Breega, a European venture capital firm, has launched its first Africa-focused fund, “Breega Africa Seed I”. This fund aims to become a leading investor for early-stage startups in Africa.
The fund, which has a total of $75 million, will target investments in various regions across Africa. These regions include Nigeria, Egypt, South Africa, and Kenya, along with several French-speaking African countries like Morocco, Senegal, Ivory Coast, Cameroon, and the Democratic Republic of Congo.
Breega aims to be the leading early-stage investor in Africa. It plans to achieve this by supporting promising founders with capital and valuable guidance.
The fund prioritizes high-impact sectors that align with the United Nations’ Sustainable Development Goals. These sectors include Fintech, Edtech and Healthtech, which can potentially create significant positive change in Africa.
Kolawole Olajide, CEO & co-founder of Sava, based in South Africa, said, “Breega invested when we didn’t have a product yet, so their early trust was key. With the invaluable support of the Scaling Team, not only have we now reached the commercialisation phase, but we’ve also defined our internal culture and processes, and established our brand. We never thought we’d receive so much help and support from a venture capital fund.”
