Breega announces $75M fund for African tech startups

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African Tech Fund

Paris-based investment firm, Breega, recently unveiled plans to establish a $75M Africa-focused fund to support early-stage tech startups in Africa. The fund targets startups specializing in fintech, edtech, healthtech, prop-tech, and SaaS-based ventures. The strategic move comes after a detailed examination of Africa’s tech landscape revealing a surge of rapidly growing firms. The goal is to close the financing gap, allowing these startups to fully unleash their potential.

Established in 2015, Breega has amassed four funds totaling $700 million over its five successful years. Their latest project—the sixth fund, uniquely targets the African markets. Named “The Africa Seed I” fund, Breega ventures to raise an additional $100 million for the project.

Breega’s $75M fund targets African startups

The firm is known for its decisive focus on tech-based startups, planning to use the fund to stimulate the growth of ambitious, promising African businesses.

In their strategy to amplify their reach, Breega opened two more offices in Lagos and Cape Town—Africa’s technological hotspots. This extends the firm’s territory across the EMEA region, consolidating its dominion in tech-startup financing. Breega also recently established two additional offices in Berlin and Stockholm, underscoring their commitment to foster global technological advancement.

Known as a ‘founders-for-founders’ fund, Breega invests at every phase from pre-seed to Series A. Their team of experienced professionals, mostly former founders, leverages their knowledge to effectively support entrepreneurs during the critical initial stages of a startup. The firm provides not only funding but also essential business insights and extensive industry networks.

The creation of the African fund remains a significant move for Breega. The firm’s strategy includes diversifying its investments across various African countries including Nigeria, Egypt, South Africa, Kenya, Morocco, Senegal, and the Ivory Coast. Breega intends to fund forty more startups through this new funding pool, spearheading investments during the early stages and offering continued support through a dedicated team.

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William Patel is the visionary founder and CEO of a pioneering tech company leading the charge in digital transformation. With a deep understanding of emerging technologies and a commitment to pushing boundaries, William has positioned his company at the forefront of innovation.