Saviu Ventures announces second close for new fund
Saviu Ventures, a venture capital firm in Francophone Africa, has reached a second close of €25 million for its Saviu II fund.
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Saviu Ventures, a venture capital firm in Francophone Africa, has reached a second close of €25 million for its Saviu II fund. The firm attracted support from the Dutch Good Growth Fund, Proparco, and AXIAN Investment.
Saviu II completed its first close in 2023 at €12 million, supported by a diverse group of private investors including European and African entrepreneurs, HNWIs and family offices. The fund has a final closing target of €30-50 million.
Saviu II is the successor to the €10 million Saviu I fund, which was fully invested in Francophone African startups.
In line with Saviu I, Saviu Ventures' second fund will invest from Seed to Series A in African early-stage startups, with a strong focus on Francophone Africa. Saviu funds are sector agnostic but typically invest in tech or tech-enabled companies in sectors such as fintech, healthtech, edtech, climate-tech and e-commerce. Saviu II's investments will range from €500,000 to €3 million, serving as a lead or reference minority shareholder.
Saviu II has already made a few investments, including:
Julaya (Côte d'Ivoire): A B2B neobank offering virtual accounts, batch mobile money transfers, wire transfers, card management, accounting features and working capital solutions in Côte d'Ivoire, Senegal and Benin.
Rubyx (Senegal): A lending-as-a-service fintech platform enabling financial and non financial lenders (e.g. fintechs, microfinance institutions, e-commerce platforms) to identify creditworthy SMEs, manage loans, and track performance using service design and behavioral analytics. Active in 10+ countries.
Waspito (Cameroon): A digital health platform providing online consultations, at-home laboratory services and a health-focused social network. Active in Cameroon and Côte d'Ivoire.
Workpay (Kenya): A SaaS HR and payroll solution operating in Kenya and Nigeria.
Userguest (Morocco): Revenue and marketing automation software enabling hotels to boost direct revenue from their website and maximise occupancy through personalised messages and incentives for visitors. It operates in 30+ countries.
Resolute (South Africa): A coding and robotics learning platform combining software, physical kits and teacher training, implemented in over 330 K-12 schools to help young students develop the skills they need to succeed in the digital age.
Benoit Delestre, managing partner at Saviu Ventures, said: “We are grateful to welcome our first institutional investors as well as a new strategic investor. Their involvement not only validates our investment approach in Francophone Africa but also strengthens our ability to deliver greater value to our portfolio, by fostering impactful connections with corporate partners and international organisations. This milestone marks an exciting new chapter in our mission to support talented African founders building innovative and sustainable companies across the continent.”
Samuel Touboul, managing partner at Saviu Ventures, commented: “This first support of institutional investors to our funds and strategy demonstrates that Saviu Ventures now counts as one of the few leading venture capital funds in the region, operating and investing with the highest standards. We are committed to capitalise on our strong presence in the Francophone Africa region, an expanded team, and a new institutional framework to further invest the African tech ecosystem and provide returns to our investors.”
Fabrice Perez, head of venture capital at Proparco, noted: “We are absolutely delighted to invest in Saviu Ventures, alongside our trusted partners, DGGF and Axian, to further our commitment to innovative African startups that make a difference to the people, in line with our strategy: Acting together for greater impact.”
Agnès Beri-Jousselin, head of private equity and VC at AXIAN Investment, added: “At AXIAN Investment, we are committed to supporting visionary entrepreneurs who are driving innovation and creating sustainable impact across Africa. Our partnership with Saviu Ventures aligns with our mission to foster the growth of high-potential startups, particularly in Francophone Africa, and contribute to the continent’s dynamic tech ecosystem.”
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