Saviu Ventures Announces €12M First Close for Second Fund Targeting Francophone Africa
Saviu Ventures, a venture capital firm focused on Francophone Africa’s startup ecosystem, has successfully reached a €12 million first close for its second fund. The round was backed by private investors, including prominent French and Kenyan family offices.
Fund Targets and Investment Strategy
The VC firm aims to ultimately raise between €30 million and €50 million for this fund, with plans to engage institutional investors to meet this target. Saviu Ventures will maintain its core focus on Francophone Africa while retaining flexibility to invest in startups from East, Southern, and North Africa that show potential for expansion into Francophone markets.
Key investment details:
- Investment range: €500,000 to €3 million per startup
- Target companies: 15-20 post-revenue startups
- Priority sectors: Fintech, health tech, and climate tech
- Reduced focus: E-mobility, e-commerce, and e-logistics
Founders’ Vision for Sustainable Growth
Co-founders Benoit Delestre and Samuel Touboul emphasize a philosophy of supporting sustainable businesses rather than chasing unicorns.
“We believe in supporting talented entrepreneurs building sustainable businesses,” Touboul told TechCrunch. “We’re not interested in business models that rely on burning cash.”
Portfolio Highlights and Track Record
The second fund has already made strategic investments in:
- Waspito: Cameroonian health tech platform
- Rubyx: Senegalese digital lending SaaS provider
- Workpay: African HR-payroll solutions provider
Saviu’s first €10 million fund, deployed since 2018, invested in 12 startups with 82% coming from Francophone Africa. Notable portfolio companies include:
- Anka (formerly Afrikrea): Ivorian e-commerce platform
- Julaya: Ivorian neobank
- Zanifu: Kenyan digital lender
- Lapaire: Eyewear retailer operating across multiple Francophone countries
- Paps: Senegalese e-logistics startup
The Rising Appeal of Francophone Africa
Saviu Ventures stands among the first VC firms to specifically target Francophone Africa, recognizing the region’s:
- Lower competition compared to mature Anglophone markets
- Significant market opportunities
- High-quality deals at better valuations
According to Partech’s 2022 report, Francophone Africa accounted for:
- 49% of deals outside the “Big Four” (Egypt, Kenya, Nigeria, South Africa)
- 38% of total funding in non-Big Four markets
Ecosystem Growth and Future Outlook
Delestre notes significant progress since Saviu’s founding in 2018: “The ecosystem in Francophone Africa is now much more developed. While still behind Kenya or South Africa, we’re seeing more founders and better infrastructure than five years ago.”
This second fund positions Saviu Ventures to continue capitalizing on the region’s growth while maintaining its commitment to sustainable, founder-driven businesses.
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