NAIROBI, Kenya, Oct 31 – Pan-African venture capital firm Janngo Capital has announced the final closing of its second fund at $78 million, surpassing its initial target by 20 percent.
Backed by the European Investment Bank (EIB) and the African Development Bank (AfDB), the fund aims to accelerate African entrepreneurship and drive job creation, particularly for youth and women.
The fund is designed to expand access to early-stage equity financing for tech entrepreneurs across the continent.
Fatoumata Bâ, Janngo Capital’s founder and executive chair, noted that elite impact-driven investors from African and international institutions contributed to this success.
Other notable investors include the Mastercard Foundation Africa Growth Fund (MEDA), the U.S. International Development Finance Corporation (DFC), ANAVA (Smart Capital), and the International Finance Corporation (IFC).
Samuel Akyianu, Managing Director of the Mastercard Foundation Africa Growth Fund, emphasized that this fund will enhance the job-creation potential of African entrepreneurs.
“Creating secure and fulfilling jobs is essential for Africa’s economic growth,” he stated.
The DFC’s partnership with Janngo Capital aims to improve access to financial resources and increase job opportunities, particularly for women and youth.
In 2020, Janngo committed to gender equality by pledging up to 50 percent of investments in companies benefiting women.
Over the past six years, Janngo Capital has built a portfolio of over 30 investments in 14 countries, expanding into key sectors such as healthcare, logistics, financial services, retail, food and agriculture, mobility, and the creative industry.
