HAVAÍC, a Cape Town-based venture capital (VC) firm, has announced the completion of its second $20 million pan-African investment fund, which was previously closed on three occasions. According to the firm, the fund invests in African-born entrepreneurs that employ technology to solve real-world local, regional, and worldwide concerns and have a positive impact on the marketplaces in which they compete.
The Fund expects to make up to 25 investments over the next three years, depending on market conditions. At this point, one-third of the cash has already been allocated to early-stage African digital businesses in the fintech sector, as well as the healthtech and safetech sectors, including Aura, Kuda and Crowdforce; Mobiz; Comparisure; Tanda; RecoMed and HearX; and Aura.
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The Fund’s managing partner, Ian Lessem, stated: “Institutional investors in the Fund bring in fresh international contacts as well as capital to the Fund. Together with our investment experience in Africa, this is a winning combination of local expertise, networks and international follow-on capital that will benefit both parties. When it comes to scaling up a firm, these are all essential factors.’’
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh