Empowering Entrepreneurs: HAVAÍC's $50M Innovation Fund to Drive Economic Growth in Africa

Venture capital firm HAVAÍC has announced the first close of its third African Innovation Fund, securing $15 million in commitments towards its $50 million target. The initial investment has been backed by cornerstone investors Universum Wealth and The SA SME Fund, along with a network of local and international family offices.

The fund is set to invest in 15 high-growth African startups at the seed, Series A, and Series B stages, with a focus on companies that exhibit strong regional and global potential. HAVAÍC plans to expand its portfolio, which currently serves over 20 million customers worldwide, reinforcing its status as a leading investor in the African tech ecosystem.

HAVAÍC’s previous funds have demonstrated notable success, including a 400% increase in annual revenue and a significant fifth exit in 2023. Ian Lessem, Managing Partner at HAVAÍC, highlighted the fund's potential to drive economic growth and job creation in Africa.

“Our partnership with institutional investors empowers us to support more African entrepreneurs in scaling their businesses and creating positive change,” Lessem stated.

Source: Empower Africa