Janngo Capital, a venture firm founded by Fotoumata Ba has raised £60 million fund. The company is one of the few female-founded and owned venture capital firms from the African continent.
Ba with the company is looking to invest 50% of the fund into women-founded/co-founded, owned and led businesses.
The venture capital firm also received €15 million from European Investment Bank (EIB) and €10.5 from the African Development Bank Group (AfDB) and Boost Africa last December.
“Janngo Capital Startup Fund plans to invest in startups that enable Africans to improve their access to essential goods and services and African small and medium businesses to improve their access to market and capital — and create sustainable jobs at scale, with a focus on women and youth,” said the firm is a statement.
Bâ explained that the fund, which targets 15%-30% ownership, is designed to back 25 companies over its lifetime. “The earlier we invest, the higher our ownership is likely to be as we generally plan to follow on,” she said.
