Grace Ashiru
E4E Africa, a South African venture capital firm, has completed the first round of funding for its E4E Africa Fund II, achieving a milestone with a targeted size of US$30 million. The company is actively garnering interest from new investors globally, signaling its intent to expand its reach further. Launched in July 2020 with support from the SA SME Fund, E4E Africa’s inaugural fund witnessed 11 strategic investments in companies such as Qwili, a digital marketplace, SweepSouth, a home-services portal, and Pineapple, an insurtech firm.
“Our robust connections with founders and experienced African entrepreneurs have resulted in a surge of exceptional investment opportunities,” stated Bas Hochstenbach, managing partner at E4E Africa. “The successful first close empowers us to support the remarkable founders we encounter.”
“We are delighted with the performance of our Fund II portfolio to date,” expressed Bakang Komanyane, principal at E4E Africa. “Our Fund II portfolio companies are flourishing, and we eagerly anticipate announcing a follow-on investment in the coming weeks.”
Fintech, education and employment tech, e-health, and energy solutions stand out as areas where the fund’s investments have proven most fruitful. The focus remains on supporting the strongest entrepreneurial teams in Sub-Saharan African nations. The network of seasoned entrepreneurs is a key source of value, with a commitment to founder-centric support.
