Janngo Capital, an African venture capital firm focused on gender equality, has closed its $78 million fund, making it the continent’s largest tech-focused VC fund prioritizing gender parity. Oversubscribed by 20%, the fund attracted backing from influential investors, including the Mastercard Foundation Africa Growth Fund, U.S. International Development Finance Corporation (DFC), International Finance Corporation (IFC), and ANAVA, alongside anchor investors European Investment Bank (EIB) and African Development Bank (AfDB).
Janngo Capital invests in startups addressing significant market gaps while fostering green jobs, with a special focus on women and youth. To date, the firm has supported 21 companies across Africa, including Nigerian B2B marketplace Sabi and Tunisian SaaS firm Expensya. Impressively, 56% of Janngo’s portfolio companies are female-led, and 67% are Francophone, reflecting the firm’s commitment to inclusive economic growth.
“We are thrilled to announce the final closing of our second investment vehicle at $78 million, exceeding our initial target. This achievement speaks to the confidence of leading global and African investors in the potential of the African tech ecosystem,” said Fatoumata Bâ, Janngo Capital’s founder and executive chair. “Our mission is to back transformative startups using technology to drive development across Africa in a gender-equal way.”
Ambroise Fayolle, vice president of the EIB, emphasized the fund’s impact on economic resilience and female empowerment. “Supporting women-led ventures is critical to unlocking Africa’s full potential,” he said. “Janngo’s fund enables women-led businesses to innovate, create jobs, and contribute to sustainable growth across the continent.”
Samuel Akyianu, managing director of the Mastercard Foundation Africa Growth Fund, echoed this sentiment, stating, “For Africa to meet its development goals, we must find proactive ways to create opportunities for women and youth.”
With its latest funding, Janngo Capital solidifies its role as a key player in African tech innovation, providing critical support to companies that advance gender equity and economic opportunity across the continent.
