Grace Ashiru
Cape Town-based venture capital firm HAVAÍC has announced the third close of its African Innovation Fund 3, securing over $30 million in commitments toward a $50 million target.
The latest close follows an investment from E Squared Investments, a South African impact investor established by Allan Gray in 2007. E Squared joins existing investors Fireball Capital, Universum Wealth, the SA SME Fund, and Sanlam Multi-Manager.
Founded in 2015, HAVAÍC focuses on post-revenue, high-growth African technology startups. Launched in March 2023, Fund 3 has deployed $10 million across eight companies to date, including fintechs SAPay and Entersekt, with follow-on investments in Sportable and Talk360. The fund targets up to 15 investments and is on track to reach its final close in August 2026.
Recent exits from HAVAÍC’s portfolio include RapidDeploy, sold to Motorola Solutions, and hearX Group.
