Saviu Ventures, a venture capital firm specializing in Francophone Africa, has raised €25 million (USD 26 million) in the second close of its Saviu II fund, with backing from institutional investors including the Dutch Good Growth Fund (DGGF), Proparco, and AXIAN Investment. The firm aims to support early-stage startups across the region, continuing its strategy of investing from Seed to Series A rounds.
The latest fundraising milestone brings Saviu II closer to its final target of €30–50 million. The second fund builds on the foundation of Saviu I, a €10 million fund launched in 2018, which was fully allocated to high-potential startups in Francophone Africa. The first close of Saviu II took place in 2023 at €12 million, attracting a mix of private investors, European and African entrepreneurs, high-net-worth individuals, and family offices.
The venture firm also secured licensing from the Mauritius Financial Services Commission (FSC), establishing itself as one of the few independent, fully regulated venture capital fund managers in Francophone West Africa.
Saviu Ventures targets tech and tech-enabled businesses across sectors such as fintech, healthtech, edtech, climate tech, and e-commerce. Saviu II will deploy investments ranging from €500,000 to €3 million, often acting as a lead or reference minority shareholder while adopting a hands-on approach to supporting portfolio companies in business development, recruitment, expansion, and fundraising.
Portfolio Companies
Saviu II has already backed several startups, including:
- Julaya (Ivory Coast) — A B2B neobank offering virtual accounts, batch mobile money transfers, and working capital solutions.
- Rubyx (Senegal) — A lending-as-a-service fintech platform enabling credit assessments for SMEs.
- Waspito (Cameroon) — A digital health platform providing online consultations and at-home lab services.
- Workpay (Kenya) — A SaaS HR and payroll platform operating in Kenya and Nigeria.
- Userguest (Morocco) — A marketing automation software for hotels to optimize direct bookings.
- Resolute (South Africa) — A robotics and coding education platform for K-12 schools.
The first fund, Saviu I, has been instrumental in shaping the venture ecosystem in Francophone Africa, with investments in startups such as:
- Anka (Ivory Coast) — A SaaS e-commerce platform facilitating payments and logistics for African vendors.
- Lapaire (Ivory Coast) — An affordable eyewear retailer operating in six African countries.
- Zanifu (Kenya) — An inventory financing platform that has disbursed over $45 million in credit to SMEs.
- Paps (Senegal) — A logistics startup providing delivery and freight services across West Africa.
The participation of major institutional investors such as DGGF and Proparco, alongside corporate players like AXIAN Investment, is expected to enhance Saviu Ventures’ ability to scale its impact. The firm aims to generate both financial returns and socioeconomic benefits, including job creation, financial inclusion, and gender equity.
Benoit Delestre, Managing Partner at Saviu Ventures, emphasized the importance of this funding milestone: “Welcoming our first institutional investors validates our investment approach and strengthens our ability to foster meaningful partnerships between portfolio companies and corporate stakeholders.”
Similarly, Samuel Touboul, Managing Partner at Saviu Ventures, highlighted the firm’s long-term vision: “With a strong presence in Francophone Africa, an expanded team, and institutional backing, we are committed to advancing the African tech ecosystem and delivering returns to our investors.”
Representatives from the fund’s institutional backers also expressed their support. Orsolya Farkas, Head of Funds and Equity at Triple Jump, the consortium partner managing DGGF, stated, “We are pleased to partner with Saviu Ventures to support African entrepreneurs and create jobs, aligning with DGGF’s core objectives.”
Fabrice Perez, Head of Venture Capital at Proparco, underscored Proparco’s commitment to the African startup ecosystem: “Investing in Saviu Ventures is aligned with our mission of supporting innovation and impactful businesses across the continent.”
Agnès Beri-Jousselin, Head of Private Equity & VC at AXIAN Investment, added, “Our partnership with Saviu Ventures reflects our dedication to fostering high-growth startups in Francophone Africa and contributing to Africa’s evolving tech landscape.”
With the second close of Saviu II at €25 million, the firm is poised to deepen its impact in the African startup ecosystem, supporting a new wave of entrepreneurs and scaling promising ventures across the continent.