The South Africa-based E4E Africa, an entrepreneur-driven venture capital fund, has announced the first close of its US$30 million E4E Africa Fund II. Launched in July 2020 with backing from the SA SME Fund, E4E Africa made 11 investments from its first fund, in startups such as insurtech Pineapple, home-services platform SweepSouth, and digital marketplace Qwili. “Our strong relationships with founders and seasoned African entrepreneurs has led to a surge in outstanding investment opportunities,” said Bas Hochstenbach, managing partner at E4E Africa. “We are thrilled with the performance of our Fund II portfolio so far,” said Bakang Komanyane, principal at E4E Africa. “Our Fund II portfolio companies are thriving, and we are excited to announce a follow-on investment in the coming weeks.”

Source: The North Africa Journal December 15, 2023 06:52 UTC