Saviu Ventures, a prolific Venture Capital firm in Francophone Africa, recently marked a significant milestone with the first close of its second fund, Saviu II, securing EUR 12 million in funding. Below, we explore how Saviu Ventures plans to deploy these new funds in African startups.
Historical Background and Expertise:
Saviu Ventures, founded in 2018, has established itself as a key player in the Francophone Africa Venture Capital landscape. Led by experienced entrepreneurs Benoit Delestre, Samuel Touboul, and Cynthia Mandjek, the team brings over 15 years of entrepreneurial experience, a decade of Venture Capital and Private Equity expertise, and backgrounds in renowned firms like Eurazeo and Orange Ventures.
Saviu II Fundamentals:
- Fund Size: EUR 12 million.
- Investor Base: Private investors, including European and African entrepreneurs, high-net-worth individuals (HNWI), and Family Offices.
- Investment Focus: Early-stage startups from Seed to Series A, with a strong emphasis on Francophone Africa.
Sector Agnosticism with a Focus:
- Saviu’s Sectors of Interest: Tech or Tech-enabled companies in Fintech, Healthtech, Edtech, ClimateTech, and E-commerce.
- Investment Range: EUR 500k to EUR 3.0m per startup.
Hands-On Approach:
- Operational DNA: Saviu Ventures follows a hands-on approach, avoiding the “Spray and Pray” philosophy. The team provides comprehensive support, including business development, recruitment, international expansion, and fundraising.
Proven Track Record:
- Successful Portfolio: Saviu I, the predecessor fund, invested in 12 startups, primarily in Francophone Africa, with notable success stories such as Anka, Julaya, Zanifu, Lapaire, and Paps.
- Key Holdings: Saviu maintains significant shareholdings in successful companies like Anka (20%), Julaya (board seat), Zanifu (15%), Lapaire (22%), and Paps (reference minority shareholder).
Regulatory Approval and Independence:
- Milestone: Saviu II and its management company secured a License from the Mauritius Financial Markets Authority (FSC).
- Significance: This positions Saviu Ventures as one of the few fully independent and regulated Venture Capital Fund management entities in the Francophone West African region.
Geographic Presence:
- Team Distribution: Saviu Ventures has a team of over 7 investors and operators spread across Abidjan, Dakar, and Paris, reflecting a strategic geographic presence.
Recent Investments:
- Companies Funded: Saviu II has already made investments in Waspito (Cameroon), Rubyx (Senegal), and Workpay (Kenya), showcasing the fund’s proactive approach.
Founder’s Perspective — Quotes:
- Benoit Delestre (Partner): “Reaching the first close of Saviu II and obtaining our License is a recognition of all the work that has been done… We are now ready to support a new generation of talented entrepreneurs within the Tech industry.”
- Samuel Touboul (Partner): “The renewed commitment of private investors from our first to our second fund is for us a key sign of confidence in our very focused strategy, and its capacity to scale-up startups while creating both value and impact.”
Future Outlook:
- Strategic Vision: Saviu II aims to leverage the strong brand name of Saviu Ventures, a reinforced team, and a new institutional framework to further invest in the flourishing startup ecosystem in Francophone Africa.
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