Breega Introduces $75 Million Fund Aimed at African Startups

European venture capital firm Breega is making a major play for the African startup scene with the launch of its first Africa-dedicated fund, the Breega $75 million fund. 

This ambitious initiative aims to position Breega as a leading early-stage investor in African entrepreneurs, fueling innovation and growth across the continent.

Headquartered in Paris, London, and Barcelona, Breega boasts a proven track record. 

Since its first fund in 2015, the firm has managed over $700 million in assets and invested in more than 100 startups globally. 

To spearhead its African expansion, Breega has opened new offices in Lagos, Nigeria, and Cape Town, South Africa.

The Breega $75 million fund will target ventures in high-growth African markets like Nigeria, Egypt, South Africa, and Kenya. 

French-speaking African countries, including Senegal, Ivory Coast, Cameroon, and the Democratic Republic of Congo (DRC), will also be a key focus area. 

This geographically diverse approach reflects the continent’s vast potential and Breega’s commitment to fostering innovation across the board.

Bridging the Funding Gap for African Startups

Africa is a land of immense potential, with 18% of the world’s population. However, it receives a meager 1% of global venture capital funding. 

This significant financing gap hinders the continent’s potential for a true technological revolution. 

Melvyn Lubega, renowned for creating the digital education unicorn Go1, leads the new Breega Africa Seed I fund. 

Lubega, based in Cape Town, believes that Breega, with its global network and founder-centric approach, is uniquely positioned to bridge this gap. 

Partnering with Tosin Faniro-Dada, former CEO of Endeavour Nigeria, further strengthens the leadership team. 

Faniro-Dada, overseeing operations across Western and Northern Africa, brings invaluable experience from her role as a director at the African fintech unicorn Flutterwave.

Read More: Innovate Africa Unveils $2.5M Fund To Support Early-stage Startups Focused On Africa

Investing in Innovation and Sustainability

Africa’s entrepreneurial ecosystem is brimming with talent and ambition, driven by a desire to tackle the continent’s unique challenges. 

The Breega $75 million fund aligns with this spirit, focusing on critical sectors such as agri-tech, ed-tech, e-health, fintech, insurtech, prop-tech, and logistics. 

By prioritizing high-impact and sustainable solutions, Breega aims to contribute to achieving the United Nations’ Sustainable Development Goals (SDGs).

Investing in People and Solutions

The fund will make initial investments ranging from $100,000 to $2 million.  Breega is more than just money, though.  

The firm is committed to providing its portfolio companies with hands-on support and guidance. 

Their in-house scaling team has a proven track record of helping startups like Numida, Socium, Klasha, Kwara, Coachbit, and Sava gain traction and achieve success.

The launch of the Breega $75 million fund is a significant development for the African startup ecosystem. 

Breega’s expertise, combined with its commitment to Africa’s future, positions the firm to play a vital role in nurturing the continent’s next generation of innovative companies.

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