ImpactAlpha, March 15 – Savannah Fund backs Africa-based tech startups “that create jobs and make an impact.” For its second fund, the Mauritius-based investment firm secured funding from the International Finance Corp. and the Women Entrepreneurs’ Finance Initiative, or We-Fi, which backs enterprises and fund managers supporting women entrepreneurs (see, “With billions as bait, development financiers seek to hook private investors on gender-lens investing”).
Savannah Fund launched in 2012 with a Kenya-based tech accelerator and now cuts seed and Series A stage checks of up to $500,000. Among its portfolio companies: Kenya-based Copia, an e-commerce platform for low-income and rural consumers; edtech startup Eneza Education; and logistics and package delivery company Sendy. All have female co-founders.
It has made seven investments from its second fund.