Vienna-based Speedinvest backs early-stage startups in the Middle East, Africa and Europe that provide access to basic goods, health and financial services, as well as climate and AI-based solutions.
Its first Africa-specific fund secured a €40 million ($46 million) anchor investment from the European Investment Bank. Speedinvest is looking to raise €200 million to invest in the digitization of key services and identify technologies that could be suitable for Europe. A third of the fund’s capital will be invested in women-led or women-focused businesses.
“In a world of fragmentation, we are building bridges,” said EIB’s Karl Nehammer.
Africa expansion
Speedinvest launched in 2011 with a €10 million fund for European startups. It closed its fourth Europe-focused fund at €350 million in 2024, along with €250 million in follow-on investment capital. The firm, acknowledging a challenging environment for exits, particularly for early-stage VC firms, secured €60 million for two continuation vehicles (see, “Restive LPs look to secondaries and creative exits to recoup capital“).
Its Africa-focused fund builds on its portfolio of nine investments on the continent, which includes Nigeria-based vehicle financing and mobility company Moove. Anda in Angola provides electric vehicles under a “drive to own” model. Also: Kenya-based logistics company Leta, Ghana-based business management and embedded financing startup Oze, and digital payments company Julaya from Côte d’Ivoire.
