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Tunisia’s Janngo Capital raises $4.3 million to fund technology startups in Africa

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WAS GOINGmanaged by Neat Capital, has made a $4.3 million investment in Janngo Capital Startup Fund (JCSF), a technology fund all for Africa and promoting gender equality. This marks Janngo Capital Companions’ 2d investment automobile.

JCSF is a gender equal technology fund and Janngo Capital Companions’ 2d investment automobile. With a target size of €60 million, the fund aims to make investments in about twenty-5 early-stage tech and tech-enabled startups in francophone Africa, collectively with Tunisia, to enhance glean entry to to well-known goods and services reminiscent of healthcare, education, or financial services among others.

Basically basically based on Alaya Bettaieb, Director General of Neat Capital, “Here is ANAVA’s first investment in pan-African funds. This might aid Tunisian startups to widen their market and their presence in growing Africa, and ANAVA will fabricate connections with diversified global players on the continent.”

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The fund additionally aims to enable African startups to enhance their glean entry to to market & capital, or create sustainable jobs at scale, with a highlight on girls folk and formative years. Funded by the World Bank, Caisse des Dépôts et Consignations (CDC), and the KFW, the Fund is backed by high-tier investors reminiscent of the European Investment Bank (EIB), Africa Development Bank (AfDB) and Proparco, and a €10 million first loss mechanism provided by the European Fee by the Boost Africa initiative.

A further €4 million fairness investment within the Janngo Capital Startup Fund from Neat Capital will lift funding for revolutionary tech startups in Africa, particularly Francophone nations and companies founded by girls folk, said Fatoumata Bâ, Founder and Govt Chair of Janngo Capital.

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“This dedication straight contributes in direction of investing in main early-stage open-u.s.a.to aid release a huge improve and sure economic, social, and environmental impact in Tunisia and beyond.”

ANAVA is Tunisia’s first euro-denominated fund of funds. It stands as a key pillar of the nationwide initiative “Startup Tunisia,” with the ambition to insist Tunisia as a hub of innovation and startups, interior the Mediterranean, MENA, and Africa areas.

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With an initial closing of €40 million subscribed by the CDC by a loan from the World Bank and €20 million subscribed by KFW, the fund of funds aims to elevate an additional €60 to develop partnering funds with the doable to make investments in Tunisian startups in Tunisia and in a foreign country, allowing them to tackle their improve and internationalisation wants.

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