Launch Africa Ventures closes first fund at $36.3m, makes a hundredth funding
Early-stage VC agency Launch Africa Ventures has made its a hundredth funding, making it in all probability probably the most energetic investor in African tech startups, and closed its first fund at US$36.3 million.
Launched in July 2020 by Zachariah George and Janade du Plessis, with chairperson Margaret O’Connor additionally on the board, Launch Africa Ventures closed its its inaugural fund, Launch Africa Ventures Fund 1, in March at US$36.3 million, with investments from 238 retail and institutional buyers in 40 nations.
Following the profitable closure, Fund 1 introduced its 100th funding on the finish of Could, with US$24 million thus far invested in 108 early-stage tech and tech-enabled corporations throughout 20 African nations.
“We help the African founders of early-stage tech and tech-enabled corporations to give attention to what the continent wants proper now – the fast development of companies fixing real-world issues mixed with the creation of high-value jobs in sustainable ventures. We’re proud to have helped many founders shut their seed funding rounds in 4-6 weeks, notably sooner than the 4-6 months it usually takes for early-stage founders to shut rounds in Africa,” mentioned George.
Launch Africa additionally facilitates co-investment by its Restricted Companions (LPs) by way of sharing due diligence, waiving charges and absorbing prices for LPs within the seed and pre-Collection A investments led by the fund. So far, Launch Africa LPs have co-invested in extra of US$14 million in Launch Africa portfolio corporations.
“The Launch Africa crew works with founders and professional advisors to fast-track exit alternatives for buyers,” du Plessis mentioned. “Offering our exit technique throughout these difficult occasions instills investor confidence and brings vital advantages to the African tech ecosystem.”