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Supporting the activities of Saviu Ventures for start-ups in West and Central Africa
Project
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Signature date
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Location
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Multi-country Africa, Central Africa, West Africa
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Financing tool
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Financing amount (Euro)
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6 000 000
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Customer
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Saviu II
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Type of customer
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Investment fund
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Country of headquarters
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Mauritius
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Project number
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IZZ1120
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Environmental and social ranking
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B
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has contributed €6 million of financing to the Saviu II seed fund, thereby enabling Saviu Ventures to support young start-ups in West and Central Africa, especially tech start-ups.
Client presentation
Saviu II is a seed fund managed by Saviu Ventures and is dedicated primarily to French-speaking West and Central Africa.
Founded in 2018, Saviu Ventures is managed by Benoit Delestre (Managing Partner), a former entrepreneur, Samuel Touboul (Managing Partner), an investment professional with 15 years of experience in venture capital and private equity, and Cynthia Mandjek (Principal). The team currently counts six investors and operators in Abidjan, Dakar and Paris.
Project description
Founded in 2018, Saviu Ventures is managed by Benoit Delestre (Managing Partner), a former entrepreneur, Samuel Touboul (Managing Partner), an investment professional with 15 years of experience in venture capital and private equity, and Cynthia Mandjek (Principal). The team currently counts six investors and operators in Abidjan, Dakar and Paris.
The project consists in Proparco’s participation in financing the Saviu II seed fund. This fund targets early stage companies (seed to pre-Series A), with tickets ranging between €500,000 and €3 million. It is a generalist fund, but does have a preference for tech companies in the sectors of FinTech, HealthTech, EdTech, CleanTech and E-commerce.
Saviu II will focus on a limited number of high-potential start-ups, supporting them in various areas, such as commercial development, recruitment, international expansion, and fundraising.
FISEA is supporting Saviu II through a €6 million investment.
Project impact
The expected impacts of this financing are as follows:
- 2,035 jobs supported over the next 5 years in the companies financed by the fund
- 20 start-ups supported across French-speaking West and Central Africa
The project will thereby contribute to the achievement of SDG 8 (Decent work and economic growth).