Janngo Capital Successfully Closes $78 Million Fund to Boost Gender Equality in African Tech Ecosystem

Pan-African venture capital firm Janngo Capital has announced the successful closure of its second fund at $78 million, exceeding its initial target by 20%. The fundraising round attracted a mix of top-tier global and African institutional and private investors, reflecting confidence in Janngo's team and track record.

The firm's investment thesis focuses on delivering both strong financial returns and tangible impact, evidenced by its successful exits and its 56% women-led portfolio companies. New investors, including Mastercard Foundation Africa Growth Fund, DFC, IFC, and ANAVA, have joined the venture, further strengthening Janngo's position in the African tech ecosystem. Janngo Capital Startup Fund invests in technology startups across Africa, with a particular emphasis on empowering women and youth.

The firm's commitment to gender equality has been recognized, with a significant portion of its investments dedicated to companies founded, co-founded, or benefiting women. Through its investments, Janngo aims to facilitate access to essential goods and services, improve market and capital access for African SMEs, and create sustainable jobs at scale. The firm's portfolio comprises over 30 investments in 21 companies across 14 countries, with a focus on key sectors such as healthcare, logistics, financial services, retail, food & agri, mobility, and the creative industry. Notable investments include Sabi, a Nigerian soonicorn, which has experienced rapid growth and significant revenue.

Janngo Capital has also achieved a landmark exit with the successful sale of Expensya, a leading fintech company, with an impressive average Internal Rate of Return (IRR) of 48%. The sale to unicorn Medius marks one of the largest transactions in the MENA region. Expensya's expansion and revenue growth demonstrate the impact of Janngo's investments in the African tech space.