https://lnkd.in/ecyusHfm #ImpactInvesting

Paris VC Breega announces $75 million Africa fund launch Paris-based #VC firm #Breega has launched its first Africa-focused fund, with an impressive $75 million aimed at pre-seed and seed startups across the continent. This marks Breega's sixth fund overall and the first outside of Europe, underscoring its commitment to Africa's burgeoning tech ecosystem. Breega was founded by Ben Marrel, who also serves as the CEO. Leading the Africa fund are Melvyn Lubega, co-founder of the edtech unicorn Go1, and Tosin Faniro-Dada, CPA, former CEO of Endeavor Nigeria. The fund has received significant backing from institutions such as Bpifrance and the Dutch entrepreneurial development bank, FMO. The focus of this fund will be on key markets including Nigeria, Egypt, South Africa, Kenya, and Francophone Africa, which includes countries like Morocco, Senegal, Ivory Coast, Cameroon, and the DRC. Breega plans to invest between $100,000 and $2 million in startups operating in high-impact sectors such as fintech, health tech, proptech, logistics, and edtech. Breega’s approach is unique, as it offers more than just capital. With over a quarter of their team dedicated to supporting portfolio companies, Breega provides comprehensive operational expertise in areas like go-to-market strategy, talent management, governance, and brand communications. The launch of Breega’s Africa fund is a significant milestone for the continent’s tech ecosystem. It is poised to bring more unicorns and transformative solutions to the market, fostering innovation and addressing unique local challenges. With new offices in Lagos and Cape Town, Breega is well-positioned to tap into Africa's immense opportunities and replicate its European success. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

📊 Key Highlights from Africa's Startup Funding in October 2024 . . Despite a global VC slowdown, African sectors like fintech and renewable energy continue to secure significant investments. In October 2024, African startups raised an impressive $254 million across 42 deals, making it the best October since 2019 and the second-highest month of the year. 💡 Notable Stats: 🌍 $1.7 billion raised in 2024 across 393 deals—though this marks a 32% drop from 2023. 🌍 Fintech dominated, accounting for 60% of October’s funding, largely due to Moniepoint’s $110M Series C round, setting it up as a potential unicorn. 🌍 Geographic Focus: 60% of October’s funds went to Nigerian startups. 🚺 Gender Disparity Remains: Despite increased attention to diversity, a staggering 98% of funds went to male-led startups, with 97% lacking female founders. Globally, startup funding showed signs of recovery, with $25 billion raised in October. Yet, securing funds remains a challenge in Africa’s ecosystem, especially for female founders. #AfricaTech #StartupFunding #Fintech #GenderEquality #Ghana #Nigeria #TheMarketReminder #Startups 

🧭 Let's keep exploring the Ugandan startup ecosystem ✈️ 🇺🇬 𝗨𝗴𝗮𝗻𝗱𝗮𝗻 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝗧𝗼𝗽 𝟭𝟬 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝗥𝗼𝘂𝗻𝗱𝘀 𝘀𝗶𝗻𝗰𝗲 𝟮𝟬𝟭𝟵 💰 🚀 Ugandan startups raised a 𝘁𝗼𝘁𝗮𝗹 𝗼𝗳 $𝟭𝟴𝟮.𝟱𝗺 𝘀𝗶𝗻𝗰𝗲 𝟮𝟬𝟭𝟵 🇺🇬 Ugandan startups 𝗿𝗮𝗶𝘀𝗲𝗱 $𝟭𝟵𝗺 𝗶𝗻 𝟮𝟬𝟮𝟰 (8 months) 🇺🇬 Ugandan startups raised $𝟰.𝟴𝗺 𝗼𝗻𝗹𝘆 𝗶𝗻 𝟮𝟬𝟮𝟯 💰 𝟭𝟬 𝗿𝗼𝘂𝗻𝗱𝘀 𝗼𝗻𝗹𝘆 so far in 2024 🌍 𝟭.𝟯% 𝗼𝗻𝗹𝘆 𝗼𝗳 𝘁𝗼𝘁𝗮𝗹 𝗳𝘂𝗻𝗱𝗶𝗻𝗴 raised in Africa in 2024 so far 🇰🇪 Compared to 𝟮𝟳% 𝗳𝗼𝗿 𝗞𝗲𝗻𝘆𝗮 😱  🏦 $𝟭𝟱.𝟮𝗺 𝗿𝗮𝗶𝘀𝗲𝗱 𝗶𝗻 𝗱𝗲𝗯𝘁 (80%) in 2024 🦄 $3.8m raised in equity (20%) in 2024 🥇 Biggest round Asaak $30m Pre Series A Round 🥈 Tugende $17m Debt Round 🥉 Watu Credit $15m Debt Round 🚀 Other startups XENO Investment, Numida (YC W22), SolarNow BV, Zembo, SafeBoda, Emata, Neopenda, Ensibuuko, Zofi Cash, gnuGrid CRB, Opareta, Karpolax, eMaisha Pay (Baobab ‘24)... 🙏 Thanks Africa: The Big Deal for the data #Uganda #Startups #TechInAfrica #VentureCapital #Funding #Entrepreneurs #Founders Tech in Africa #EastAfrica #SubSaharanAfrica

