Monday, April 15, 2024
HomeBusinessANAVA Fund of Funds commits investing €4 million in Janngo Capital Startup...

ANAVA Fund of Funds commits investing €4 million in Janngo Capital Startup Fund

With a target size of €60 Million, ANAVA commits to invest in about twenty-five startups in francophone Africa, to enable Africans to improve their access to essential goods and services such as healthcare, education, or financial services; African Start-ups to improve their access to market & capital; or create sustainable jobs at scale, with a focus on women and youth.

With proven investment track record in Tunisia, including the early investment and successful exit in Expensya, the ANAVA is backed by top-tier investors such as 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.

This is ANAVA first investment in Pan-African funds. It will help Tunisian Startups to widen its market and its presence in growing Africa and ANAVA to build connections with other global players on the continent” comments Alaya Bettaieb, Director General of Smart Capital.

“An additional 4 million euros equity investment in Janngo Capital Startup Fund from Smart Capital will increase funding for innovative tech startups in Africa, in particular Francophone countries and companies founded by women,” comments Fatoumata Bâ, Founder and Executive Chair of Janngo Capital. “This commitment directly contributes towards investing in leading early-stage start-ups to help unlock a massive growth and positive economic, social and environmental impact, in Tunisia and beyond.”

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