Launch Africa Ventures, an early-stage venture capital firm, has made a significant investment in Africa’s startup ecosystem. In its second funding round, the firm has committed $4.3 million to 16 promising startups across the continent. This follows the success of their first fund, which saw 133 investments.
Background
Established in July 2020 by co-founders Zachariah George and Janade du Plessis, with Margaret O’Connor as chairperson, Launch Africa Ventures quickly became a major player in the African venture capital scene. The firm’s first fund, Launch Africa Ventures Fund 1, closed in March 2022 after raising $36.3 million from 238 investors across 40 countries.
Fund II Commitment
With the launch of Fund II, Launch Africa Ventures continues to support top technology-driven ventures, aiming to establish them as market leaders. Since 2020, the firm has positioned itself as one of the most active pan-African investors, known for being high-performing, value-adding, and founder-friendly.
Investment Strategy
The second fund follows a strategic investment thesis prioritizing founder diversity, sectoral robustness, market potential, and geographic spread. So far, the firm has invested $4.3 million across 11 African countries, focusing on startups with strong market leadership potential.
Kenya
Three startups in Kenya have received funding:
- Periculum: A data management startup.
- Logistify: An inventory tracking platform.
- Octavia Carbon: A company specializing in direct air capture technology.
South Africa
Three South African startups also received investments:
- Servisor: A car service marketplace.
- Credit Circuit: A provider of working capital services.
- Shiprazor: A logistics platform.
Senegal
Investments in Senegal include:
- Lengo: An FMCG insights platform.
- Paps: A logistics service.
- Solarbox: An energy company.
Other Investments
The remaining investments are spread across various countries:
- Bosso: A property technology startup from Zambia.
- Zuri: A beauty startup from the Democratic Republic of Congo.
- Meditect: An e-health company based in Ivory Coast.
- Kredete: A lending marketplace from Nigeria.
- Viebeg: An e-health startup from Rwanda.
- Wahu!: An electric bike venture from Ghana, formerly known as MANA Mobility.
- Unnamed Egyptian e-health startup.
Conclusion
Launch Africa Ventures’ recent investments reflect a strategic approach to diversifying its portfolio and supporting innovation across the African continent. With a focus on technology-driven ventures, the firm continues to drive growth and development in the region’s burgeoning startup ecosystem.