An African venture capital firm positioning as a long-term investor in startups from their early stages towards maturity has raised $78 million for its next investment fund. Janngo Capital, founded by Senegalese investor Fatoumata Ba, raised the fund through a range of equity investments over the last half decade. A boom in the number of African investors writing million-dollar checks to African entrepreneurs is a sign of the ecosystem’s maturity. With boots on the ground, these funders have the right vantage point to distinguish value from hype and allocate capital where it is most needed.
SEMAFOR
