Anglo-French VC firm Breega has announced the launch of a $75m fund dedicated to investing in early-stage startups across Africa. This initiative marks Breega’s first foray into the African market since its inception in 2015. The fund, Breega Africa Seed I, will be managed by Melvyn Lubega, co-founder of African digital education company Go1, and Tosin Faniro-Dada, former CEO of Endeavor in Nigeria. The fund aims to support startups in Nigeria, Egypt, South Africa, Kenya, Morocco, Senegal, Ivory Coast, Cameroon, and the Democratic Republic of Congo. Breega plans to make initial investments ranging from $100,000 to $2m in these companies. The VC firm has already started its investment activities, backing companies such as Numida, Socium, Klasha, Kwara, Coachbit, and Sava. Breega’s CEO, Ben Marrel, emphasized that supporting early-stage companies is crucial for creating sustainable startup ecosystems.

Venture Capital, Technology, Startup Ecosystem,Africa, Europe

Anglo-French VC Breega launches Africa fund to back early-stage startups