HAVAÍC launches FUND 3
Africa’s early-stage tech companies continue to defy the global funding slump. Last year, VC funding for African tech companies grew by 8% compared to a 35% drop globally. It is one of the many reasons we continue to put our weight behind African-born innovation. By combining our capital with strategic and commercial support, our 19-strong portfolio of tech-enabled companies continues to thrive. In turn, we continue to deliver our benchmark annual average return of 30%.
A track record of growth
On the back of our global reach and local expertise, we are exceptionally pleased to announce the launch of our third African-focused venture fund. With investment from international investment and wealth management firm Universum Wealth and SA- and US-based institutional investors, including Fireball Capital and Sango Capital, our Fund 2 continues to enjoy tremendous success. The US$50 million Fund 3 is set to perform on par with our first two funds.
Our dynamic market has an abundance of emerging entrepreneurs. They have a profound desire to positively impact people's lives by solving real-world problems in their communities and beyond. Fund 3 will further enable our investors to support impactful opportunities in Africa that create skilled employment, generate revenue on our continent and abroad, and grow our local economies.
Building an exceptional tech portfolio
The Sub-Sahara African fund is set to deploy over three to four years and complete up to 20 investments in early-stage, high-growth tech companies born in South Africa, Kenya, and Nigeria. Fundraising commenced in Q1 2023. The first close is expected in Q3 2023, followed by the second and final close in 2024.
For more information, contact email@example.com.