Saviu Ventures, a venture capital firm specialising in Francophone Africa, has closed a second €25 million (USD 26 million) round for its Saviu II fund.
The fund aims to support early-stage startups in the region, continuing its strategy of investing from Seed to Series A rounds. The announcement was made on Wednesday.
AXIAN Investment, the investment arm of the AXIAN Group, and recognised Development Finance Institutions (DFIs), including the Dutch Good Growth Fund (DGGF) and Proparco, helped reach this milestone.
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Focus on tech startups in Francophone Africa
The second fund builds upon Saviu I, a €10 million fund launched in 2018, which was fully allocated to high-potential startups in Francophone Africa.
The first close of Saviu II occurred in 2023 at €2 million, attracting private investors, European and African entrepreneurs, high-net-worth individuals, and family offices. Saviu II is approaching its final target of €30–€50 million.
Saviu Ventures targets tech and tech-enabled businesses in various sectors, including fintech, health tech, edtech, climate tech, and e-commerce.
Saviu II will deploy investments ranging from €500,000 to €3 million, often acting as a lead or reference minority shareholder and adopting a hands-on approach to supporting portfolio companies in business development, recruitment, expansion, and fundraising.
Saviu’s investments
Saviu II has already backed several startups:
Waspito (Cameroon): A digital health platform providing online consultations and at-home lab services.
Workpay (Kenya): A SaaS HR and payroll platform operating in Kenya and Nigeria.
Julaya (Ivory Coast): A B2B neobank offering virtual accounts and batch mobile money transfers.
Rubyx (Senegal): A lending-as-a-service fintech platform enabling credit assessments for SMEs.
Resolute (South Africa): A robotics and coding education platform for K-2 schools.
Userguest (Morocco): A marketing automation software for hotels to optimise direct bookings.
Saviu I portfolio
The first fund, Saviu I, has shaped the venture ecosystem in Francophone Africa with investments in startups such as:
Zanifu (Kenya): An inventory financing platform that has disbursed SMEs over $45 million in credit.
Paps (Senegal): A logistics startup providing delivery and freight services across West Africa.
Anka (Ivory Coast): A SaaS e-commerce platform facilitating payments and logistics for African vendors.
Lapaire (Ivory Coast): An affordable eyewear retailer in six African countries.
Read also: AfricInvest secures $10.7 million from Proparco for African startups
Saviu Ventures secured licensing from the Mauritius Financial Services Commission (FSC), establishing itself as one of the few independent, fully regulated venture capital fund managers in Francophone West Africa.
Benoit Delestre, Managing Partner at Saviu Ventures, said, “We are grateful to welcome our first institutional investors as well as a new strategic investor.
Their involvement validates our investment approach in Francophone Africa and strengthens our ability to deliver more excellent value to our portfolio by fostering impactful connections with corporate partners and international organisations.
This milestone marks an exciting new chapter in our mission to support talented African founders building innovative and sustainable companies across the continent.”
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