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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

E4EAfrica Fund II Successfully Closes at US$30 Million, Focused on Scalable Impactful Ventures in Sub-Saharan Africa E4EAfrica, a venture capital fund based in South Africa and driven by entrepreneurs, has successfully completed the initial closing of its E4E Africa Fund II, totaling US$30 million. This fund is dedicated to supporting outstanding entrepreneurial teams that are developing highly scalable and impactful businesses across key sectors in Sub-Saharan African economies, specifically focusing on fintech, education and job tech, e-health, and energy solutions. The fund places a strong emphasis on founder-centric support and delivers value through its extensive network of experienced entrepreneurs. With a targeted size of US$30 million, E4E Africa's second fund has achieved its initial closing. The company has indicated that it is actively drawing interest from additional investors, both local and international, with the goal of expanding its influence and making a broader impact. Launched in July 2020 with support from the SA SME Fund, E4EAfrica has a track record of 11 investments from its initial fund, including startups such as insurtech Pineapple, home-services platform SweepSouth, and digital marketplace Qwili. #digitalnews #digitalnewsafrica #startup

Here's a recap/roundup of what happened in Week 47 2023 (Nov 19-25) across #Africa's tech and startup ecosystem: 𝗦𝗧𝗔𝗥𝗧𝗨𝗣 𝗙𝗨𝗡𝗗𝗥𝗔𝗜𝗦𝗜𝗡𝗚 • Ten fundraises were announced this week with at least $15M (in disclosed funding) raised. 𝗜𝗡𝗩𝗘𝗦𝗧𝗢𝗥 𝗔𝗖𝗧𝗜𝗩𝗜𝗧𝗬 • Saviu Ventures, a VC firm focused primarily on tech startups in Francophone Africa, announced the first €12M close of its second fund which seeks to raise €30-50M in total. • Lagos-based pan-African VC firm Ventures Platform Fund launched an multi-year initiative called “Levelling VC” to raise venture capital funding for woman-led African startups. Previous media reports about plans to launch a new fund for female founders were incorrect. • New VC firm Aduna Capital announced its intent to raise a $20M fund focused on tech startups in Northern Nigeria. 𝗡𝗘𝗪𝗦 𝗢𝗙 𝗧𝗛𝗘 𝗪𝗘𝗘𝗞 • Nawah Scientific, an Egyptian platform offering on-demand scientific, research, and analytical services, made history as Africa’s food analysis lab/research center to receive US FDA accreditation. • Nigerian digital publishing platform OkadaBooks is shutting down after ten years of operations. • Nigerian B2B e-commerce platform Alerzo “laid off at least 100 people eight months after it laid off 400 employees.” • Nigeria's Minister of Communications, Innovation, and Digital Economy, Dr. ‘Bosun Tijani has announced the launch of the Startup Support and Engagement Portal. 𝗢𝗧𝗛𝗘𝗥 𝗧𝗢𝗣𝗜𝗖𝗦 • Is Nigeria a real place? Read the newsletter below to find out what prompted us to ask this question __________________ 🚨 Afridigest is your intelligent guide to Africa's tech ecosystem. Subscribe to the newsletter today as a free reader or paying subscriber to get each edition in your inbox: afridigest.com/subscribe. _________________ #africatech #africa #africanstartups #techinafrica #tech #vc #startups #fundraising #venturecapital #deals #weekinreview #emergingmarkets

🌍 Flat6Labs continues its expansion in the African startup ecosystem by welcoming Christine Namara as Partner for its Africa Seed Fund, bringing her extensive experience in private equity and venture capital to nurture early-stage tech startups across Africa. #startup #venturecapital #Africa 💼 With over a decade of expertise, Namara will play a key role in establishing and managing the Africa Seed Fund's presence in North Africa, West Africa, and East Africa, as Flat6Labs aims to invest in over 160 early-stage technology startups in Africa over the next five years. #techstartups #investment #Africa 🚀 Namara's vast understanding of the African tech landscape, gained through her roles in B2B sales, people management, and product management, positions her perfectly to identify and support innovative startups, making her a valuable asset to the Africa Seed Fund. #innovation #entrepreneurship #techAfrica 👏 The appointment of Namara is a significant step for Flat6Labs' expansion in Africa, as her wealth of knowledge and extensive regional network will aid in supporting and nurturing startups through the Africa Seed Fund, potentially creating over 14,000 jobs and generating revenue of over $700 million. #entrepreneurship #economicimpact #jobcreation

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 info@movin.africa Linktree: https://lnkd.in/gP9m6y2K #MovinAfrica #StartupFinancing #VentureCapital #EmpowerYourVision

