HAVAÍC Announces Final Close of the HAVAÍC Universum Core African Fund HAVAÍC, a South African venture capital firm, has announced the third and final close of its second pan-African investment fund.

The Fund invests in African startups that use technology to solve real-world regional and international problems. It also makes an impact on the markets they serve. The Fund supports seed investments in the early stages, up to Series A investments at a later stage. “The Fund’s institutional investors bring new international relationships and capital. Combining our expertise in Africa investing, this creates a winning combination of local knowledge, networks, as well as follow-on funding internationally. These are all necessary ingredients when scaling businesses,” said Ian Lessem, Managing Partner at HAVAÍC. Fund launched in 2020 in a joint venture partnership with Universum Wealth. It has since invested in numerous technology start-ups from Nigeria, Kenya, South Africa, and Kenya. Following its second close in 2021 and the inclusion of leading institutional partners such as South African-based Fireball Capital, the third and final close allows HAVAÍC to execute on its exciting pipeline of investment opportunities and leverage off its partnerships with existing and new investors in both Africa and across the globe. “The escalating interest from local and international investors supports the growing prominence of African venture capital as an asset class. This is due to an increase in investment over the past years, aided by a growing awareness of these attractive African investment opportunities for both local and international investors. And with the investment demand for African tech-enabled companies showing no signs of slowing down, this is just the tip of the iceberg,” added Lessem. Over the next three-years, the Fund could make up to 25 investments. A third have been invested in early-stage African technology companies, in the FinTech and HealthTech industries. This includes Aura, Kuda and Crowdforce as well Tanda and RecoMed. “We are drawn to HAVAÍC’s track record of supporting businesses that use technology-enabled solutions to solve real-world problems,” said Justin James, Investment Partner at Fireball Capital. “The impact of our smart capital allocation will result in sustainable job creation in South Africa and on the rest of the continent. And we look forward to working with our partners to successfully internationalize these businesses onto the global stage,” he added. The news follows the release of HAVAÍC’s 2021 results. The VC firm’s portfolio companies now serve a combined 5 million customers in over 180 countries across the globe. Last year, HAVAÍC‘s portfolio companies raised US$110 million in fresh capital and increased revenue by 160%. To date, HAVAÍC has achieved three international exits, delivering annualized returns to its investors of 155%. “Investing in private markets has become an increasingly important consideration for private clients, and the continued success of our joint venture with HAVAÍC has ensured that we deliver the investment needs of our clients in this fast-growing asset class,” said Jonathan Sieff, Co-Managing Partner at Universum Wealth.




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