The first closure of Saviu II, the second fund of Francophone Africa’s premier venture capital firm Saviu Ventures, has been reached.
The fund, which is supported by private investors and family offices, will allow Saviu to continue investing in the most promising entrepreneurs in the region.
Saviu Ventures, co-founded in 2018 by Benoit Delestre, Samuel Touboul, and Cynthia Mandjek, counts seven investors and operators based in Abidjan, Dakar, and Paris among its ranks. The firm was an early player in the Francophone African VC industry.
Anka, Julaya, Zanifu, Lapaire, and Paps are among the 12 startups it has invested in thus far; the majority of its investors are Francophone Africans. It is now poised to make further investments after closing the first closure of its second fund, which was EUR12 million (US$13 million).
The second fund of Saviu Ventures will follow in the footsteps of the previous one and provide funding to early-stage companies in Africa, particularly in Francophone regions, from seed to Series A.
Waspito of Cameroon, Rubyx of Senegal, and Workpay of Kenya are among the companies that Saviu II has invested in since its initial closing.
Fintech, e-health, edtech, climate-tech, and e-commerce are some of the tech sectors where Saviu funds have made investments. However, the funds are not sector-specific.
“Reaching the first close of Saviu II and obtaining our license from regulatory authorities is a recognition of all the work that has been done in the past five years, building the track record of Saviu I and the brand name of Saviu Ventures in the Francophone Africa region. We are now ready to support a new generation of talented entrepreneurs within the tech industry, side by side as we’ve always done,” said Delestre.
A license has been obtained by Saviu Ventures and its management company from the Mauritius Financial Markets Authority (FSC) at the same time as this first closing.
This makes Saviu Ventures one of the rare fully regulated venture capital fund management companies in the Francophone West African region.