Launch Africa Ventures Fund II Gains Momentum with $4.3 Million Invested. Since its inception, the firm has made notable impacts by investing in 133 startups across 22 African countries through its first fund, which closed at $36.3 million in March 2022. Launch Base Africa's approach focuses on identifying startups with diverse founding teams, strong growth potential, and the ability to address substantial market opportunities. This strategy has led to investments in a wide range of sectors, including fintech, e-commerce, healthtech, and clean energy, reflecting the richness and diversity of the African startup landscape. Building on the success of its first fund, Launch Africa introduced its second fund, Launch Africa Ventures Fund II, with an ambitious target of $75-100 million. Already, Fund II has deployed $4.3 million across 16 diverse startups in 11 African countries, demonstrating Launch Africa's ongoing commitment to fostering innovation and growth. The portfolio of Fund II includes 16 promising startups such as Servisor in South Africa, Lengo AI in Senegal, Logistify in Kenya, and Periculum in Nigeria, Bosso in Zambia, Zuri in the DRC, Meditect in Ivory Coast, Viebeg in Rwanda, Wahu Mobility Ltd. from Ghana and an undisclosed Egyptian e-health startup. Find out more: https://lnkd.in/dHP9EHKA #Startups #Africa #Tech #AI #Funding

📣 JUST ANNOUNCED: IFC - International Finance Corporation is investing in female-founded Janngo Capital’s Startup Fund. The fund, which just closed at €73 million (20% more than its initial target), will support tech and tech-enabled startups in Africa, with a focus on women entrepreneurs and businesses in Francophone West Africa, a region particularly underserved by venture capital. IFC’s investment is part of #IFCStartupCatalyst, which helps address funding gaps in underserved venture capital ecosystems by supporting and investing in incubators, accelerators, and seed funds focused on emerging markets.  📲 Read more about Janngo Capital’s Startup Fund on TechCrunch: https://lnkd.in/g3_93stp 📲 Read more about IFC Startup Catalyst: https://lnkd.in/gF8vXPtR Janngo.africa, Fatoumata BA, IFC Africa, Farid Fezoua, Mohamed Eissa, Hoi Ying So, Marième Diop, Hemaka Priyanatha, CFA, Aya Imai, Laurien Field #VCfund #VC #VentureCapital #AfricanStartups #WomenEntrepreneurs 

