Pan-African Venture Capitalist, Launch Africa, has closed its $36.3 million fund to increase the number of African startups backed so far.
Launch Africa is solving the significant funding gap in the Seed and pre-Series A investment landscape in Africa.
The fund has over 10-year track record of venture building and backs startups across multiple sectors, regions, and products that tackle the most meaningful challenges on the continent. Launch Africa invests in leading B2B and B2B2C early-stage, technology-driven startups with strong management teams and scalable solutions.
It invests up to $300k per transaction, primarily through S.A.F.E. notes or convertible notes and seeks for companies ready for their Series A round within 18 months of investment.
Included in its portfolio are over 108 startups across 21 African countries. They include Amitruck, Bitmama, Chekkit, Credrails, Fixit45, Kuda, Kwara, MarketForce, Omnibiz, PayHippo, Releaf and several others.
Launch Africa helps LPs with due diligence and waives fees when they invest alongside the fund’s lead checks. These LPs have deployed over $14 million in Launch Africa portfolio companies.
The VC focuses on sectors such as fintech, e-commerce and marketplaces, healthtech, logistics and mobility, data analytics/AI, and edtech.
It affirms to be working hand in hand with each portfolio company in capital preservation and revenue generation for their unique business challenges. Founders are made to understand how to navigate challenging macroeconomics and focus on how to make more money more quickly so that they continue to grow.
The fund was launched by Zachariah George and Janade du Plessis in July 2020 and achieved its first close in September 2020 and a final close by March 2022.
