More
    HomeEcosystem NewsLaunch Africa Ventures' $100M Fund II Expands Portfolio with 16 African Startups

    Launch Africa Ventures’ $100M Fund II Expands Portfolio with 16 African Startups

    Published on

    spot_img

    Launch Africa Ventures, a pioneering Pan-African early-stage venture capital firm, has made remarkable progress with its second fund, Launch Africa Ventures Fund II. Launched in 2023 with an ambitious target of $100 million, the fund has already deployed $4.3 million across 16 diverse and promising startups spanning 11 African countries. This achievement underscores Launch Africa’s commitment to nurturing and scaling innovative technology-driven ventures across the continent.

    Building upon the success of its first fund, which closed at $36.3 million in March 2022 and supported 133 startups, Launch Africa continues its mission to bridge the funding gap and catalyze growth in the African tech ecosystem. The firm’s strategic investment approach focuses on identifying startups with diverse founding teams, operating in sectors with strong growth potential, addressing substantial market opportunities, and demonstrating potential for regional or continental expansion.

    Fund II’s portfolio reflects the richness and diversity of the African startup landscape, encompassing a wide range of sectors and geographies:

    • South Africa: Servisor (an online marketplace for car services), Credit Circuit (a provider of working capital solutions for small businesses), and Shiprazor (a tech-enabled logistics platform streamlining cross-border trade)
    • Senegal: Lengo (an AI-powered platform providing real-time market insights for FMCG companies), Paps (a last-mile delivery service leveraging technology for efficient logistics), and Solarbox (a provider of affordable solar energy solutions for homes and businesses)
    • Kenya: Logistify (a cloud-based platform for inventory management and logistics optimization) and Octavia Carbon (a pioneering direct air capture company focused on carbon removal technologies)
    • Nigeria: Periculum (a data analytics startup specializing in risk assessment and fraud detection) and Kredete (a digital lending marketplace connecting borrowers with lenders)
    • Zambia: Bosso (a prop-tech platform simplifying property development and management)
    • Democratic Republic of Congo: Zuri (a beauty-tech startup offering personalized skincare recommendations and products)
    • Ivory Coast: Meditect (a health-tech company providing telemedicine and medication delivery services)
    • Rwanda: Viebeg (a digital health platform facilitating access to healthcare services and information)
    • Ghana: Wahu! (formerly MANA Mobility, an e-mobility company offering electric bike-sharing and rental services)
    • Egypt: (an undisclosed e-health startup currently in stealth mode)

    Launch Africa’s first fund, Launch Africa Ventures Fund I, demonstrated impressive results, achieving a 64% annualized internal rate of return (IRR) and a 2.0x multiple on invested capital (MOIC) as of Q1 2023. This success not only validates the firm’s investment strategy but also highlights the potential for high-growth, impact-driven startups in Africa.

    With the launch of Launch Africa Ventures Seed Fund II, the firm aims to raise between $75 million and $100 million to continue its mission of fueling early-stage ventures across the continent. The new fund will maintain a similar focus on identifying and supporting promising startups with the potential to transform industries and drive economic development.

    Launch Africa Ventures’ dedication to fostering innovation, coupled with its track record of successful investments in African startups, solidifies its position as a leading player in the African venture capital ecosystem. As Fund II progresses, it is poised to unlock further opportunities for growth and create a lasting impact on the continent’s entrepreneurial landscape.

    Charles Rapulu Udoh has carved a niche at the forefront of Africa’s booming tech scene. With years of experience, Udoh has become a go-to expert for multi-million dollar deals in venture capital, private equity, and intellectual property across a vast landscape — from Delaware and New York to Singapore and South Africa. But his expertise extends beyond just the legalese. Udoh is also a corporate governance, data privacy, and tax whiz. An award-winning writer and researcher, he’s passionate about chronicling Africa’s startup story, cementing his position as a true pioneer in the field.

    Latest articles

    $500K Up for Grabs: Moroccan Diaspora’s MFounders Targets High-Potential Startups

    The club will focus on startups requiring initial funding between $50,000 and $500,000, addressing a critical need in the funding landscape for early-stage ventures.

    Nigerian Stocks Go Mobile: NGX Invest Opens Stock Market to Everyone

    The platform’s launch is timely, coinciding with the Central Bank of Nigeria’s (CBN) recapitalization directive, which has spurred numerous offers for subscription and rights announcements by Nigerian banks.

    South African Safetech Startup AURA Raises $1.1M Bridge Round to Democratize Safety

    The technology platform enables users to access the nearest vetted private security and medical response units through connected devices.

    Fuzé Investment Series: Togolese Media Startup Makifaa Secures Funding

    Founded in in 2023 by Doris DJAGLO and Jean Pignan, Makifaa’s unique approach blends the creative talents of local photographers with cutting-edge artificial intelligence (AI) to deliver personalized media solutions within an impressive 48-hour timeframe.

    More like this

    $500K Up for Grabs: Moroccan Diaspora’s MFounders Targets High-Potential Startups

    The club will focus on startups requiring initial funding between $50,000 and $500,000, addressing a critical need in the funding landscape for early-stage ventures.

    Nigerian Stocks Go Mobile: NGX Invest Opens Stock Market to Everyone

    The platform’s launch is timely, coinciding with the Central Bank of Nigeria’s (CBN) recapitalization directive, which has spurred numerous offers for subscription and rights announcements by Nigerian banks.

    South African Safetech Startup AURA Raises $1.1M Bridge Round to Democratize Safety

    The technology platform enables users to access the nearest vetted private security and medical response units through connected devices.