Breega, a prominent Paris-based venture capital firm, has announced the launch of its inaugural African fund, “Breega Africa Seed I.” This $75 million fund will focus on investing in early-stage high-growth startups across key African markets, including Nigeria, Egypt, South Africa, and Kenya, as well as several French-speaking countries.
Recognizing the immense potential of the African tech ecosystem, Breega aims to leverage its global expertise and deep industry knowledge to support the next generation of African entrepreneurs. The fund will prioritize investments in sectors with high growth potential and significant social impact, including agrotech, edtech, fintech, and healthtech, while aligning with the United Nations Sustainable Development Goals.
To effectively navigate the diverse African market, Breega will establish a strong local presence, with dedicated teams operating from offices in Nigeria and South Africa. This on-the-ground presence will enable the firm to foster deeper relationships with entrepreneurs, gain valuable insights into local market dynamics, and provide tailored support to portfolio companies.
Leading the fund are seasoned industry veterans Melvyn Lubega, co-founder of the African digital education unicorn Go1, and Tosin Faniro-Dada, former CEO of Endeavor Nigeria and founder of the Lagos Innovates startup incubator. This experienced leadership team brings a wealth of knowledge and expertise to the table, ensuring that Breega Africa Seed I can effectively identify and support the most promising early-stage ventures.
The launch of Breega Africa Seed I signifies a significant milestone in the evolution of the African venture capital landscape. By providing access to capital and expertise, the fund aims to empower African entrepreneurs to build world-class companies, address critical societal challenges, and drive sustainable economic growth across the continent.
