Janngo Capital, an African venture capital firm, has secured €73 million ($78 million) in its second funding round, exceeding its initial target of €60 million ($63 million). This achievement marks a significant milestone for the company, which aims to accelerate African entrepreneurship and drive job creation, particularly for youth and women.
Jango Capital focuses on leveraging technology and capital to build digital ecosystems in high-growth sectors, developing customer-centric and value-added services for African customers. This approach enables African SMEs to scale their enterprises, creating jobs and empowerment opportunities for youth and women. The firm has a strong commitment to gender diversity, with 56% of its portfolio comprising women-led businesses.
Founded by Fatoumata Bâ, Jango Capital emphasizes the importance of addressing the gender gap in Africa’s entrepreneurial ecosystem. Bâ highlights that Africa has the world’s highest rate of female entrepreneurship, yet only a tiny share of global VC funding flows to female founders. Janngo’s investments focus on diverse founders, early-stage VC, and sectors beyond fintech, demonstrating the firm’s commitment to impact investment.
Janngo Capital’s portfolio includes notable female-led enterprises, such as Nigeria’s B2B e-commerce platform, Sabi. The firm’s strategy extends beyond gender diversity, with investments strategically distributed across various sectors, including healthcare, financial services, agritech, and logistics. Janngo’s “hands-on” approach involves active collaboration with portfolio companies, providing support in reaching market fit, expanding into new regions, and building solid product foundations.
With a presence in Abidjan, Mauritius, Tunis, and Paris, Janngo aims to back 25-40 companies over the next five years, extending the fund’s reach beyond its original 25-company target. The firm provides investment sizes between €150,000 and €5 million, ensuring startups from Seed to Series B stages can access necessary support to scale. Notable exits include Tunisian expense management platform Expensya and Nigerian B2B e-commerce platform Sabi, demonstrating Janngo’s successful strategy.
In conclusion, Janngo Capital’s second funding round marks a significant achievement for the firm, solidifying its commitment to African entrepreneurship and gender diversity. With a focus on impact investment and a “hands-on” approach, Janngo is poised to continue supporting African SMEs and driving economic growth in the region.