This follows a highly successful first fund, Launch Africa Ventures Fund 1, which closed in March 2022 at US$36.3 million, with backing from a diverse range of investors across 40 countries.

Building on this momentum, Launch Africa Ventures is focusing its investments on startups aligned with its core principles: diverse founders, strong sectors, promising market opportunities, and broad geographic reach.

“As one of the most active pan-African investors in Africa since 2020, we are maintaining our commitment to the growing African VC and startup ecosystem by continuing to be a top-performing, value-adding and founder-friendly investor,” the company said.

Startups Receiving Investment:

South Africa:

• Servisor (car service marketplace)
• Credit Circuit (working capital service)
• Shiprazor (logistics platform)

Senegal:

• Lengo (FMCG insights platform)
• Paps (logistics service)
• Solarbox (energy company)

Kenya:

• Logistify (inventory tracking platform)
• Octavia Carbon (direct air capture company)

Nigeria:

• Periculum (data management startup)
• Kredete (lending marketplace)

Rest of Africa

• Bosso (Zambian prop-tech)
• Zuri (DRC-based beauty startup)
• Meditect (e-health company, Ivory Coast)
• Viebeg (Rwandan e-health startup)
• Wahu! (Ghanaian e-bike venture, formerly MANA Mobility)
• An undisclosed Egyptian e-health startup