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Tech News & Podcast | Africa

Launch Africa Ventures Allocates $4.3M Across 16 Startups from Second Fund

Launch Africa Ventures, an early-stage venture capital business, has made 133 investments through its first fund and has now invested US$4.3 million in 16 startups from across the continent as part of its second fund.

Zachariah George, Janade du Plessis, and Margaret O’Connor, the chairperson, founded Launch Africa Ventures in July 2020. The fund’s first fund, Launch Africa Ventures Fund 1, was closed in March 2022 at a cost of US$36.3 million, with contributions from 238 individual and institutional investors across 40 nations.

Launch Africa enterprises stated that it will keep “investing, growing and scaling the continent’s top technology-driven ventures to become market leaders in their respective industries” with the help of Fund II.

The company stated, “As one of the most active pan-African investors in Africa since 2020, we are continuing to be a top-performing, value-adding, and founder-friendly investor, as part of our commitment to the growing African VC and startup ecosystem.”

The second fund has so far deployed US$4.3 million across 11 African nations to support these market-leading possibilities, investing in 16 firms that fit with its investment thesis on founder diversity, industry strength, market opportunity, and geographic reach.

Three of companies are based in Senegal: the FMCG insights platform Lengo, the logistics service Paps, and the energy company Solarbox. Three more are based in South Africa: the vehicle service marketplace Servisor, the working capital service Credit Circuit, and the logistics platform Shiprazor.

Two are based in Kenya (the inventory tracking platform Logistify and the direct air capture company Octavia Carbon), while the other two are based in Nigeria (the loan marketplace Kredete and the data management startup Periculum).

The remaining investments are in the prop-tech firm Bosso from Zambia, the beauty startup Zuri from the Democratic Republic of the Congo, the e-health startup Viebeg from Rwanda, the e-bike company Wahu! from Ghana, the e-health startup Meditect from Ivory Coast, and an Egyptian e-health startup.

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