Investment firm Breega successfully raises an initial sum of $75 million for its debut fund focusing on Africa.
Breega, a renowned French venture capital firm, has announced its foray into Africa with the launch of its sixth fund, the Africa Seed I, marking its first investment focus outside of Europe. The fund aims to invest in startups across various African markets, with a focus on the Big Four: Nigeria, Egypt, South Africa, and Kenya.
Breega's Impressive Portfolio
Before its Africa venture, Breega had built an impressive portfolio of startups in sectors like Fintech, SaaS, mobility, e-commerce, healthtech, proptech, and more. Some notable companies that Breega supported include Alan, Heetch, PayFit, ManoMano, Jow, Leavy.co, Voodoo.io, Luko, Sunday, Deepomatic, Ornikar, and Zenchef.
Expanding Footprint in Africa and EMEA
Breega has already made investments in several African startups and has now opened new offices in Lagos and Cape Town. These new locations enhance Breega's footprint throughout the EMEA region, strengthening its commitment to supporting innovative, digital startups across Europe and Africa.
In under ten years, Breega has amassed a portfolio comprising over 100 startups across 15 countries. The opening of new offices in Lagos and Cape Town complements Breega's existing offices in Paris, London, and Barcelona.
Breega's Africa Strategy
The investments made through the Africa Seed I fund will range from USD 100,000 to USD 2 million. Breega aims to make at least 40 investments from this first fund focused on Africa. The firm's strategy also includes investments in Francophone African markets, such as Morocco, Senegal, Ivory Coast, Cameroon, and the Democratic Republic of Congo (DRC).
It's important to note that Breega's sixth fund is not limited to the Big Four African markets mentioned. The firm is committed to identifying and supporting startups with high growth potential across the continent.
For the most up-to-date list of Breega's portfolio companies, it is recommended to visit the official Breega website. Breega has proven its ability to support disruptive, digital startups in Europe, particularly in France, and its Africa venture is a testament to its commitment to fostering innovation and growth in the tech sector worldwide.
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