• About
  • Advertise
  • Careers
  • Contact Us
Thursday, June 26, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Business StartUPs

HAVAÍC Completes Final Close of the HAVAÍC Universum Core African Fund

by Joan Aimuengheuwa
May 4, 2022
in StartUPs
0
UBA
Advertisements

Cape Town-headquartered venture capital firm, HAVAÍC, has announced the third and final close of its second pan-African investment fund. 

The Fund invests in African startups leveraging technology to solve real-world local, regional, and international challenges, making an impact in the markets they serve. The Fund invests in and supports early-stage, post-revenue seed investments up to later-stage growth Series A investments. 

“The Fund’s institutional investors bring new international relationships and capital. Coupled with our experience in investing in Africa, this makes for a winning combination of local expertise, networks, and follow-on funding internationally. These are all necessary ingredients when scaling businesses,” said Ian Lessem, Managing Partner at HAVAÍC. 

Since launching in 2020 under a joint venture with Universum Wealth, the Fund has invested in several South African, Kenyan, and Nigerian technology start-ups. Following its second close in 2021 and the inclusion of leading institutional partners such as South African-based Fireball Capital, the third and final close allows HAVAÍC to execute on its exciting pipeline of investment opportunities and leverage off its partnerships with existing and new investors in both Africa and across the globe.  

“The escalating interest from local and international investors supports the growing prominence of African venture capital as an asset class. This is off the back of an influx of increased investment in recent years spurred on by growing awareness for these enticing African investment opportunities for local and international investors. And with the investment demand for African tech-enabled companies showing no signs of slowing down, this is just the tip of the iceberg,” added Lessem.

The Fund is on track to complete up to 25 investments over the next three years. A third of the funds have already been deployed into early-stage African technology companies in the FinTech, HealthTech, and SafeTech industries, including Aura, Kuda, Crowdforce, Mobiz, Comparisure, Tanda, RecoMed, and HearX. 

“We are drawn to HAVAÍC’s track record of supporting businesses that use technology-enabled solutions to solve real-world problems,” said Justin James, Investment Partner at Fireball Capital. “The impact of our smart capital allocation will result in sustainable job creation in South Africa and on the rest of the continent. And we look forward to working with our partners to successfully internationalise these businesses onto the global stage,” he added. 

The news follows the release of HAVAÍC’s 2021 results. The VC firm’s portfolio companies now serve a combined 5 million customers in over 180 countries across the globe. Last year, HAVAÍC‘s portfolio companies raised US$110 million in fresh capital and increased revenue by 160%. To date, HAVAÍC has achieved three international exits, delivering annualised returns to its investors of 155%. 

“Investing in private markets has become an increasingly important consideration for private clients, and the continued success of our joint venture with HAVAÍC has ensured that we deliver the investment needs of our clients in this fast-growing asset class,” said Jonathan Sieff, Co-Managing Partner at Universum Wealth.

HAVAÍC announced the latest addition to its diverse 15-strong portfolio of companies in February 2022, Crowdforce, which empowers Nigeria’s underserved and unbanked population. In the coming weeks, the VC firm is set to finalise investments into leading pan-African communications platform Talk360 and Nigerian e-commerce player ShopEx. 

Loading

Advertisements
MTN ADS

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: HAVAÍCHAVAÍC Universum Core African FundIan LessemJonathan SieffJustin James
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post

BREAKING - Konga Food Goes Live Monday

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

6G City-scale Digital Twin Introduced

6G City-scale Digital Twin Introduced

1 year ago
Nigeria’s NIBSS Bids for Kenya’s $200M Digital Payment System

Nigeria’s NIBSS Bids for Kenya’s $200M Digital Payment System

3 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.