ANAVA Commits $4.7 Million Investment in Janngo Capital
The Janngo Capital Startup Fund is poised to support 25 North African startups.
ANAVA, Tunisia's euro-denominated fund of funds, has pledged an investment worth €4.3 million ($4.66 million) in Africa's Janngo Capital Startup Fund (JCSF). The fund, targeting early-stage tech startups in francophone Africa, aims to empower African entrepreneurs, particularly women and youth, to innovate and create sustainable solutions for essential services like healthcare and education.[1]
Top investors like the European Investment Bank (EIB), Africa Development Bank (AfDB), and Proparco support the Janngo Capital Startup Fund, which receives funding from the World Bank, Caisse des Dépôts et Consignations (CDC), and the KFW, as well as a €10 million ($10.8 million) first loss mechanism from the European Commission through the Boost Africa initiative.
With a target size of $65 million, Janngo Capital Startup Fund is poised to support approximately 25 startups, fostering innovation and economic growth across the continent.
The fund is managed by Smart Capital, a company authorized by the Financial Market Council (CMF) and mandated by the Tunisian government to lead out its national Startup Tunisia program.