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Saviu Ventures , a VC firm targeting startup in Francophone Africa , has made an initial close of € 12 million for its 2d fund with the backing of private investor , including French and Kenyan family offices .
The VC firm take to shut the fund at between € 30 million and € 50 million to chiefly invest in startups within Francophone Africa . It is said to be in talks with other stakeholders including institutional investor to hit the objective .
launch byBenoit DelestreandSamuel Touboul , Saviu Ventures has been active in the Francophone Africa startup ecosystem since 2018 , when it start out deploying its first € 10 million stock .
The VC firm invests in semen - stage startup , and is sphere agnostic , but , with the current fund , it is piercing on fintechs , health techs and climate technical school , while slow down down on vitamin E - mobility , e - commerce and east - logistics .
“ We will follow the same strategy of our first investment trust , where our majority of our investing will go to startups in the Francophone area , but we still keep the chance to invest in East , Southern and North Africa startups that are exquisite on expanding to Francophone Africa , ” Delestre tell TechCrunch .
Saviu contrive to invest between € 500,000 and € 3 million in 15 to 20 post - revenue inauguration with its second fund . Delestre and Touboul said the VC firm targets “ sustainable companies ” and stretch out business concern development living to these commercial enterprise in addition to the fiscal investing . The second investment firm has already backedWaspito , a Cameroonian wellness technical school ; Rubyx , a Senegalese digital lending SaaS supplier ; andWorkpay , an HR - payroll supplier .
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VCs set sights on African countries beyond the ‘ Big Four ’
Saviu ’s first fund invested between € 250,000 and € 500,000 in 12 startups , 82 % of them from the Francophone region . Its portfolio company includeAnka(Afrikrea ) , an einsteinium - commerce political program ; Julaya , an Ivorian neobank;Zanifu , a Kenyan digital loaner ; Lapaire , an centre - wear retailer with operations in Ivory Coast , Mali , Burkina Faso , Benin and Togo ; and Paps , a Senegalese due east - logistics inauguration .
Saviu is among the first VC firms that are specifically eyeing the Francophone region , an ecosystem that go on to pull in VCs because of less competition , a massive marketplace opportunity and high - tone and better - price hand , in comparability to the more mature Anglophone region .
Outside the big four ( Egypt , Kenya , Nigeria and South Africa ) , the Francophone region continues to be the next investment destination for VCs . According to the 2022 Partech report , the area account for 49 % and 38 % of the rest of Africa deals and financial backing , respectively , last yr . Notably , Equity funding into the region stay on nearly flat last year , after growing 2 % to $ 527 million from 2021 when it show a gigantic 695 % year - on - year growth .
“ The ecosystem in francophone Africa is now much more highly-developed than it was in 2018 , when there were fewer beginner and no incubators . It ’s still very far from what you see in Kenya or South Africa but it is much better now , ” articulate Delestre .
