Saviu Ventures, a venture capital firm targeting startups in Francophone Africa, has secured an initial close of €12 million for its second fund. The fund aims to reach a final close between €30 million and €50 million. Saviu Ventures plans to invest primarily in startups within the Francophone Africa region. The VC firm, which has been active in the region since 2018, is sector-agnostic but is particularly interested in fintechs, health-techs, and climate-techs for its current fund. Saviu Ventures provides business development support to portfolio companies in addition to financial investment.
Key Points:
- Saviu Ventures has secured an initial close of €12 million for its second fund targeting startups in Francophone Africa.
- The VC firm is in talks with other stakeholders, including institutional investors, to achieve a final close between €30 million and €50 million.
- Saviu Ventures, founded by Benoit Delestre and Samuel Touboul, is active in the Francophone Africa startup ecosystem since 2018.
- The second fund focuses on sectors such as fintech, health-tech, and climate-tech, while slowing down on e-mobility, e-commerce, and e-logistics.
- Saviu Ventures plans to invest between €500,000 and €3 million in 15 to 20 post-revenue startups with a sustainable business focus.
- The VC firm has already backed startups such as Waspito, Rubyx, and Workpay with its second fund.
- Saviu’s first fund invested between €250,000 and €500,000 in 12 startups, with 82% of them from the Francophone region.
- Francophone Africa is gaining attention from VCs due to less competition, a massive market opportunity, and high-quality deals.
Analysis: Saviu Ventures’ successful initial close for its second fund underscores the growing interest in the startup ecosystem in Francophone Africa. The region, comprising countries where French is widely spoken, is attracting attention from VCs for its significant market potential and relatively lower competition compared to more mature ecosystems. Saviu Ventures’ focus on sustainable businesses and its commitment to business development support for portfolio companies align with the evolving priorities of investors in African startups. The fund’s emphasis on sectors like fintech, health-tech, and climate-tech reflects a strategic approach to capitalize on emerging trends in the region. Overall, the increased fundraising efforts for venture capital funds targeting African startups indicate a positive trajectory for the continent’s entrepreneurial ecosystem.
