The Board of Directors of the African Development Bank Group (AfDB) has approved a €6.5 million investment in the Saviu II fund, aimed at supporting technology start-ups in their seed phase and initial institutional fundraising, particularly in French-speaking Central and West Africa. The AfDB will contribute €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme. This investment will allow the Saviu II fund to prioritize companies with strong technological or digital components.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in approximately 20 technology or technology-oriented B2B start-ups. These start-ups will be in the seed phase or at the stage of their first institutional fundraising. The fund is committed to directing at least 60% of its investments to French-speaking countries in West and Central Africa, including Côte d’Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso, and Mali. The fund may also co-invest in promising technology companies in East Africa that have a solid team and business model, with a strategy to enter the French-speaking West African market.
In addition to its primary focus, Saviu II will allocate a portion of its funds to pre-seed investments, targeting minority equity stakes, typically in partnership with incubators, studios, or other ecosystem collaborators. This strategic focus aims to foster the growth of early-stage start-ups within the region.
Saviu Partners, founded in 2018, has extensive experience in supporting early-stage technology start-ups in French-speaking West and Central Africa. The company’s first investment vehicle, Saviu I, was launched with a €10 million capitalization and focused on seed and development-stage investments. Saviu I has invested in 12 start-ups, primarily in French-speaking West Africa, providing hands-on support in business development, recruitment, international expansion, and fundraising.
