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Africa’s Largest Gender Equal Tech VC Fund Reaches The First Close Of Its €60 Million New Fund

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  • Janngo Capital Startup Fund is backed by first-class investors with an equal number of development finance institutions & leading commercial private investors, including:

Janngo Capital Startup Fund (JCSF) has announced its first close at EUR34 million (approximately US$36 million) in capital commitments. Launched in Davos in 2020, Janngo Capital’s latest fund will invest 50% of its proceeds in companies founded, co-founded, or benefiting women.

Backed by global financial institutions as well as leading private corporations, the fund management company plans to invest EUR60 million (approximately US$63 million) in startups leveraging technology to leapfrog development and achieve SDGs in Africa.

100% tech, 100% Africa, 100% equal

Janngo Capital Startup Fund, second investment vehicle of the management company, will provide up to EUR5 million seed and growth investments to early-stage tech and tech-enabled startups that (1) enable Africans to improve their access to essential goods and services such as healthcare, education or financial services, (2) enable African SMEs to improve their access to market & capital, or (3) create sustainable jobs at scale, with a focus on women & youth.

Women in Africa are the most entrepreneurial in the entire world with a total entrepreneurship activity rate of 26%. Yet, they face a $42 billion funding gap and have very limited access to growth capital. As one of the very few female-founded, female-owned, and female-led fund management companies in Africa, Janngo Capital has made a strong commitment to gender equality as it will invest 50% of its proceeds in companies founded, co-founded, or benefiting women.

“We are proud to lead Africa’s largest gender equal tech VC fund and see major global investors rally around our vision to back entrepreneurs building digital champions across Africa. We have built a strong track record in the region through our first fund with investments in 11 tech & tech-enabled startups, including the soonicorn Sabi, Expensya or Jexport,”

  Fatoumata Bâ, Founder & Executive Chair of Janngo Capital.

Source
Fintech & Finance News

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

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