Launch Africa Ventures made 100th investment, closed first fund at $36.3 M

Launch Africa Ventures, an early-stage venture capital firm, has made its 100th investment, making it the most active investor in African digital businesses, and has completed its first fund at $36.3 million.

Launch Africa Ventures was founded in July 2020 by Zachariah George and Janade du Plessis, with Margaret O’Connor as chairman. Its first fund, Launch Africa Ventures Fund 1, closed in March with US $36.3 million in investments from 238 individual and institutional investors from 40 countries.

Fund 1 announced its 100th investment at the end of May, with US $24 million invested in 108 early-stage digital and ICT-enabled enterprises across 20 African nations.

“We assist the African founders of early-stage tech and tech-enabled companies to focus on what the continent needs right now – the rapid growth of businesses solving real-world problems combined with the creation of high-value jobs in sustainable ventures. We are proud to have helped many founders close their seed funding rounds in 4-6 weeks, notably faster than the 4-6 months it typically takes for early-stage founders to close rounds in Africa,” said George.

Launch Africa also encourages its Limited Partners (LPs) to co-invest in the fund’s seed and pre-Series A investments by sharing due diligence, eliminating fees, and absorbing expenses. Launch Africa LPs have invested over $14 million in Launch Africa portfolio companies to date.

“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 instils investor confidence and brings significant benefits to the African tech ecosystem.”