Janngo Capital Raises USD 4.3 M To fund African Technology Startups

ANAVA, managed by Smart Capital, has made a USD 4.3 M investment in Janngo Capital Startup Fund (JCSF), a technology fund focused on Africa and promoting gender equality. This marks Janngo Capital Partners’ second investment vehicle.

JCSF is a gender equal technology fund and Janngo Capital Partners’ second investment vehicle. With a target size of €60 million, the fund aims to invest in about twenty-five early-stage tech and tech-enabled startups in francophone Africa, including Tunisia, to improve access to essential goods and services such as healthcare, education, or financial services among others.

The fund also aims to enable African startups to improve their access to market & capital, or create sustainable jobs at scale, with a focus on women and youth. Funded by the World Bank, Caisse des Dépôts et Consignations (CDC), and the KFW, the Fund is backed by top-tier investors such as the European Investment Bank (EIB), Africa Development Bank (AfDB) and Proparco, and a €10 million first loss mechanism provided by the European Commission through the Boost Africa initiative.