$4.3 M in 16 startups invested by Launch Africa Ventures from its second fund
After making 133 investments through its first fund, early-stage venture capital firm Launch Africa Ventures has now invested US $4.3 million in 16 startups from across the continent as part of its second fund.
Launch Africa Ventures, founded in July 2020 by Zachariah George and Janade du Plessis, with chairwoman Margaret O’Connor serving on the board, closed its first fund, Launch Africa Ventures Fund 1, in March 2022 at a cost of US $36.3 million. The fund attracted investments from 238 individual and institutional investors across 40 nations.
“Invest, grow, and scale the continent’s top technology-driven ventures to become market leaders in their respective industries” is what Launch Africa Ventures said it will continue to do with Fund II.
“As one of the most active pan-African investors in Africa since 2020, we are maintaining our commitment to the growing African VC and startup ecosystem by continuing to be a top-performing, value-adding and founder-friendly investor,” the company said.
With US $4.3 million spread over 11 African nations to support these market-leading opportunities, the second fund has invested in 16 startups thus far that fit with its investment thesis on founder diversity, sector strength, market opportunities, and geographic reach.
Car service marketplace Servisor, working capital service Credit Circuit, and logistics platform Shiprazor are three of those from South Africa; the other three are from Senegal and include FMCG insights platform Lengo, logistics service Paps, and energy company Solarbox.
Two are from Kenya: the direct air capture company Octavia Carbon and the inventory tracking platform Logistify; two more are from Nigeria: Periculum, a data management startup, and Kredete, a lending marketplace.
The remaining investments go to the following companies: the DRC-based beauty startup Zuri, the Ghanaian e-bike company Wahu!, formerly MANA Mobility, the Ivory Coast-based e-health startup Meditect, the Rwandan e-health startup Viebeg, and the Zambian prop-tech startup Bosso.
