The Board of Directors of the African Development Bank Group has approved a €6.5 million investment in the Saviu II venture capital fund to expand access to financing for early-stage technology companies across Africa. The decision, taken at the Bank’s headquarters in Abidjan, is aimed at helping young tech start-ups overcome persistent funding gaps and scale from seed stage to their first institutional fundraising rounds, particularly in French-speaking West and Central Africa.
Under the agreement, the Bank will invest €4.5 million in equity in Saviu II. An additional €2 million will be provided as a first-loss coverage tranche on behalf of the European Commission through its Boost Africa Program. This blended finance structure is designed to reduce risk for other investors while encouraging stronger investment in ventures with significant digital and technological components.
Saviu II, managed by Saviu Partners, plans to invest between €500,000 and €3 million in approximately 20 technology-focused business-to-business start-ups. At least 60 percent of its capital will target companies based in francophone African markets, including Côte d’Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso, and Mali. The fund will also retain flexibility to co-invest in promising East African firms seeking expansion into French-speaking West Africa.
In addition to its core strategy, Saviu II will allocate part of its capital to pre-seed-stage investments. These smaller minority equity stakes will typically be made in collaboration with incubators, start-up studios, and ecosystem partners, addressing the shortage of capital available to very early-stage ventures.
Founded in 2018, Saviu Partners has developed a track record of supporting early-stage start-ups across francophone Africa. Its first fund, Saviu I, launched with €10 million in capital and invested in 12 companies, combining financial backing with operational support in areas such as business development and international expansion.
The African Development Bank’s commitment builds on previous institutional backing for Saviu II, including participation from development finance actors such as the Dutch Good Growth Fund, Proparco, and AXIAN Investment, helping the fund advance toward its broader fundraising targets.
