Janngo Capital announces final close of its oversubscribed $78m funding - Ripples Nigeria
Connect with us

Tech

Janngo Capital announces final close of its oversubscribed $78m funding

Published

on

Janngo Capital, a venture capital firm has reached the final close of its oversubscribed $78 million fund, marking Africa’s largest gender-equal tech Venture Capital (VC) fund.

With this fundraising, Janngo Capital becomes the largest venture capital firm accelerating gender equality in Africa after making about 30 investments in 21 startups, and has successfully exited the leading fintech company Expensya, achieving an average internal rate of return (IRR) of 48%.

The firm’s investment thesis strikes a balance between financial returns and tangible impact as evidenced by the successful exit of Expensya to unicorn Medius and by its 56% women-led portfolio companies, such as the soonicorn Sabi.

READ ALSO: Gebeya establishes innovative ecosystem to bridge shortage of AI skills in Africa

“We are proud to announce the final closing of our second investment vehicle at $78 million, 20% above our initial target pledged in Davos. We are particularly honored to have attracted a great mix of top-tier investors, African and global, institutional and private, impact and commercially driven to support our ambitious vision.

‘‘Beyond our team, it is a strong signal of confidence in the African tech ecosystem and its solid growth prospects. We are committed to keep supporting category-defining startups leveraging technology to help leapfrog development in Africa, in a more equal way,” commented Fatoumata Bâ, Founder and Executive Chair of Janngo Capital.”

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

six + seven =

Exit mobile version