Early-stage VC firm Launch Africa Ventures has invested a total of US$4.3 million in 16 startups from across the continent so far as part of its second fund, having made 133 investments via its first fund. 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 2022 at US$36.3 million, with investments from 238 retail and institutional investors in 40 countries. With Fund II, Launch Africa Ventures said it continues to “invest, grow and scale the continent’s top technology-driven ventures to become market leaders in their respective industries”. So far, the second fund has invested in 16 startups that align with its investment thesis on founder diversity, sector strength, market opportunities, and geographic reach, deploying US$4.3 million across 11 African countries to support these market-leading opportunities. The rest of the investments are Zambian prop-tech startup Bosso, DRC-based beauty startup Zuri, Ivory Coast-based e-health company Meditect, Rwandan e-health startup Viebeg, Ghanaian e-bike venture Wahu!, formerly MANA Mobility, and an Egyptian e-health startup.

Source: The North Africa Journal June 25, 2024 12:06 UTC