Pan-African VC Janngo Capital Achieves $78M Close on Second Fund

Janngo Capital closed on $78M in total capital commitments on the final close of its second fund that will invest in African tech startups and small- and medium-sized enterprises.

Commitments for Fund II exceeded its target by 20%, and investors in the oversubscribed raise included the European Investment Bank and African Development Bank, both anchor investors from the predecessor fund. New investors were led by Mastercard Foundation Africa Growth Fund and the US International Development Finance Corporation, as well as World Bank-affiliated International Finance Corporation and Tunisian fund of funds ANAVA Smart Capital.

The fund will seek to deploy seed or growth capital of up to €5M (~$5.4M) to tech startups across the healthcare, education, or financial services sectors in Africa, with focus on job creation for women and youth. To date, Janngo said its two funds hold more than 30 active investments in 21 portfolio companies from 14 countries.

Source: https://www.janngo.com/janngo-capital-has-reached-the-final-close-of-its-oversubscribed-78-million-fund-marking-africas-largest-gender-equal-tech-vc-fund/