African startups raised $4 billion in funding in 2023, which marks a 23% decline from the $5.2 billion secured in 2022, according to a snapshot from Briter's recent investment report for 2023. Africa's deal volume has increased steadily in the past decade, but was impacted by the COVID-19 pandemic in 2021 and 2022. However, funding for African startups in 2023 was significantly higher than pre-pandemic levels. 🔹1030+ deals were recorded in Africa in 2023 (including undisclosed rounds and acquisitions), which is 5% higher than the 975 rounds in 2022. This shows ongoing investor interest in African ventures. 🔸Deals secured by at least one female founder grew by 30% in 2023 compared to 2022. 🔹In 2023, there were 30+ M&A deals in Africa. One deal was BioNTech SE acquiring Tunisia's InstaDeep for $440 million, potentially increasing to over $600 million. Another deal involved the merger of e-commerce companies Wasoko and MaxAB. 🔸68% of the total funding raised across Africa went to the “Big Four” — Kenya ($805M+), Egypt ($675M+), Nigeria ($575M+), and South Africa ($565M+). The single largest deal in USD was MNT-Halan’s $400M funding round. 🔹30% of funding went to fintech companies, but other sectors like cleantech, health & biotech, and mobility also did well. 🔸Cleantech, specifically, saw the continuation of the growth of its share of the continent’s total funding, which started in 2021. 👉 Top investors and accelerators in Africa in 2023: Launch Africa Ventures , Ventures Platform Fund, Algebra Ventures, Catalyst Fund , ARM Labs Lagos Techstars Accelerator , Verod-Kepple Africa Ventures , Norrsken22, Voltron Capital , GrindstoneXL , Baobab Network , Google for Startups , Startupbootcamp , Future Africa , Founders Factory Africa , Mastercard Foundation . 👉 Top funded ventures in Africa in 2023: MNT-Halan, Husk Power Systems , Zipline , M-KOPA kenya , Sun King , SPIRO , TerraPay, Planet42 . 👉 Top investors and accelerators in Africa in 2023 : 500 Global, Flat6Labs, Norrsken org Accelerator, Catalytic Africa , and Visa. #Africa #Fintech #Agritech #Cleantech #ESG #Investment

Catalyst Fund has secured $8.6 million to invest in climate startups in Africa, marking the first close of its $40 million fund. The fund received backing from FSD Africa Investments (FSDAi), Cisco Foundation, USAID Prosper Africa, and tech investor Andrew Bredenkamp. “The fund plans to invest in agtechs, insurtechs, climate fintechs and startups in fishery management, food systems, cold chain, waste management and water management. The pan-African fund is targeting pre-seed startups and has already invested in 10 startups from six countries including Egypt, Senegal and Morocco. It plans to invest in 20 startups this year, and a total of 40 startups in the long-run. Pre-seed startups will get an initial $200,000, follow-on investments of up to $500,000 at the seed stage and $1.5 million in Series A rounds.” Via TechCrunch. https://lnkd.in/dCYbmZrx Maelis Carraro, Karen Serem Waithaka, Maxime Bayen, Rasima Swarup, Malika Anand, Keeya-Lee Ayre, Jayson Rai, Peter Ndichu, Massimiliano Hasan, Akansha Kasera, Javier Linares, Kevin Rejko, Wairimu Gitahi #africa #funding #fundingnews #climatetech #venturecaptial

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

🚀 Breega Raises $75M for Africa’s Startup Ecosystem! Exciting news out of Paris - Breega has successfully raised $75 million for its Africa-focused fund! This significant capital is set to fuel the growth of innovative startups across fintech, healthtech, and e-commerce sectors on the continent. Having actively invested in Africa since 2017, Breega has backed several success stories such as Nigeria's fintech powerhouse TeamApt and Kenya's healthtech trailblazer Medsaf. With this new fund, Breega aims to expand its impact by supporting these companies' growth and identifying new transformational ventures. 🌍✨ Breega's Managing Partner, Francisco Gonzalez-Palenzuela, shared: "We are excited to continue our journey in Africa, where we have seen tremendous growth and potential." It's inspiring to see such investment flows into Africa, a continent with a rapidly growing economy and a burgeoning startup ecosystem. Other notable funds include Knife Capital’s $100M and Ventures Platform’s $50M. 📈💡 A question for my network: What innovative solutions from African startups do you think have the potential to lead globally? Share your thoughts below! 👇 #VC #StartupFunding #Africa #Innovation #Fintech #Healthtech #Ecommerce #StartupEcosystem