Saviu Partners lands AfDB investment
The African Development Bank has approved an investment of €6.5 million in the Saviu II fund.
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The African Development Bank has approved an investment of €6.5 million in the Saviu II fund.
Saviu II backs technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The bank group will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology-oriented B2B start-ups.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali. It can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
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