(Ecofin Agency) - Private equity firm Janngo, based in Abidjan, Côte d'Ivoire, announces the launch of a $66.5 million fund dedicated to financing startups in Africa. The fund, Janngo Capital Startup Fund, will target at least 50% of technology companies founded or co-founded by women entrepreneurs.
Janngo's investment strategy is to provide capital support to early-stage and growth companies with proven business models that generate significant financial and social returns. The funding to be allocated will be between €50,000 and €5 million, according to Fatoumata BA (pictured), President of Janngo.
Janngo aims is to empower African women “considered as the most enterprising in the world, but who face a financing gap of about $ 42 billion,” according to studies by the Roland Berger firm.
For this project, Janngo has received €15 million in support from the European Investment Bank (EIB).