Janngo Capital Closes Second Fund at USD USD 79 M

African venture capital firm Janngo Capital has closed its second fund, the Janngo Capital Startup Fund (JCSF), at USD 79 M, surpassing its initial target of USD 66 M. The fund, dedicated to financing tech-enabled startups driving progress towards the Sustainable Development Goals (SDGs) in Africa, focuses on promoting gender equality. It commits to investing 50% of its proceeds in companies founded, co-founded, or benefiting women.

Janngo Capital initially announced its €60 million (USD 66.5 M) fund in 2020, receiving a USD 16.6 M anchor investment from the European Investment Bank (EIB). In 2022, the fund achieved its first close at €34 million (USD 33 M). In April 2024, Janngo Capital received additional investments, including a USD 4.3 M contribution from ANAVA, managed by Smart Capital.

Founded in 2018 by Fatoumata BA, Janngo Capital focuses on building, growing, and investing in pan-African digital companies with inclusive social impact. It aims to create digital champions with sustainable business models across the continent.