South African Venture Capital Fund E4E Africa Announces The First Closing of Its Fund II at $30 Million
Entrepreneur-centric Venture Capital Fund E4E Africa, headquartered in South Africa, has disclosed the initial closing of its Fund II, securing a total of US$30 million.
Announcing the closure of the fund II, the Venture Capital Fund said it is now actively attracting interest from additional investors, both local and international, enabling it to further expand its reach and impact.
Speaking on this, managing partner at E4E Africa Bas Hochstenbach said,
“Our strong relationships with founders and seasoned African entrepreneurs have led to a surge in outstanding investment opportunities. This first close enables us to back the exceptional founders we see before us.”
Also speaking, Principal at E4E Africa, Bakang Komanyane said, the company is thrilled with the performance of its Fund II portfolio so far. He further added that the Fund II portfolio companies are thriving, and the company is excited to announce a follow-on investment in the coming weeks.
E4E Africa Fund II has already invested in several companies which include, Kwara, Kenyan core banking platform provider, TUNL, a South African tech-enabled export shipping provider, Mophones, YEBO FRESH, and VULA, amongst others.
Launched in 2020, E4E (“Entrepreneurs for Entrepreneurs”) specializes in supporting early-stage ventures in South Africa from very early stage (pre-series A) to scale up. The VC firm focuses on key sectors like fintech, education, job tech, e-health, and energy solutions.
With a strong portfolio, E4E Africa is actively attracting additional investors, both local and international, to expand its influence and support exceptional founders in the region.
The Venture Capital fund has a vision to support experienced entrepreneurs and business leaders, working on growth and innovation in key economic sectors that will drive prosperity in South Africa.
