Africa Capital Digest tracked the following notable Africa-related private capital fund and investment vehicle launches during the first quarter of 2024. Here they are, ranked by size.
1) Sawari Ventures
Fund Name: Sawari Egypt Fund II Final Close Goal: $150 million Launched: February 2024
Sawari Ventures is launching a new venture fund to back startup opportunities in Egypt. The Cairo-headquartered venture firm is aiming to raise $150 million for the fund which will invest in sectors that it expects to grow in Egypt such as fintech, education, healthcare, green technology, and deep technology.
Coverage in Africa Capital Digest: Sawari plans $150mln Egypt-focused venture fund
2) Emerging Africa Group
Fund Name: AAA Impact Fund Final Close Goal: $100 million Launched: March 2024
Nigeria-based Emerging Africa Group has set up the Africa Asia Arabia Impact Fund (or AAA Impact Fund) in partnership with Hong Kong-headquartered Titan Financial Services, and Fleur Capital, a fund manager in Singapore managing $450 million in assets. The $100 million AAA Impact Fund will invest its capital across all three continents
Coverage in Africa Capital Digest: Emerging Africa Group launches new impact fund with Asian Investors
3) Ring Capital
Fund Name: Ring Africa Final Close Goal: $55 million Launched: March 2024
Ring Capital has launched an Africa-focused impact fund to back early-stage startups in Francophone West Africa. Ring Africa will invest in businesses with operations that have or will have significant social and environmental impacts in the region.
Coverage in Africa Capital Digest: French VC firm launches Francophone Africa impact fund
4) Conducive Capital
Fund Name: Conducive Capital I Final Close Goal: $50 million Launched: March 2024
Conducive Capital, a new South Africa-based venture firm, is hitting the fundraising trail for its first fund. The Johannesburg-based venture firm, which has set itself the goal of raising $50 million by March 2026, aims to hold the fund’s first close of $15 million by the end of July. The fund will be pitched to local and international investors.
Coverage in Africa Capital Digest: Conducive Capital hits fundraising trail for debut fund
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