Pan-African venture capital firm Janngo.africa Capital exceeded its initial €60 million target, closing its second funding round at €73 million.

Pan-African VC Janngo Capital has closed a second fund at an impressive $78 million

#Janngo Capital, a pan-African #VC firm founded and led by Fatoumata BA, has closed its second fund at an impressive €73 million ($78 million)—surpassing its initial target by 20%. This oversubscribed fund is a testament to the growing confidence in Africa’s burgeoning tech ecosystem.

Investors backing this fund include a mix of global and local institutions: the African Development Bank Group (AfDB), European Investment Bank (EIB), Mastercard Foundation Africa Growth Fund, Tunisian fund of funds ANAVA, the endowment fund of Ghana’s Ashesi University, the U.S. International Development Finance Corporation (DFC), and The World Bank‘s International Finance Corporation (IFC).

Janngo Capital is not just about capital—it’s about impact and inclusion. With a portfolio where 56% of the companies are female-founded or led, the firm is championing gender equality in tech investment. Notable successes include the Tunisian expense management platform Expensya, which delivered a remarkable 48% IRR upon its exit, and Nigeria’s B2B e-commerce platform Sabi, contributing to over $1 billion in annual gross merchandise volume.

Operating across key markets in Abidjan, Mauritius, Tunis, and Paris, Janngo Capital plans to invest between €150,000 to €5 million in startups spanning healthcare, logistics, financial services, retail, agritech, mobility, and the creator economy. With a strategy that blends solid returns with social impact, they’re setting new standards for venture capital in Africa.

The article on TechCrunch in the first comment.