Launch Africa Ventures, an early-stage venture capital firm, has created the Mezzanine Impact Fund, which invests mezzanine growth capital in leading technology firms with strong ESG values.
Launch Africa Ventures, founded in July 2020 by Zachariah George and Janade du Plessis, with chairwoman Margaret O’Connor serving on the board, closed its first fund, Launch Africa Ventures Fund 1, in March 2022 at a cost of US$36.3 million. The fund attracted investments from 238 individual and institutional investors across 40 nations. Through that fund, 133 investments were made.
As part of its second fund, Fund II, the company has invested a total of US$4.3 million in 16 startups from across the continent. Launch Africa Ventures stated that it is still committed to “invest, grow and scale the continent’s top technology-driven ventures to become market leaders in their respective industries” through Fund II.
The Launch Africa Mezzanine Impact Fund, which it has since established, intends to give growth financing to technology firms in Africa and the GCC in order to unleash potential for M&A and market expansion, MBOs, and other growth initiatives.
“The mission of the Mezzanine Impact Fund is to ensure that we continue to build a generation of innovators who own their businesses commercially, so that equity remains in the hands of the founders, driving job creation and developing products that improve the quality of life of all Africans,” the company stated.
“We aim to support founders by pioneering a more tailored financial solution suitable to the African entrepreneurial ecosystem enabling growth and market opportunities for technology companies in Africa,” the company added.
Anthony Moore, a former managing director and head of investment banking at Goldman Sachs International (UK and Asia), has been named executive chairman by Launch Africa Ventures to oversee the fund. Moore intends to finance a portfolio of highly influential, fast-growing technology companies throughout Africa, with an emphasis on the Africa-GCC corridor, in collaboration with a recently formed debt solutions team.
In order to unlock scale for Africa’s most impactful firms, the Launch Africa Mezzanine Impact Fund will invest mezzanine growth capital into top technology companies that exhibit strong ESG principles across diverse sectors and yield measurable returns.
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