HAVAÍC announces $20m final close for fund
The HAVAÍC Universum Core African fund has reached a $20 million final close.
Under a joint venture with Universum Wealth and in partnership with leading local and international institutional investors such as Fireball Capital, the fund invests in South African, Kenyan, and Nigerian technology start-ups.
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.
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. New investments into pan-African communications platform Talk360 and leading Nigerian e-commerce player ShopEx are due for completion later this month.
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