The African Development Bank Group (AfDB) has approved a €6.5 million investment in the Saviu II fund. This investment will support technology startups through seed-stage financing and also support startups through their first institutional fundraising rounds.
Of the investment, €4.5 million will be used as equity, and €2 million will serve as a first-loss hedging tranche on behalf of the European Commission under the Boost Africa Programme. This support prioritizes companies with a strong technological or digital focus.
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Saviu II, the second fund from Saviu Partners and targets investments ranging from €500,000 to €3 million across about 20 technology or technology-oriented B2B startups in the seed phase or early institutional fundraising.
The fund will concentrate 60% of its commitments in French-speaking West and Central Africa, including Côte d’Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali. It will also co-invest in promising East African startups aiming to expand into French-speaking markets.
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