By Africa Links 24
Published on 2024-03-26 08:48:08
ANAVA, a venture capital firm with a target size of €60 million, is committed to investing in approximately twenty-five startups in francophone Africa. Their goal is to empower Africans to improve their access to essential goods and services such as healthcare, education, and financial services, as well as to help African startups enhance their access to markets and capital. Additionally, they aim to create sustainable jobs on a large scale, with a specific focus on women and youth.
Having a proven investment track record in Tunisia, which includes early investment and successful exits in companies like Expensya, ANAVA has garnered support from top-tier investors such as the European Investment Bank (EIB), Africa Development Bank (AfDB), and Proparco. Furthermore, ANAVA benefits from a €10 million first-loss mechanism provided by the European Commission through the Boost Africa initiative.
“This represents ANAVA’s first investment in Pan-African funds. It will not only enable Tunisian startups to expand their market presence in the growing African market but also allow ANAVA to establish connections with other global players on the continent,” stated Alaya Bettaieb, Director General of Smart Capital.
In a strategic move to further support innovative tech startups in Africa, particularly in francophone countries and those led by women, Smart Capital has decided to make an additional €4 million equity investment in the Janngo Capital Startup Fund. Fatoumata Bâ, Founder and Executive Chair of Janngo Capital, expressed her excitement about this commitment, emphasizing how it will contribute to investing in leading early-stage startups and unlocking substantial growth with positive economic, social, and environmental impacts in Tunisia and beyond.
The collaboration between ANAVA, Smart Capital, and Janngo Capital signifies a joint effort to drive entrepreneurship and innovation in the African startup ecosystem. By providing funding and support to emerging companies, they aim to catalyze progress and sustainable development in the region. Additionally, with a specific focus on empowering women and youth, these investments have the potential to create a more inclusive and diverse entrepreneurial landscape in Africa.
Overall, ANAVA’s investment strategy aligns with the goal of fostering economic growth and social impact in the region. By supporting startups and entrepreneurs in francophone Africa, they are not only contributing to the development of essential services and job creation but also building a foundation for sustainable prosperity in the years to come. As they continue to expand their portfolio and partnerships, ANAVA remains dedicated to driving positive change and innovation in the African startup ecosystem.
