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Summary sheet
- Services - Financial and insurance activities
Equity investment of up to EUR 10 million in junior tranche in Janngo Capital Startup Fund, a venture capital fund investing in technology start-ups primarily in West Africa with a focus on Ivory Coast.
The proposed operation concerns a junior tranche investment in Janngo Capital Startup Fund, a closed-end venture capital fund with a target size of EUR 60 million. The fund will be set up to support start-ups in the digital and technology sectors (high-tech companies) in sub-Saharan Africa, with a focus on West Africa. The Janngo team will seek to create value through an active management approach leveraging their entrepreneurial background to drive the growth and profitability of portfolio companies while building capacity in terms of business management, corporate governance as well as environmental and social standards. The fund will address a significant funding gap in the under-developed venture capital market in West Africa.
The fund's operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.
Not applicable.
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