The investment comes from cornerstone investors Universum Wealth and The SA SME Fund, as well as a network of local and international family offices.

The fund aims to invest in 15 high-growth African startups in the seed, Series A, and Series B stages.

With a focus on businesses demonstrating regional and global potential, HAVAÍC seeks to expand its portfolio, which already boasts over 20 million customers worldwide.

This announcement solidifies HAVAÍC’s position as a leading investor in the African tech ecosystem.

The firm’s previous funds have yielded impressive results, including a 400% increase in annual revenue and a landmark fifth exit in 2023.

Ian Lessem, Managing Partner at HAVAÍC, expressed enthusiasm about 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,” he said.

Jonathan Sieff, Managing Partner at Universum Wealth, praised HAVAÍC’s track record and investment strategy. “We are confident in HAVAÍC’s ability to deliver exceptional returns for our clients,” he stated.

Ketso Gordhan, CEO of The SA SME Fund, highlighted the fund’s alignment with the organization’s mission to support innovative solutions to social challenges. “We are excited to partner with HAVAÍC in their new fund,” she said.

HAVAÍC’s recent investments include sports data and analytics company Sportable, as well as follow-on investments in RNR, RapidDeploy, hearX Group, and AURA.

Several of its portfolio companies have achieved significant recognition, with RapidDeploy, hearX Group, FairMoney, and AURA ranking among Fast Company’s Most Innovative Companies and the Financial Times’ fastest-growing companies in Africa.