Launch Africa invests $4.3m in 16 startups from second fund

STARTUP VENTURE CAPITALJune 25, 2024 at 11:33 AM UTC

TLDR

Early-stage VC firm Launch Africa Ventures invests $4.3 million in 16 startups across the continent with its second fund.
Launch Africa Ventures closed its first fund at $36.3 million, attracting investments from 238 investors across 40 countries.
Fund II aims to nurture top technology-driven ventures in Africa for market leadership.

Early-stage VC firm Launch Africa Ventures has invested a total of $4.3 million in 16 startups across the continent as part of its second fund. This follows 133 investments made via its first fund.

Launched in July 2020 by Zachariah George and Janade du Plessis, with chairperson Margaret O’Connor also on the board, Launch Africa closed its inaugural fund, Launch Africa Ventures Fund 1, in March 2022 at $36.3 million. The fund attracted investments from 238 retail and institutional investors across 40 countries.

With Fund II, Launch Africa aims to continue investing in, growing, and scaling the continent’s top technology-driven ventures, helping them become market leaders in their respective industries.

Key Takeaways

Startups invested in include three from South Africa, namely car service marketplace Servisor, working capital service Credit Circuit, and logistics platform Shiprazor, and another three from Senegal – FMCG insights platform Lengo, logistics service Paps, and energy company Solarbox. Two are from Kenya – inventory tracking platform Logistify, and direct air capture company Octavia Carbon – and another two from Nigeria, in the shape of data management startup Periculum and lending marketplace Kredete. The rest of the investments are Zambian prop-tech startup Bosso, DRC-based beauty startup Zuri, Ivory Coast-based e-health company Meditect, Rwandan e-health startup Viebeg, Ghanaian e-bike venture Wahu!, formerly MANA Mobility, and an Egyptian e-health startup.