Saviu Ventures, a VC firm concentrating on Francophone Africa, achieves a $13 million first closing for its second fund.

Saviu 768x386

Saviu Ventures, a prominent venture capital firm specializing in Francophone Africa, has achieved the initial closing of its second fund, Saviu II. Supported by private investors and family offices, the fund aims to sustain its investments in the most promising startups within the region.

Established in 2018 and led by Benoit Delestre, Samuel Touboul, and Cynthia Mandjek, Saviu Ventures emerged as a pioneering force in the Francophone African venture capital landscape. The firm, which currently boasts a team of seven investors and operators situated across Abidjan, Dakar, and Paris, has invested in 12 startups, primarily hailing from Francophone Africa. Notable portfolio companies include Anka, Julaya, Zanifu, Lapaire, and Paps. With the successful first close of its second fund at EUR12 million (US$13 million), Saviu Ventures is poised for additional investments.

Aligned with the investment strategy of Saviu I, the second fund will target seed to Series A investments in early-stage African startups, with a strong emphasis on Francophone Africa. While Saviu Ventures maintains a sector-agnostic approach, its typical investments gravitate toward technology or tech-enabled companies in sectors such as fintech, e-health, edtech, climate-tech, and e-commerce.

Post the first close, Saviu II has already deployed funds in several ventures, including Cameroon’s Waspito, Senegal’s Rubyx, and Kenya’s Workpay. Concurrently, with this milestone, Saviu II and its management company have secured a license from the Mauritius Financial Markets Authority (FSC), positioning Saviu Ventures as one of the few independent and fully regulated venture capital fund management entities in the Francophone West African region.

Reflecting on this achievement, Delestre remarked, “Reaching the first close of Saviu II and obtaining our license from regulatory authorities is a recognition of all the work that has been done in the past five years, building the track record of Saviu I and the brand name of Saviu Ventures in the Francophone Africa region. We are now ready to support a new generation of talented entrepreneurs within the tech industry, side by side as we’ve always done.”

Source: Disrupt Africa