ANAVA of Tunisia invests $4.3 million in Janngo fund for women-focused businesses according to reports. Africa-focused Janngo Capital Startup Fund (JCSF) has reportedly gotten €4 million in equity investments from ANAVA, Tunisia’s fund of funds in a bid to invest in francophone African startups as well as businesses founded by women.
ANAVA of Tunisia Invests In Janngo Fund
ANAVA, Tunisia’s fund of funds, has made its inaugural investment in Pan-African funds by contributing €4 million ($4.3 million) to the Janngo Capital Startup Fund (JCSF). This move aims to bolster Tunisian startups’ presence in Francophone African markets targeted by the investment.
The fund also intends to allocate resources to support early-stage startups with the potential to drive economic, social, and environmental progress.
The Janngo Capital Startup Fund, led by Fatoumata Bâ, who serves as its executive chair, is the second investment vehicle established by Janngo Capital. Notably, the fund has a strong commitment to gender diversity, with 56% of its portfolio companies being led by women and 54% operating in Francophone regions.
The Fund’s Dedication to Supporting Innovative Tech Startups
Following ANAVA’s investment, Fatoumata Bâ emphasized the fund’s dedication to supporting innovative tech startups, particularly those in Francophone countries and those founded by women.
This additional equity investment, coupled with a previous €60 million (~$6.5 million) investment announced in September 2022, underscores JCSF’s commitment to driving positive change through early-stage tech ventures.
Janngo Capital Investment in Susu
In December 2023, Janngo Capital participated in notable investments, including a $4.9 million investment in Susu, an Ivorian healthtech startup, and a $2.65 million pre-seed round in MAKA, a fashion and beauty social commerce platform.
In October 2023, the fund led a $3 million pre-series A round in Star News Mobile, a platform for monetizing content creators in Africa.
ANAVA is Tunisia’s First Euro-Denominated Fund of Funds
Managed by Smart Capital, ANAVA is Tunisia’s first euro-denominated fund of funds, with an initial target size of €100 million ($22 million) from KFW, which aims to foster connections with global players and support Tunisia’s burgeoning startup ecosystem.
Alaya Bettaieb, Director General of Smart Capital, expressed optimism about the investment’s potential to facilitate partnerships on a global scale.
MORE RELATED POSTS
