AfDB Backs Saviu With €6.5M to Boost Francophone Startup Funding
TLDR
- AfDB approves €6.5 million investment in Saviu II venture capital fund targeting tech startups in Francophone Africa
- Saviu II to invest between €500,000 and €3 million in B2B tech startups, focusing on French-speaking countries in West and Central Africa
- Development finance institutions use blended finance tools like first-loss capital to de-risk investments and support B2B startups in Africa
The African Development Bank has approved a €6.5 million investment in Saviu II, a venture capital fund targeting early-stage technology startups in Francophone West and Central Africa.
The commitment, equivalent to 4.26 billion CFA francs, was approved on Feb. 27 in Abidjan. It includes €4.5 million in equity and €2 million in a first-loss tranche mobilized on behalf of the European Commission under the Boost Africa program, a joint initiative of the European Investment Bank and the AfDB.
The first-loss mechanism is designed to absorb part of the initial risk, improve the fund’s risk-return profile and attract private investors at a time when African venture capital activity has slowed from post-pandemic highs.
Saviu II, managed by Saviu Partners, plans to invest between €500,000 and €3 million in about 20 B2B technology startups. At least 60% of investments will target French-speaking countries in West and Central Africa, including Côte d’Ivoire, Benin, Senegal, Togo, Burkina Faso, Mali and Cameroon.
The fund may also co-invest in East Africa if companies plan expansion into Francophone markets.
In addition to its core vehicle, Saviu II includes a pre-seed segment that will invest minority stakes alongside studios, incubators and local partners. The strategy aims to bridge the gap between incubation and first institutional funding rounds.
Saviu Partners previously raised a €10 million fund in 2018, investing in 12 regional startups.
Points clés à retenir
Venture capital in Africa has been unevenly distributed, with Nigeria, Kenya and South Africa capturing the majority of funding. Francophone markets have lagged despite rising digital adoption and expanding startup ecosystems. Development finance institutions are using blended finance tools, such as first-loss capital, to de-risk investments and crowd in private capital. By absorbing part of potential losses, public institutions help unlock funding for markets perceived as higher risk. B2B startups are attracting attention as companies digitize payments, logistics, agriculture and enterprise services. These models often generate recurring revenues and scale across borders. If Saviu II deploys capital as planned, it could help structure early-stage ecosystems in French-speaking Africa, provide growth funding and support regional expansion. The move reflects a broader effort to diversify Africa’s venture capital geography beyond its largest Anglophone hubs.
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