Breega has named its new investment fund “Breega Africa Seed I”. Aimed at African start-ups in the pre-seed and seed stages, based in Nigeria, Egypt, South Africa, Kenya, Morocco, Senegal, Ivory Coast, Cameroon and the Democratic Republic of Congo (DRC), this investment vehicle mainly plans to support projects focused on sustainable development. More specifically, initiatives in agri-tech, ed-tech, e-health, fintech, insurtech, prop-tech (technologies for real estate) and logistics.
The “Breega Africa Seed I” fund, which is already attracting a lot of interest from entrepreneurs, will be managed by the new offices of the French venture capital company, in Lagos, Nigeria and Cape Town, South Africa. The amount of investments per start-up should vary between $100,000 and $2 million, said the company, which alone has $700 million in assets under management, and which invests in more than 100 startups across 15 countries.
Achieving a more sustainable future in Africa by 2030
“Today, Africa receives almost 1% of global funding. This is insufficient for a region of the world which is home to 18% of the planet’s population. This is a large funding gap to fill on a continent that is on the cusp of fully realizing its technological potential”noted Melvyn Lubega, entrepreneur at the origin of the unicorn Go1and who will be in charge of Breega’s new South African office.
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Overall, the objective is to respond to several challenges on the African continent, in particular those linked to poverty, inequalities, climate, environmental degradation, prosperity, peace and justice over the next few years. “It is important to achieve each of these goals, and each of their targets, by 2030”already indicated the United Nations (UN) in 2015, the date on which the 17 Sustainable Development Goals (SDGs) were set.
Inès Magoum
