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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

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

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

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

📣 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 

Renew Capital Expands Focus in Africa Amid Lessons from Ethiopia After a decade of challenges investing in Ethiopia, Renew Capital is shifting its focus across Africa, targeting tech-enabled, asset-light startups. The venture capital firm plans to invest between $50,000 and $500,000 in over 40 startups within a year, starting with its first West African investment in Affinity, a Ghanaian digital bank. Renew Capital runs two funds, a $6 million angel syndicate and a $15 million follow-on fund, supporting startups with management training, digital marketing, and fundraising. Successful startups in their accelerator can receive up to $4 million in follow-on funding. The firm’s strategy emphasizes finding trustworthy, disciplined founders, with a strong focus on transparency and scalability. As they expand into new regions, including Nigeria, Renew Capital is committed to reshaping perceptions of Africa from a place of giving to a place of investing, driving economic growth and innovation across the continent. #VentureCapital #Africa #Startups https://lnkd.in/d4KuUvEC

African Startups Collectively Raised $217 Million in February, With Nigeria Taking The Lead in Fundraising Efforts In February 2024, African startups bounced back from a slow January, experiencing a notable surge in funding, with Nigeria leading the pack in fundraising activities. As outlined in Africa: The Big Deal report, total startup funding in February soared to nearly $217 million, marking an impressive threefold increase compared to the previous month’s $77 million. While this rebound was significant, the report highlighted that funding levels still fell short of the figures observed during the same period over the past four years. Read More👇 #africanstartups #fintechfunding #bigdealreport #africa

📊 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 

📈 May 2024 African start-up funding highlights thanks to Africa: The Big Deal ➡ Significant rebound May 2024 saw a substantial rebound in start-up funding in Africa, with $187 million raised, compared to just $75 million in April. This makes May the second-highest month in fundraising over the past six months. ➡ High activity A total of 64 ventures received funding of at least $100k, far exceeding the monthly average of 38 from January to April. Of these, 17 ventures raised at least $1 million. ➡ Funding Distribution Grants: 4% Equity: 31% Debt: 65% ($122 million, with significant contributions from M-KOPA and Spiro) ➡ Notable exits Lesaka’s acquisition of Adumo for $85 million. Busbud’s acquisition of Ratality in South Africa. Paystack & friends’ takeover of Brass. Year-to-Date comparison $729 million announced in funding (excluding exits) in 2024 so far. Lower compared to previous periods: $1.7 billion in J-M 2023, $2.7 billion in J-M 2022, and $1.1 billion in J-M 2021. Number of $1m+ deals in 2024: 90 ventures, close to 95 in J-M 2023 and 91 in J-M 2021. ➡ Emerging trends: Climate-related ventures: Funding share has grown from 19% in J-M 2021 to 44% in J-M 2024. Debt financing: Consistently high, representing 35% of all funding announced in Jan-May 2024, in line with the 38% in J-M 2023, a stark contrast to the 4%-8% range in 2019-2022. See the full analysis here https://lnkd.in/dxuMZW5p #Startups #Funding #VentureCapital #Investment #Entrepreneurship #TechNews #BusinessNews #Africa #AfricaRising #AfricanStartups #AfricanTech #AfricaBusiness #InvestInAfrica #ClimateTech #Fintech #EdTech #TechFunding #Innovation #FundingNews #StartupFunding #InvestmentTrends

Great write-up by Kola A. from Ventures Platform Fund I couldn't agree more with Kola's points. My top 3 takeaways are: - Africa demands a patient investment approach, distinct from other continents, due to its underdeveloped infrastructure and opaque markets. - We must move away from a story of charity as the future of African venture capital hinges on demonstrating that it can generate substantial returns. -The journey requires patience and a long-term perspective, but the rewards are substantial for those who dare to invest in Africa’s future. Check out the full article here: https://lnkd.in/dn9wQFqj What's your biggest takeaway from the article? Let's discuss it! #Africa #Tech #Startup #Investment #Innovation #EmergingMarkets