Saviu Ventures, a VC firm targeting startups in Francophone Africa, has made an initial close of €12 million for its second fund with the backing of private investors, including French and Kenyan family offices. The VC firm aims to close the fund at between €30 million and €50 million to primarily invest in startups within Francophone Africa. Founded by Benoit Delestre and Samuel Touboul, Saviu Ventures has been active in the Francophone Africa startup ecosystem since 2018, when it began deploying its first €10 million fund. Saviu’s first fund invested between €250,000 and €500,000 in 12 startups, 82% of them from the Francophone region. “The ecosystem in francophone Africa is now much more developed than it was in 2018, when there were fewer founders and no incubators.

Source: The North Africa Journal November 24, 2023 13:09 UTC