In a significant stride toward fostering innovation and entrepreneurship in Francophone Africa, Saviu Ventures, a distinguished venture capital firm, has achieved an initial close of €12 million for its second fund. This funding milestone underscores the firm’s commitment to nurturing and advancing the startup ecosystem in the Francophone region, marking a pivotal moment in its journey to support emerging enterprises.
Spearheaded by co-founders Benoit Delestre and Samuel Touboul, Saviu Ventures has carved a niche for itself as a key player in the venture capital landscape dedicated to Francophone Africa. The success of this funding round is attributed to robust support from private investors, including prominent French and Kenyan family offices, reflecting the growing recognition of the region’s entrepreneurial potential.
With its roots in the Francophone Africa startup landscape dating back to 2018, Saviu Ventures initially deployed a €10 million fund. The current funding initiative, reaching an impressive €12 million, positions the firm to expand its investment focus primarily in fintechs, health-techs, and climate-techs. Notably, there will be a nuanced adjustment in focus, with a slight reduction in emphasis on e-mobility, e-commerce, and e-logistics.
In a recent interview with TechCrunch, Benoit Delestre outlined the strategic direction for the second fund, stating, “We will follow the same strategy of our first fund, where the majority of our investment will go to startups in the Francophone region. But we still keep the opportunity to invest in East, Southern, and North Africa startups that are keen on expanding to Francophone Africa.”
The decision to maintain a regional focus while retaining flexibility for cross-regional investments highlights Saviu Ventures’ nuanced approach to supporting startups with the potential for broader impact. By nurturing ventures in sectors crucial to the region’s development, including fintech, health-tech, and climate-tech, Saviu Ventures aims to contribute to economic growth and sustainability.
As the venture capital firm moves forward with its second fund, the infusion of €12 million positions Saviu Ventures as a catalyst for innovation and a pivotal player in shaping the trajectory of Francophone Africa’s startup landscape. The coming months promise exciting developments as the firm identifies and supports high-potential startups, fostering a dynamic ecosystem that aligns with the evolving needs and opportunities of the region.