Launch Africa Ventures, an early-stage venture capital firm, has been actively investing in promising startups across Africa. As part of its second funding round, the firm has committed a total of $4.3 million to 16 different startups situated throughout the continent. This follows the firm’s first fund, through which it made 133 investments.
The venture capital firm was established in July 2020 by co-founders Zachariah George and Janade du Plessis, with Margaret O’Connor serving as the chairperson. The first fund, known as Launch Africa Ventures Fund 1, was successfully closed in March 2022, having raised $36.3 million. This initial fund attracted investments from 238 retail and institutional investors across 40 countries.
With the initiation of Fund II, Launch Africa Ventures has reiterated its commitment to fostering the growth and scaling of top technology-driven ventures in Africa, aiming to establish them as market leaders within their respective sectors. The firm has positioned itself as one of the most active pan-African investors since 2020, emphasizing its dedication to the burgeoning African venture capital and startup ecosystem. Launch Africa Ventures prides itself on being a high-performing, value-adding, and founder-friendly investor.
The second fund’s investment strategy is guided by a thesis that prioritizes founder diversity, sectoral robustness, market potential, and geographic spread. To date, the firm has allocated $4.3 million across 11 African countries, supporting startups that demonstrate strong market leadership potential.
Among the 16 startups that have received investments from the second fund, three are based in Kenya. These include Periculum, a data management startup; Logistify, an inventory tracking platform; and Octavia Carbon, a company specializing in direct air capture technology.
Three other startups are located in South Africa: Servisor, a car service marketplace; Credit Circuit, a provider of working capital services; and Shiprazor, a logistics platform. Additionally, three startups from Senegal have been funded: Lengo, an FMCG insights platform; Paps, a logistics service; and Solarbox, an energy company.
The remaining investments are spread across various countries and sectors. These include Bosso, a Zambian property technology startup; Zuri, a beauty startup from the Democratic Republic of Congo; Meditect, an e-health company based in Ivory Coast; Kredete, a Nigerian lending marketplace; Viebeg, a Rwandan e-health startup; Wahu!, a Ghanaian electric bike venture formerly known as MANA Mobility; and an unnamed Egyptian e-health startup.
These investments reflect Launch Africa Ventures’ strategic approach to diversifying its portfolio and supporting innovation across the African continent.
