Launch Africa Ventures Deploys $4.3 Million into 16 African Startups from Second Fund

Launch Africa Ventures, an early-stage venture capital firm, has injected $4.3 million into 16 startups spanning the African continent as part of its second fund initiative. This follows the firm’s prior achievements, which include 133 investments through its first fund.

The VC firm was established in July 2020 by Zachariah George and Janade du Plessis, with Margaret O’Connor serving as the chairperson. The inaugural fund, Launch Africa Ventures Fund 1, was successfully closed in March 2022, securing $36.3 million from 238 retail and institutional investors across 40 countries.

In line with its investment strategy focused on founder diversity, sector robustness, market potential, and geographical diversity, the second fund has supported startups across 11 African countries.

In South Africa, three startups received funding: car service marketplace Servisor, working capital service Credit Circuit, and logistics platform Shiprazor. Similarly, Senegalese startups Lengo (an FMCG insights platform), logistics service Paps, and energy company Solarbox were also funded.

Kenyan startups Logistify, an inventory tracking platform, and Octavia Carbon, a direct air capture company, are among the recipients. Nigerian startups include Periculum, a data management firm, and Kredete, a lending marketplace.

Other notable investments were directed toward Zambian prop-tech startup Bosso, beauty startup Zuri in the DRC, Ivorian e-health company Meditect, Rwandan e-health startup Viebeg, Ghanaian e-bike venture Wahu! (formerly MANA Mobility), and an Egyptian e-health startup.