African-focused VC launches new fund 

HAVAÍC in partnership with Universum Wealth has secured funding to launch its newest fund, The HAVAÍC Universum Core African Fund.

The HAVAÍC Universum Core African Fund has secured its second close of funding

Ian Lessem, managing partner at HAVAÍC comments on the second close of the fund. 

“I am buoyed by the results from the Fund’s second close and the interest shown by local and international investors supporting the Fund JV between HAVAÍC and Universum Wealth. It is also gratifying to see the majority of funding commitments coming from international investors. This speaks volumes for how VC in Africa is an asset class being noticed by international investors, who contribute not only foreign investment into our local economies but give our markets exposure to their international networks as well.”

Universum Wealth is an international investment management firm with deep experience in both listed and private markets.

HAVAÍC’s new fund

HAVAÍC invests and supports early-stage high-growth African tech startups and companies. 

The new fund will allow both South African and international investors to invest in VC investments which they would otherwise not have access to. 

HAVAÍC, whose portfolio companies provide technology-enabled solutions for close to half a million customers in over 180 countries around the world, provides investment and strategic support to post-seed, pre–Series B, African technology startups.

The fund is aiming to secure a third and final close targetting up to $20-million later this year. 

Jonathan Sieff, Managing Partner at Universum Wealth comments on the JV. 

“Private markets are an important source of value and diversification for our clients. We have worked with the HAVAÍC team for several years and are delighted to partner with them on their Pan-African Fund. HAVAÍC are exceptionally well-networked in the African VC space and has a proven ability to source compelling investment opportunities. They subsequently apply their strategic insights and deep understanding of the best practice to deliver amazing value to the companies they have invested in and are increasingly demonstrating how their unique approach delivers favourable exits for their companies and our clients. We are delighted to continue to build our partnership with HAVAÍC and view the Fund as an exciting opportunity for our clients, Universum Wealth, and other investors.”

Read more: Hlayisani Growth Fund secures R350-million
Read more: Applications for 2021 SAB Social Innovation and Disability Awards open 

Featured image: Ian Lessem, Managing Partner at HAVAÍC (Supplied)



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