South Africa-based VC firm HAVAÍC has announced the third and final close of the HAVAÍC Universum Core African Fund, a $20 million fund that will invest in early-stage technology companies in South, East, and West Africa.
The HAVAÍC Universum Core African Fund is its second pan-African investment fund, and its third and final close at $20 million comes in partnership with international investment management firm Universum Wealth, and institutional investors from South Africa and the United States that include Fireball Capital.
The VC firm says it will invest in startups born in Africa that use technology to solve real-world local, regional, and international challenges, and make an impact in the markets they serve. The fund invests in and supports early-stage, post-revenue seed investments up to later-stage growth Series A investments.
Since launching in 2020 under a joint venture with Universum Wealth, the fund has invested in several South African, Kenyan, and Nigerian technology startups.
The fund is on track to complete up to 25 investments over the next three years. A third of the funds have already been deployed into early-stage African technology companies in the fintech, e-health, and safe-tech industries, including AURA, Kuda, Crowdforce, Mobiz, CompariSure, Tanda, RecoMed, and hearX.
The Cape Town-headquartered HAVAÍC is an investment and advisory firm that invests in and supports early-stage, high-growth African technology businesses with proven concepts and global prospects, offering high return and impactful investment opportunities to sophisticated private and institutional investors.
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