HAVAC, a South African venture capital firm completes a $20 million fund for early tech investments in Africa
HAVAC, a South African venture capital firm, has announced the third and final closing of the HAVAC Universum Core African Fund, a US$20 million fund that will invest in early-stage technology startups in South, East, and West Africa.
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 cooperation with Universum Wealth and institutional investors from South Africa and the US, including Fireball Capital.
It will put money into African startups that use technology to solve real-world local, regional, and global problems and have a major impact in the markets they serve.
“The fund’s institutional investors add fresh international connections and capital. This, along with our African investment experience, results in a winning combination of local skills, networks, and international follow-on financing. “These are all key considerations when it comes to scaling organizations,” said Ian Lessem, managing partner of HAVAC.
The fund backs and invests in seed through Series A growth investments in early-stage companies.
HAVAC is an investment and advisory firm that invests in and supports early-stage, high-growth African technology companies with proven concepts and global prospects, offering high-return and impactful investment opportunities to intelligent individuals and institutions.
