The third and final closing of the HAVAC Universum Core African Fund, a US$20 million fund that will invest in early-stage technology firms in South, East, and West Africa, has been announced by the South African venture capital firm HAVAC.
The HAVAC Universum Core African Fund is the company’s second pan-African investment fund, with a third and final closing of US$20 million in partnership with Universum Wealth, as well as institutional investors from South Africa and the United States, including Fireball Capital.
It will invest in African startups that employ technology to solve real-world local, regional, and worldwide problems and have a significant influence in the markets they serve.
“The institutional investors in the fund bring new international ties and capital to the table. This, along with our experience investing in Africa, creates a winning combination of local expertise, networks, and international follow-on finance. “When it comes to scaling enterprises, these are all critical aspects,” said Ian Lessem, managing partner of HAVAC.
The fund backs and invests in early-stage, post-revenue seed investments to Series A growth investments.
HAVAC is an investment and advising organization that invests in and supports early-stage, high-growth African technology enterprises with proven concepts and global prospects, providing sophisticated individual and institutional investors with high-return and impactful investment options.
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