HAVAÍC launches third fund

HAVAÍC, a South Africa-based venture capital firm, has announced the launch of its third African-focused venture fund.

The US$50 million Fund 3 aims to complete up to 20 investments in early-stage, high-growth tech companies born in South Africa, Kenya, and Nigeria over a period of three to four years.

The fundraising for Fund 3 commenced in Q1 2023, and the first close is expected in Q3 2023, followed by the second and final close in 2024.