The Africa-focussed early growth Savannah fund has raised $25 million as it drives looks to back more early-stage startups across Africa. Savanah Fund has a presence in South Africa, Tanzania, and Kenya. The fund is huge on startups with scalability across Africa. For instance, Aerobotics recently expanded to the United States and Sendy runs on multiple East African markets.
This is the second capital infusion of the Mauritius-headquartered fund after making its first close led by International Finance Corporation (IFC) alongside participation from the Women’s Finance Initiative (WeFi). Other notable investors also participated in the funding round.
Savannah has thus far invested in seven startups focussed on areas of edtech, e-commerce, fintech, logistics, Saas, and agritech. Among the investments they have publicly announced are; Orbit Health(an Ethiopian healthltech), Moringa School and Safigen (Kenya-based), and Ando Foods.
In 2020, Savannah Fund raised over $118 million in their Serie A, B, and C from their portfolio spread worldwide.