June 27

Aris-Based VC Breega Hits First Close of $75 Million Africa Fund to Back Pre-seed and Seed Startups

By Tage Kene-Okafor

Paris-based VC firm Breega has observed Africa’s tech ecosystem mature over the years. From receiving less than a billion dollars in venture capital per year to a record-high $6 billion, there’s also been an increase in high-growth companies, from one unicorn to seven within the span of three years.

Now the VC wants to put some of its own money behind what it sees, with a $75 million fund to invest in early-stage startups in Africa.

Photo courtesy of Lagos Techie.

Source: TechCrunch (link opens in a new window)

startups, venture capital