Cape Town’s HAVAÍC Secures $25M Second Close for Next Wave of African Tech Innovation
HAVAÍC, a prominent venture capital firm headquartered in Cape Town, has successfully announced the second close of its African Innovation Fund 3, securing an additional $25 million in fresh capital commitments. This significant injection of funds propels the firm closer to its $50 million target for the fund, specifically designed to empower Africa-born technology startups poised for global expansion and impact. This financial milestone reinforces confidence in the continent’s burgeoning tech ecosystem and its potential to foster world-class companies.
Driving Investment and Impact in African Entrepreneurship
The latest funding round for HAVAÍC’s African Innovation Fund 3 was notably spearheaded by Sanlam Multi-Manager, marking a pivotal entry for the asset management giant into South Africa’s dynamic venture capital landscape. This strategic investment from such a significant player underscores the increasing mainstream recognition of VC as a vital component of economic growth and innovation on the continent. Furthermore, the round saw renewed financial commitments from existing, long-term partners, including Fireball Capital and the SA SME Fund. Their continued backing serves as a strong testament to HAVAÍC’s proven track record, not only in identifying high-potential ventures but also in consistently delivering robust returns and demonstrating exceptional deal-making capabilities within the African tech space. Ian Lessem, Managing Partner at HAVAÍC, commented on this achievement, stating, “Welcoming Sanlam Multi-Manager into our Fund 3, along with added commitments from the SA SME Fund and Fireball Capital, is a testament to our track record for not only delivering leading returns by supporting African-born businesses, but also creating meaningful social and economic change through our investments.” He emphasized the collective ambition, adding, “Together, we can continue supporting our continent’s dynamic tech entrepreneurial landscape.”
This substantial capital infusion empowers HAVAÍC to further scale its efforts in nurturing promising African tech companies. By investing in innovative solutions developed on the continent, the firm is not only driving economic value but also contributing significantly to job creation and technological advancement across Africa. The strengthened partnerships reflect a shared vision for Africa’s digital future, positioning HAVAÍC at the forefront of the continent’s venture capital scene.
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