Janngo Capital, an African venture capital firm, has successfully completed its second fundraising round, closing at €73 million (approximately $78 million), which is significantly above its initial target of €60 million (around $63 million). This successful close follows the fund’s first round, which was secured at €26 million in 2022, with notable participation from key limited partners, including the African Development Bank Group (AfDB) and the European Investment Bank (EIB).
| Table of Contents | |
|---|---|
| Fundraising Success | |
| Gender Equality Focus | |
| Investment Portfolio and Strategy | |
| Future Plans | |
| Geographic Presence | |
| Conclusion | |
Fundraising Success
The recent closure of €73 million illustrates a remarkable interest from investors, surpassing its initial goal of €60 million. This demonstrates the confidence that anchor investors and institutional players have in Janngo Capital. The second close of the fund saw the African Development Bank Group and the European Investment Bank continuing their support, alongside newer institutional investors that include the Mastercard Foundation Africa Growth Fund, the Tunisian fund of funds ANAVA, the endowment fund of Ashesi University in Ghana, the U.S. International Development Finance Corporation (DFC), and the World Bank’s International Finance Corporation (IFC).
Gender Equality Focus
A hallmark of Janngo Capital’s mission is its commitment to promoting gender equality and supporting female entrepreneurs. An impressive 56% of the startups in its portfolio are either founded or led by women, reflecting the firm’s dedication to advancing diverse founders. By investing in sectors beyond just fintech, Janngo Capital emphasizes the increasing importance of directing capital towards female entrepreneurs across the African continent.
Investment Portfolio and Strategy
Since its launch in 2018, Janngo Capital has made considerable strides, executing over 30 investments in 21 startups spanning various sectors. The firm typically invests between €150,000 and €5 million in startups that operate in multiple domains, including healthcare, logistics, financial services, retail, agritech, mobility, and the creator economy. This diverse investment strategy signifies its aim to nurture a variety of sectors while ensuring a focus on impactful startups.
Future Plans
Looking ahead, Janngo Capital aims to invest in an additional 10 to 15 companies over the next five years, working towards a target portfolio comprising between 25 to 40 companies. Maintaining a focus on seed to Series B stage investments, the firm generally seeks to acquire 15% to 30% ownership stakes in the startups it supports, aligning its growth strategy with its commitment to collaboration and shared success.
Geographic Presence
With offices strategically located in Abidjan, Mauritius, Tunis, and Paris, Janngo Capital showcases its unwavering commitment to fostering entrepreneurship and innovation throughout Africa. This diverse geographic footprint enhances the firm’s capability to identify and capitalize on investment opportunities across various regions, increasing its support for local and international startups alike.
Conclusion
In summary, Janngo Capital’s successful closure of its second fund with a focus on gender equality, a robust investment strategy, and future expansion plans not only reflect its commitment to empowering female entrepreneurs but also solidify its position as a pivotal player in Africa’s startup ecosystem. The firm’s initiatives signal a vital shift towards inclusivity and diverse representation in venture capital investments.
FAQ
- What is Janngo Capital? Janngo Capital is an African venture capital firm dedicated to investing in startups, especially those led or founded by women.
- How much has Janngo Capital raised in its second fund? The firm raised €73 million (approximately $78 million) in its second fund, surpassing its initial target.
- What sectors does Janngo Capital invest in? The firm invests in various sectors including healthcare, logistics, financial services, retail, agritech, mobility, and the creator economy.
- What is the investment range of Janngo Capital? Janngo Capital typically invests between €150,000 and €5 million in startups.
