Finance

Janngo launches $66.5mln fund to back African startups

Janngo launches $66.5mln fund to back African startups
Wednesday, 22 January 2020 12:37

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).

Chamberline Moko

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