African VC Investment Wey Fit Make You MARA (Translation - crazy investment story) Once a startup fails after raising capital in Africa, there is always an uproar because the ripple effect is felt throughout the market. This was evident with the recent collapse of a company that burned through $16 million within 3 years (madness), reinforcing my belief that Africans should lead investments in Africa. Data underscores this perspective. According to Partech Africa, African startups raised $5.2 billion in 2021, with African-led ventures often outperforming their counterparts. Companies like Paystack, PiggyVest, Flutterwave, and Chowdeck have demonstrated remarkable success. Paystack, for instance, was acquired by Stripe for $200 million, and Flutterwave has reached a valuation of over $3 billion. Chowdeck's rapid growth within a year is another testament to the power of local leadership. The importance of African-led startup investing lies in the deep understanding of the local market. Brands like Chowdeck have scaled rapidly because, in times of financial scarcity, people prioritize essential needs like food so it makes sense to invest in one that drives that. Similarly, fashion-based brands have expanded to international markets by catering to the demand for African-inspired clothing. Foreign investors often chase the next shiny product, but that approach doesn't work in this part of the world. Africa's growth potential is immense, but it requires a nuanced understanding that foreign investors often lack. The value-based system of startups doesn't apply here; in Africa, companies that generate revenue are the true leaders. This is why the richest man in Africa is a commodity trader. A few years ago, there were significant challenges with the adoption of online payments, and efforts are still ongoing to increase adoption in various regions. So investing $16 million in a blockchain startup might not be the best move without understanding these local dynamics especially one with little to no checks in place. This is why I am excited about what we are building—leading from the front to ensure that the right African startups receive the support they need to scale across the continent and achieve global impact. #Africaninvesting #startupstories #startup

𝗕𝗿𝗲𝗲𝗴𝗮 𝗟𝗮𝘂𝗻𝗰𝗵𝗲𝘀 $𝟳𝟱𝗠 𝗔𝗳𝗿𝗶𝗰𝗮𝗻 𝗙𝘂𝗻𝗱 🌍 🚀 Breega known for supporting startups like Moneybox and Curve has secured $52m for its new $75m African fund, with a final close expected by year-end. 📍 The firm has opened offices in Lagos, Nigeria, and Cape Town, South Africa, focusing on investments in: 🇳🇬 Nigeria, 🇪🇬 Egypt, 🇿🇦 South Africa, 🇰🇪 Kenya, and Francophone countries like Morocco, Senegal, and Ivory Coast. 💵 Breega will invest $100k to $2m in seed-stage startups, reserving 30-40% for follow-on rounds. 🔑 Focus Areas include agritech, edtech, healthtech, fintech, logistics, energy, and climate solutions. 🗨️ Co-founder Ben Marrel highlights Africa’s booming population (2.5 billion by 2050) as a massive opportunity: “You need to feed, house, educate, and care for these people. The opportunities are endless.” 🌟 Breega has already invested in nine African startups, including Sava, Kwara, and Numida, with plans to drive even greater impact. Learn more: (https://lnkd.in/g9uaYZZw) #Innovation #AfricaTech #Breega #Startups

Sawari Ventures, a leading venture capital firm from Egypt, is launching its second fund, #SawariVenturesII, with plans to raise $200 million. The firm is expanding beyond North Africa to invest in Kenya and West Africa, focusing on driving growth in startups across the continent. ☑️ Key Highlights: - $200M Fund: Sawari Ventures II will invest 70% ($140 million) in Egyptian startups, with the rest targeting #Kenya and #WestAfricanmarkets. - Series A & B Focus: Primarily investing in startups that have already gained early success, looking for Series A and B funding. - Sector Priorities: The fund will prioritize #Fintech, #DeepTech, #Healthtech, #ClimateTech, #DigitalEducation, and #AgriculturalTechnology —industries with immense growth potential. ❇️ The partnership with Bpifrance opens doors for cross-border collaboration between Africa and France, enabling an exchange of innovation, talent, and capital. This collaboration helps African startups tap into French R&D and French businesses expand into the African market. ✅ African Startups will be able to: - Access to Capital: The fund brings much-needed financial support to help African startups scale. - Cross-border Growth: Startups can now benefit from international collaboration and expertise through Sawari Ventures and Bpifrance. - Support for Emerging Sectors: By focusing on key sectors like Fintech and Climate Tech, Sawari Ventures is helping shape the future of innovation in Africa. Here is more: https://lnkd.in/dBK-HQVN #SawariVentures #Bpifrance #AfricanStartups #Fintech #VentureCapital #Kenya #WestAfrica #Innovation #Entrepreneurship