Launch Africa Ventures closes first fund at $36.3m, makes 100th investment

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Published: 2022-06-14
Launch Africa Ventures brings its maiden fund to a successful closure with $36.3 million and makes its 100th investment.

Launch Africa Ventures, an early-stage venture capital firm, just completed its 100th investment, making it likely the most active investor in African technology businesses. The firm also successfully closed its first fund at a total of US$36.3 million.

Launched in July 2020 by Zachariah George and Janade du Plessis, with chairperson Margaret O' Connor also on the board, Launch Africa Ventures closed its its inaugural fund, Launch Africa Ventures Fund 1, in March at an amount of US$36.3 million, with investments from 238 retail and institutional investors in 40 different countries.

Fund 1 announced its 100th investment at the end of May, following the successful closing of the fund. To date, the fund has invested a total of US$24 million in 108 early-stage technology and technology-enabled enterprises located in 20 different African nations.

" We assist the African founders of early-stage technology and technology-enabled enterprises to focus on what the continent needs right now, which is the rapid growth of businesses that are solving real-world problems in conjunction with the creation of high-value jobs in sustainable initiatives. According to George, "We are proud to have assisted many founders in closing their seed funding rounds in 4-6 weeks, which is noticeably faster than the 4-6 month period of time that it is typically required for early-stage founders to close rounds in Africa." Moreover, "We are proud to have helped many founders close their seed funding rounds in 4-6 weeks."

Additionally, Launch Africa makes it easier for its Limited Partners (LPs) to participate in co-investment by covering the costs of due diligence, waiving fees, and absorbing charges for LPs participating in seed and pre-Series A investments that are led by the fund. To this day, Launch Africa LPs have contributed more than $14 million in co-investments to the firms that are part of the Launch Africa portfolio.

According to du Plessis, who works with Launch Africa, "The Launch Africa team works with founders and professional advisors to fast-track exit options for investors." The provision of our exit option during these trying times inspires investor confidence and confers major benefits on the ecosystem of the African technology industry.