Cape Town-Based Venture Capital Firm HAVAÍC Progresses Towards Finalization of US$50 Million African Innovation Fund 3
Investment Obtained by HAVAÍC for $50 Million Fund to Bolster African Tech Development
Cape Town-based venture capital firm HAVAÍC is making significant strides in the finalization of the second close of its US$50 million African Innovation Fund 3. This fund, dedicated to the African technology landscape, has recently secured an additional US$25 million from leading institutional investors such as Sanlam Multi-Manager, Fireball Capital, and the SA SME Fund.
The growing institutional confidence in African venture capital is evident in HAVAÍC's achievements. The firm, recognised as a leader in scaling high-potential African tech startups globally, has formed strategic partnerships with major financial services groups, making them among the first allocations to South African venture capital.
HAVAÍC's portfolio spans across three funds, serving 22 million customers in 183 countries. The firm's recent investments in fintech and tech-enabled sectors, such as SAPay, a digital payment solution for South Africa’s taxi industry, and Sportable, a sports data analytics platform, underscore their commitment to enhancing financial inclusion and supporting job creation in South Africa.
The firm's success has attracted both local and international institutional investors, who rely on HAVAÍC to responsibly manage their capital. With a proven track record of guiding African technology-enabled startups to successful international exits, HAVAÍC continues to earn the privilege of supporting African entrepreneurs.
Feedback from leading institutional investors like the SA SME Fund highlights HAVAÍC's dedication to providing strategic guidance and smart capital to African startups. As the firm solidifies its position in the African technology landscape, it continues to generate significant returns from its investments in African tech startups.
With over 20 portfolio companies, HAVAÍC's African Innovation Fund 3 is poised to continue making a wide-reaching impact on the African technology sector. The firm's focus remains on scaling high-growth, African-born technology startups with global potential, further cementing its role in advancing African tech entrepreneurship.
[1] HAVAÍC Press Release, "HAVAÍC Announces Second Close of US$50 Million African Innovation Fund 3," [Date of Publication], [URL] [2] BusinessTech, "HAVAÍC Secures US$25 Million in Commitments for African Innovation Fund 3," [Date of Publication], [URL] [3] Ventureburn, "HAVAÍC's African Innovation Fund 3 Attracts Leading Institutional Investors," [Date of Publication], [URL]
- The African Innovation Fund 3 managed by HAVAÍC, a Cape Town-based venture capital firm, is primarily focused on investing in African technology startups, demonstrating a commitment to enhancing financial inclusion and fostering job creation within the region.
- Through its strategic partnerships with major financial institutions and smart capital investments in technology sectors such as fintech and sports data analytics, HAVAÍC is establishing itself as a leader in scaling high-potential African tech startups and generating significant returns for its institutional investors.
- As HAVAÍC progresses towards finalizing US$50 million for African Innovation Fund 3, the firm's reputation as a responsible manager of capital and influential supporter of African entrepreneurs continues to grow, attracting further interest and investment from both local and international institutional investors.
