Janngo Capital fund reaches final close at $78m
Pan-African venture capital firm Janngo Capital has announced the final closing of its second fund at $78 million.
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Pan-African venture capital firm Janngo Capital has announced the final closing of its second fund at $78 million, 20% beyond its initial target.
Janngo Capital Startup Fund’s anchor investors – such as the European Investment Bank and African Development Bank – doubled down by reinvesting in this final closing.
New investors include the Mastercard Foundation Africa Growth Fund; the U.S. International Development Finance Corporation; the International Finance Corporation; and ANAVA (Smart Capital), a Tunisian fund of funds.
“We are proud to announce the final closing of our second investment vehicle at $78 million, 20% above our initial target pledged in Davos. We are particularly honoured to have attracted a great mix of top-tier investors, African and global, institutional and private, impact and commercially driven to support our ambitious vision. Beyond our team, it is a strong signal of confidence in the African tech ecosystem and its solid growth prospects. We are committed to keep supporting category-defining startups leveraging technology to help leapfrog development in Africa, in a more equal way,” commented Fatoumata Bâ, founder and executive chair of Janngo Capital.
The Janngo Capital Startup Fund invests up to €5 million, from seed to growth, in technology startups.
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