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Today: May 23, 2024
December 14, 2023
1 min read

Saviu Ventures Bags $13M Funding Boost for Francophone Africa Projects

Saviu Ventures, an investment firm co-founded in 2018 by Benoit Delestre, Samuel Touboul, and Cynthia Mandjek, has successfully accomplished the initial closing of its second fund, Saviu II, with a total of $13 million raised. Offering key details:

  • The fund’s primary focus is on Francophone Africa, aiming to encourage the region’s up-and-coming entrepreneurs.
  • Notably, the firm plans to maintain investment across various sectors, such as fintech, e-health, edtech, climate-tech, and e-commerce, thus showing a commitment to fostering innovation without confining it to specific sectors.
  • The Mauritius Financial Markets Authority (FSC) has awarded a license to Saviu Ventures and its management company, making it one of the few fully regulated venture capital fund management companies in the Francophone West African region.

Having its team distributed in Abidjan, Dakar, and Paris, Saviu Ventures is positioned as an early benefactor to the Francophone African Venture Capital industry. Previous notable investments from Saviu II include Waspito (Cameroon), Rubyx (Senegal), and Workpay (Kenya). It’s also worth mentioning that the firm has invested in startups like Anka, Julaya, Zanifu, Lapaire, and Paps, totaling 12 in its portfolio.

The approach is designed based on the model of its previous fund to help early-stage companies in Africa with a distinct emphasis on the Francophone regions, extending funding from seed to Series A. As per Benoit Delestre’s statement, this significant accomplishment is the answer to five years of persistent hard work and signifies a milestone in the company’s journey.

The readiness of Saviu Ventures to continue its cooperative journey with developing tech talent, along with a track record established through its first fund and its reliable brand status in the Francophone Africa region, ensures in delivering extended support to a new wave of skilled entrepreneurs in the tech industry.

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