The primary fund of Launch Africa Ventures, which closed at $36.3 million, has made its one hundredth funding

Launch Africa Ventures, an early-stage enterprise capital agency, has made its one hundredth funding, making it essentially the most energetic investor in African tech companies, and has accomplished its first fund at $36.3 million. 

Fund 1 introduced its one hundredth funding on the finish of Could, with US$24 million invested in 108 early-stage digital and ICT-enabled enterprises throughout 20 African nations. 

Launch Africa Ventures was based in July 2020 by Zachariah George and Janade du Plessis, with Margaret O’Connor as chairperson. Its first fund, Launch Africa Ventures Fund 1, closed in March with US$36.3 million in investments from 238 particular person and institutional traders from 40 nations. 

“We assist early-stage digital and tech-enabled firm founders in Africa give attention to what the continent wants proper now: the speedy development of corporations that clear up real-world issues whereas additionally creating high-value jobs in sustainable ventures.” “We’re joyful to have assisted quite a few corporations in closing their seed funding rounds in 4-6 weeks, which is considerably quicker than the 4-6 months that early-stage founders in Africa usually take to shut rounds,” George added. 

“The Launch Africa group collaborates with founders and skilled advisors to expedite exit alternatives for traders,” mentioned du Plessis. “Offering our exit possibility throughout these troublesome instances instills investor confidence and improves the African IT business considerably.” 

Launch Africa additionally allows its Restricted Companions (LPs) to co-invest within the fund’s seed and pre-Sequence A investments by coordinating due diligence, eliminating charges, and incurring expenses. Launch Africa LPs have invested over $14 million in Launch Africa portfolio corporations thus far.

 

Learn extra on Tech Gist Africa:

Binance Labs pronounces the closing of a $500 million funding fund to assist blockchain, Web3, and value-creation applied sciences

Partech’s Africa Fund II to obtain $26 million funding from IFC

ShEquity will get a $1.2 million grant from USAID Commerce Hub

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