Janngo Capital, a venture capital firm has reached the final close of its oversubscribed $78 million fund, marking Africa’s largest gender-equal tech Venture Capital (VC) fund.
With this fundraising, Janngo Capital becomes the largest venture capital firm accelerating gender equality in Africa after making about 30 investments in 21 startups, and has successfully exited the leading fintech company Expensya, achieving an average internal rate of return (IRR) of 48%.
The firm’s investment thesis strikes a balance between financial returns and tangible impact as evidenced by the successful exit of Expensya to unicorn Medius and by its 56% women-led portfolio companies, such as the soonicorn Sabi.
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“We are proud to announce the final closing of our second investment vehicle at $78 million, 20% above our initial target pledged in Davos. We are particularly honored to have attracted a great mix of top-tier investors, African and global, institutional and private, impact and commercially driven to support our ambitious vision.
‘‘Beyond our team, it is a strong signal of confidence in the African tech ecosystem and its solid growth prospects. We are committed to keep supporting category-defining startups leveraging technology to help leapfrog development in Africa, in a more equal way,” commented Fatoumata Bâ, Founder and Executive Chair of Janngo Capital.”
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