African tech startups that tackle the UN’s Sustainable Development Goals (SDGs) are set to benefit from the launch of the €60-million Janngo Capital Startup Fund.
The launch of the fund was announced earlier this week by Ivory Coast and Paris-based social startup studio Janngo.
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Janngo builds, grows and invests in pan-African tech startups with proven business models and inclusive social impact.
The social startup studio announced in a statement on Monday (20 January) that the Janngo Capital Startup Fund is anchored by a €15-million investment by the European Investment Bank.
At least half of Janngo Capital Startup Fund’s investees will be startups founded, co-founded or benefiting women
Janngo explained that half of the fund’s investees will be startups founded, co-founded or benefiting women.
Fatoumata Ba (pictured above), who is the founder and executive chair of Janngo, said investments will range between €50 000 and €5-million.
Ba, who is also Janngo Capital’s managing partner, said startups across Africa — from seed through growth stage — that can demonstrate the ability to deliver financial and social returns will be eligible for investments.
She explained that Janngo will not only act as financial partners but as operating partners with a “very hands-on” and long-term approach as well as an “ecosystem thinking”.
Jango pointed out that the initiative is part of its broader commitment on financing the SDGs in Africa, as a member of the Goalkeepers Community and the Global Future Council of the New Economic Agenda of the World Economic Forum.
Featured image: Janngo founder and executive chair as well as Janngo Capital’s managing partner Fatoumata Ba (DLD Conference via Twitter)
