Release date: 19 November 2020
Promoter – Financial Intermediary
JANNGO CAPITAL PARTNERS SASLocation
Description
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.
Objectives
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.
Sector(s)
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
EUR 10 million
Total cost (Approximate amount)
EUR 60 million
Environmental aspects
The fund's operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.
Procurement
Not applicable.
Status
Signed - 12/05/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).