Saviu Ventures, a well-established venture capital firm focusing on startups in Francophone Africa, has achieved a successful initial closing of €12 million for its second fund. The funding round garnered substantial support from private investors, including notable French and Kenyan family offices. Co-founded by Benoit Delestre and Samuel Touboul, Saviu Ventures is now poised to advance and empower the emerging startup ecosystem in the Francophone region.
Active in the Francophone Africa startup landscape since 2018, the venture capital firm initially deployed a €10 million first fund. With the current fund, Saviu Ventures aims to expand its investments primarily in fintechs, health-techs, and climate-techs, with a slight reduction in focus on e-mobility, e-commerce, and e-logistics.
In an exclusive interview with TechCrunch, Benoit Delestre stated, “We will follow the same strategy as our first fund, with the majority of our investments going to startups in the Francophone region. However, we still retain the opportunity to invest in East, Southern, and North Africa startups looking to expand to Francophone Africa.”
Saviu Ventures plans to allocate funds by investing between €500,000 and €3 million in 15 to 20 post-revenue startups, prioritizing sustainable companies. The venture capital firm goes beyond financial investment, providing comprehensive business development support to its portfolio businesses.
The second fund has already strategically invested in promising startups such as Waspito, a health-tech company in Cameroon; Rubyx, a digital lending SaaS provider from Senegal; and Workpay, an HR-payroll solutions provider.
Emphasizing Saviu Ventures’ commitment to sustainable businesses, Samuel Touboul stated, “We are looking for sustainable businesses. We don’t want to target unicorns because we are not interested in businesses or business models that insist on burning cash. Our belief is in supporting talented entrepreneurs building sustainable businesses.”
Saviu Ventures’ first fund, ranging between €250,000 and €500,000, was invested in 12 startups, with 82% originating from the Francophone region. The diverse portfolio includes companies like Anka (Afrikrea), an e-commerce platform; Julaya, an Ivorian neobank; Zanifu, a Kenyan digital lender; Lapaire, an eyewear retailer with operations in Ivory Coast, Mali, Burkina Faso, Benin, and Togo; and Paps, a Senegalese e-logistics startup.
Saviu Ventures stands out with its strategic focus on the Francophone region, making it one of the pioneering venture capital firms specifically targeting this ecosystem. The Francophone region is gaining increased attention from investors due to factors such as lower competition, a vast market opportunity, and high-quality, attractively priced deals compared to more mature Anglophone regions.
According to the 2022 Partech report, the Francophone region accounted for 49% and 38% of the rest of Africa’s deals and funding, respectively, last year. Despite challenges, the region remains a compelling investment destination, with equity funding nearly flat last year following significant year-on-year growth in 2021.
Reflecting on the evolving landscape, Benoit Delestre noted, “The ecosystem in Francophone Africa is now much more developed than it was in 2018 when there were fewer founders and no incubators. It’s still very far from what you see in Kenya or South Africa, but it is much better now.”
Saviu Ventures’ successful initial close of €12 million positions it strongly to continue fostering sustainable businesses, supporting talented entrepreneurs, and contributing to the growth and development of the vibrant startup ecosystem in Francophone Africa. Ongoing discussions with other stakeholders, including institutional investors, aim to propel the fund toward its ultimate target of €30 million to €50 million, further solidifying Saviu Ventures’ pivotal role in the region’s startup landscape.
Saviu Ventures, a well-established venture capital firm focusing on startups in Francophone Africa, has achieved a successful initial closing of €12 million for its second fund. The funding round garnered substantial support from private investors, including notable French and Kenyan family offices. Co-founded by Benoit Delestre and Samuel Touboul, Saviu Ventures is now poised to advance and empower the emerging startup ecosystem in the Francophone region.
Active in the Francophone Africa startup landscape since 2018, the venture capital firm initially deployed a €10 million first fund. With the current fund, Saviu Ventures aims to expand its investments primarily in fintechs, health-techs, and climate-techs, with a slight reduction in focus on e-mobility, e-commerce, and e-logistics.
In an exclusive interview with TechCrunch, Benoit Delestre
stated, “We will follow the same strategy as our first fund, with the majority of our investments going to startups in the Francophone region. However, we still retain the opportunity to invest in East, Southern, and North Africa startups looking to expand to Francophone Africa.”
Saviu Ventures plans to allocate funds by investing between €500,000 and €3 million in 15 to 20 post-revenue startups, prioritizing sustainable companies. The venture capital firm goes beyond financial investment, providing comprehensive business development support to its portfolio businesses.
The second fund has already strategically invested in promising startups such as Waspito, a health-tech company in Cameroon; Rubyx, a digital lending SaaS provider from Senegal; and Workpay, an HR-payroll solutions provider.
Emphasizing Saviu Ventures’ commitment to sustainable businesses, Samuel Touboul stated, “We are looking for sustainable businesses. We don’t want to target unicorns because we are not interested in businesses or business models that insist on burning cash. Our belief is in supporting talented entrepreneurs building sustainable businesses.”
Saviu Ventures’ first fund, ranging between €250,000 and €500,000, was invested in 12 startups, with 82% originating from the Francophone region. The diverse portfolio includes companies like Anka (Afrikrea), an e-commerce platform; Julaya, an Ivorian neobank; Zanifu, a Kenyan digital lender; Lapaire, an eyewear retailer with operations in Ivory Coast, Mali, Burkina Faso, Benin, and Togo; and Paps, a Senegalese e-logistics startup.
Saviu Ventures stands out with its strategic focus on the Francophone region, making it one of the pioneering venture capital firms specifically targeting this ecosystem. The Francophone region is gaining increased attention from investors due to factors such as lower competition, a vast market opportunity, and high-quality, attractively priced deals compared to more mature Anglophone regions.
According to the 2022 Partech report, the Francophone region accounted for 49% and 38% of the rest of Africa’s deals and funding, respectively, last year. Despite challenges, the region remains a compelling investment destination, with equity funding nearly flat last year following significant year-on-year growth in 2021.
Reflecting on the evolving landscape, Benoit Delestre noted, “The ecosystem in Francophone Africa is now much more developed than it was in 2018 when there were fewer founders and no incubators. It’s still very far from what you see in Kenya or South Africa, but it is much better now.”
Saviu Ventures’ successful initial close of €12 million positions it strongly to continue fostering sustainable businesses, supporting talented entrepreneurs, and contributing to the growth and development of the vibrant startup ecosystem in Francophone Africa. Ongoing discussions with other stakeholders, including institutional investors, aim to propel the fund toward its ultimate target of €30 million to €50 million, further solidifying Saviu Ventures’ pivotal role in the region’s startup landscape.
Source: Innovation Village