FMO - Dutch entrepreneurial development bank’s Post

Seedstars Africa Ventures I, a venture capital fund focused on early-stage investments in scalable African startups, has achieved its first close at $42 million! This milestone marks a significant step toward bridging the funding gap for innovative startups across the continent. 🚀 💼 Founded by Maxime Bouan, Tamim El Zein, and Bruce Nsereko-Lule, in partnership with Seedstars and LBO France, the fund is designed to address early-stage financing gaps. It offers investments of up to $2M in seed and Series A rounds, with the capacity for follow-on investments of up to $5M. 📈 The fund has already achieved key milestones, including a $30M equity investment from European Investment Bank (EIB) Global earlier this year and an additional $12M raised, with the African Development Bank Group among its backers. These investments highlight a strong commitment to empowering African entrepreneurs. 🌍 To date, Seedstars Africa Ventures I has deployed $10M to five pioneering African startups in critical sectors such as climate, food systems, energy access, internet connectivity, and financial inclusion. These include Beacon Power Services (Nigeria), poa! internet (Kenya), Xeno (Uganda), Bizao | Payment hub in Africa (Ivory Coast), and Shamba Pride (Kenya). Read more: https://lnkd.in/deiyTJwJ ✨Stay in the know! For the latest African news and insights, follow our WhatsApp channel - https://lnkd.in/ddAsW5S4  and never miss an update! 🌍📲 #Africa #Startups #VentureCapital #Funding 

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

Why Africa? Cause the size of opportunities are endless French VC Breega has closed $52m of a targeted $75m seed fund to back African startups. The fund will be managed by partners located in Breega’s new offices in Lagos, Nigeria and Cape Town, South Africa. It will cover Africa’s startup hotspots — Nigeria, Egypt, South Africa and Kenya — as well as several French-speaking African countries like Morocco, Ivory Coast, Congo and Senegal.  With Africa’s population expected to grow by 1bn people by 2050, the #VC plans to invest in solutions that address “core needs” that the continent is set to face across agritech, edtech and healthtech. It’ll also back technologies that underpin the critical infrastructures like fintech, logistics and mobility and energy and climate. #Africa #VC #Startups Mattia Voltaggio Annachiara Moltoni Sara Cropo Antonietta De Sanctis Maroane Abdallaoui Mattia Poletti Luciano De Propris PhD Max Brigonzi Marcel Dridje Carla Napolitano Daniele Vitullo Francesca De Felice Guido Guida

Innovate Africa Fund, a new angel investment initiative co-founded by Kristin H. Wilson and Christian Idiodi, has entered the African startup ecosystem with an initial $2.5 million rollout. This sector-agnostic fund aims to support up to 20 startups in its inaugural year, focusing on innovative solutions to complex challenges such as insecurity, unemployment, and poverty through purpose-driven technology. Since 2019, the African funding landscape has shown significant growth, with disclosed exits exceeding $2.3 billion, marking 13.4% of the total $17.2 billion raised by African startups. However, early-stage founders continue to face hurdles in transitioning from ideation to market fit, exacerbated by a lack of early-stage funding. Innovate Africa Fund addresses these gaps by providing insight-driven capital and a robust support ecosystem tailored to accelerate startups from Minimum Viable Product (MVP) to Product-Market Fit (PMF). Kristin Wilson, Managing Partner of Innovate Africa Fund, emphasized the fund's founder-first approach: "Our mission is to break the cycle where brilliant ideas lack the resources to thrive. Beyond funding, we offer deep expertise and connections to empower founders. Our goal is to ensure innovators have the support needed to succeed in Africa's evolving tech landscape." Christian Idiodi, Founder of Innovate Africa Foundation, highlighted the fund's holistic support package: "Through the Innovate ecosystem, we connect startups with seasoned advisors globally. Financial support alone isn’t sufficient; early-stage founders require strategic partnerships and mentorship. By nurturing startups at the outset, we aim to shape the future of disruptive technology across emerging markets." Applications are now open for African founders who align with the fund's screening criteria: Character, Credibility, Capacity, Courage, Competence, and Context. For more information and to apply, visit https://zurl.co/0Uwn. #InnovateAfrica #StartupFunding #TechInnovation #Entrepreneurship #AfricaTech #VentureCapital #AngelInvestment To read more: https://zurl.co/aedv

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

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

🌍“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 ❤️

Ring Capital Launches $55m for early stage startups in  Francophone West Africa Ring Capital, a prominent venture capital firm, has unveiled Ring Africa, its latest initiative aimed at fostering impact entrepreneurship in French-speaking West Africa. With a target fund size of EUR50 million (US$55 million), Ring Africa seeks to empower young startups dedicated to making significant social and environmental impacts. In its commitment to supporting innovative solutions, Ring Capital operates through various investment vehicles and a philanthropic fund. Building upon the success of its impact seed fund, GENERATIONS, launched in 2023, Ring Africa emerges as a dedicated investment fund focused on nurturing startups in Francophone West Africa. The primary objective of Ring Africa is to fuel the growth of impact entrepreneurship across the region. Targeting startups at pre-seed, seed, and Series A stages, the fund will prioritize investments in solutions tailored to address pressing challenges unique to the African continent. These challenges include transitioning to formal economies, mitigating climate change effects, and fostering sustainable practices in agriculture and consumption. #digitalnews #digitalnewsafrica #technews

With the latest reports about the African startup landscape,🚀 Here's a quick glimpse into the dynamic financial landscape. Venture capital fuels innovation for 31% of startups, while funding elevates aspirations, driving growth with an average of $800 million. Notably, Kenya's $880 million in 2023 underscores a robust appetite for expansion. 💰 Experience the transformative power of funding! Funded startups enjoy a remarkable 72% higher success rate, proving the importance of investment in innovation. 💡 With that being said … 💼Movin Africa is your go-to place for comprehensive financing solutions. From strategic investments to transformative partnerships, we offer a range of support options tailored to meet the unique needs of startups and businesses. Whether you're an ambitious entrepreneur with a groundbreaking idea or a growing startup ready to scale, we're here to provide the strategic guidance you need to succeed. 🌍 So don't hesitate to reach out to us today at [email protected] Linktree: https://lnkd.in/gP9m6y2K #MovinAfrica #StartupFinancing #VentureCapital #EmpowerYourVision

How does data 📊 reveal #Africa’s potential? Startups on the continent raised $3.5 billion in 2023 🌍💰, with promising future projections in a region where 60% of the population is under 25 years old (source: Partech, African Development Bank). Discover how #fundraising and #startups are merging to support emerging markets 📈in a special interview 👇🏻with our Partners Andrea Censoni & Davide Rovera on Startupbusiness.it 🚀