The venture capital firm Launch Africa Ventures, known for its focus on early-stage investments, has introduced its Mezzanine Impact Fund. This new fund is dedicated to providing mezzanine growth capital to premier technology companies in Africa that uphold robust Environmental, Social, and Governance (ESG) standards.
Founded by Zachariah George and Janade du Plessis in July 2020, with Margaret O’Connor serving as the chairperson, Launch Africa Ventures successfully closed its first fund, Launch Africa Ventures Fund 1, in March 2022. The fund amassed US$36.3 million, backed by contributions from 238 retail and institutional investors across 40 countries, and it facilitated 133 investments.
As reported by Innovation Village in June, the firm had already invested US$4.3 million in 16 startups across the continent through its second fund, Fund II. This fund continues Launch Africa Ventures’ commitment to nurturing and scaling top technology-driven ventures in Africa, aiming to position them as industry leaders.
The newly announced Launch Africa Mezzanine Impact Fund is set to channel growth capital into African and GCC (Gulf Cooperation Council) technology companies. The fund’s goal is to catalyze mergers and acquisitions, market expansion, management buyouts, and other growth strategies, ultimately unlocking potential for the continent’s most influential businesses.
Investments from the Mezzanine Impact Fund will target leading tech companies that not only exhibit strong ESG principles across various sectors but also promise substantial returns. The fund’s mission is to empower a new generation of innovators to retain commercial ownership of their businesses, thereby ensuring that equity remains with the founders.
This approach is expected to drive job creation and foster the development of products that enhance the quality of life for Africans. Launch Africa Ventures aims to provide a financial solution that is specifically tailored to the needs of the African entrepreneurial ecosystem, thereby enabling growth and opening market opportunities for technology companies on the continent.
To oversee the Mezzanine Impact Fund, Launch Africa Ventures has brought on board Anthony Moore as the executive chairman. Moore, who previously held the position of managing director and head of investment banking at Goldman Sachs International in the UK and Asia, will lead a newly assembled debt solutions team.
Their objective is to finance a portfolio of impactful, high-growth technology companies throughout Africa, with a special emphasis on fostering connections between Africa and the GCC region.
