African ‘gender equal’ VC Janngo Capital closes second fund at $78M
- Janngo Capital closed its second fund at €73 million, 20% more than its initial target.
- The first close of the fund was marked at €34 million in 2022.
- Key investors include the African Development Bank Group and the European Investment Bank.
Janngo Capital's approach to investing in female-led startups and its commitment to increasing local capital participation is commendable. However, the challenge remains in attracting more local institutional investors to create a more robust venture capital ecosystem in Africa. The firm's focus on diverse sectors and founders could set a precedent for future investments in the region.
