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African venture capital firm Janngo Capital has closed its second fund at €73 million (about $78 million), exceeding its initial target by 20%. The fund attracted key investors such as the African Development Bank Group (AfDB) and European Investment Bank (EIB).
Local and International Support
Development finance institutions like the DFC and IFC play a vital role in supporting Africa’s startup ecosystem by investing in local funds. Janngo Capital’s ability to bring in local capital signals confidence to foreign investors in the region.
Gender Equality in Investment
Janngo Capital prides itself on being a “gender equal” investor, with 56% of its portfolio consisting of startups founded or led by women. The firm remains committed to supporting female entrepreneurs and diverse founders in various sectors.
Focus on Growth and Success
With the additional funds, Janngo Capital plans to invest in 10 to 15 more companies over the next five years, aiming for a portfolio of 25 to 40 companies. The firm’s focus remains on seed to Series B investments, with successful exits like Expensya and Sabi showcasing their investment strategy.
Janngo Capital invests in startups in sectors such as healthcare, logistics, financial services, retail, agritech, and mobility, with offices in Abidjan, Mauritius, Tunis, and Paris.
