The African Development Bank Group (AfDB) has approved a €6.5 million ($7.6 million) investment in Saviu II, a venture capital fund dedicated to early-stage technology startups in Francophone West and Central Africa. The commitment, approved by the Bank’s board on 27 February, consists of €4.5 million in equity and a €2 million first-loss tranche provided on behalf of the European Commission under the Boost Africa programme. This blended financing structure is intended to de-risk the fund and attract additional private capital to the region.
Saviu II, managed by Saviu Partners, will focus on seed-stage and first institutional rounds, providing investments ranging from €500,000 to €3 million. The fund aims to support around 20 companies with strong digital or technological components, primarily in Côte d’Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso, and Mali, with at least 60% of commitments targeting these Francophone markets. It may also co-invest in East African startups expanding into French-speaking West Africa, while a dedicated pre-seed allocation will assist earlier-stage founders alongside incubators and ecosystem partners.
Building on the success of Saviu I, which launched in 2018 with €10 million in capital and invested in 12 startups across Francophone Africa, Saviu II reached a €12 million first close in 2023 and a €25 million second close in early 2025. Institutional investors include the Dutch Good Growth Fund (DGGF), Proparco, and AXIAN Investment, with a target final fund size of €30–50 million. Saviu Partners operates as a licensed VC manager under the Mauritius Financial Services Commission, making it one of the few fully regulated independent venture managers in Francophone West Africa. Current portfolio companies include Julaya, Rubyx, Waspito, Workpay, and Userguest, building on Saviu I’s earlier investments such as Anka, Lapaire, Zanifu, and Paps.
The Saviu II investment marks one of the first major venture commitments under the new AfDB president, Sidi Ould Tah, who succeeded Akinwumi Adesina. Tah brings experience from leading the Arab Bank for Economic Development in Africa and is overseeing a continuation of the Bank’s strategy to back private equity and venture funds in Africa. While previous fund commitments under the Bank’s limited partnership model have produced mixed results, the Saviu II structure—combining direct equity with concessional first-loss capital—reflects a calibrated approach to managing the high-risk nature of early-stage investment.
For Francophone West and Central Africa, regions historically underserved compared to anglophone hubs like Nigeria and Kenya, the AfDB’s involvement adds institutional credibility to a growing but still shallow venture ecosystem. By underwriting part of the downside risk, the Bank aims to make these frontier markets more attractive to commercial investors. While the new administration’s long-term venture strategy remains to be seen, the Saviu II commitment signals continuity and suggests that early-stage technology investment will remain a key component of the AfDB’s development toolkit.
