Tech venture fund Janngo Capital made the first close at €34 million (about $36 million) in capital commitments for its new €60 million fund.
The main investors are the European Investment Bank (EIB), the African Development Bank (AfDB) and Boost Africa. Added to this are Proparco, Burda Principal Investments and Muller Medien.
The funds raised will allow the start-up to finance companies founded, co-founded or benefiting women, according to a press release published on Tuesday, September 13.
“We are proud to lead Africa’s largest equal tech venture capital fund and see the world’s leading investors unite around our vision to support entrepreneurs creating digital champions across Africa. We have built a solid experience in the region thanks to our first fund with investments in 11 tech and tech-enabled startups including soonicorn Sabi, Expensya or Jexport,” said Fatoumata Bâ, founder and CEO of Janngo Capital.
Janngo Capital operates under a full alternative investment fund management license with main offices in Abidjan and Paris. The companies in its current portfolio are 56% led by women, 54% Francophone.