Early-stage VC firm Launch Africa Ventures has made its 100th investment, making it probably the most active 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 also 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 investors in 40 countries. To date, Launch Africa LPs have co-invested in excess of US$14 million in Launch Africa portfolio companies. “The Launch Africa team works with founders and expert advisors to fast-track exit opportunities for investors,” du Plessis said. “Providing our exit strategy during these challenging times instills investor confidence and brings significant benefits to the African tech ecosystem.”

Source: The North Africa Journal June 14, 2022 11:58 UTC