Signature(s)
Summary sheet
- Services - Financial and insurance activities
The proposed operation consists of an equity participation of up to EUR 12.5m in a venture capital fund targeting African technology startups. The Fund will have a focus on West Africa.
The proposed operation concerns a participation in the Janngo Capital Startup Fund, a closed-end venture capital fund with a target size of EUR 50m. The fund will be set up to support new startups in the digital and technology sectors (high-tech companies), with a main focus on Sub-Saharan Africa. The fund's strategy is to generate returns through an active hands-on approach of the Janngo team in the portfolio companies. 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's operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.
Not applicable.