The HAVAÍC Universum Core African Fund Achieves its Second Close
Following a successful 2020 comprising eight new investments and three international exits, African focused venture capital (VC) investor HAVAÍC has announced the launch of its newest fund.
With a track record for investing in, supporting, internationalising, and ultimately exiting, early-stage high growth African technology companies, HAVAÍC’s Universum Core African Fund has now achieved its second close.
The Fund is a joint venture (JV) between HAVAÍC and Universum Wealth. HAVAÍC has a proven niche for investing in African technology enabled businesses and supporting their growth both locally and into international markets. Universum Wealth is an international investment management firm with deep experience in both listed and private markets.
Speaking about the JV, Jonathan Sieff, Managing Partner at Universum Wealth said, “Private markets are an important source of value and diversification for our clients. We have worked with the HAVAÍC team for several years and are delighted to partner with them on their Pan-African Fund. HAVAÍC are exceptionally well-networked in the African VC space and have a proven ability to source compelling investment opportunities. They subsequently apply their strategic insights and deep understanding of best practice to deliver amazing value to the companies they have invested in and are increasingly demonstrating how their unique approach delivers favourable exits for their companies and our clients. We are delighted to continue to build our partnership with HAVAÍC and view the Fund as an exciting opportunity for our clients, Universum Wealth and other investors.”
HAVAÍC, whose portfolio companies provide technology enabled solutions for close to half a million customers in over 180 countries around the world, provide investment and strategic support to post seed, pre–Series B, African technology startups. The Fund allows both South African and international investors to invest into VC investments alongside local and international institutional investors that they otherwise would not have access to.
Ian Lessem, Managing Partner at HAVAÍC says, “I am buoyed by the results from the Fund’s second close and the interest shown by local and international investors supporting the Fund JV between HAVAÍC and Universum Wealth. It is also gratifying to see the majority of funding commitments coming from international investors. This really speaks volumes for how VC in Africa is an asset class being noticed by international investors, who contribute not only foreign investment into our local economies but give our markets exposure to their international networks as well.”
Following a successful Fund first close in 2020, and having already added several investments to the Fund, a third and final close of the Fund targeting up to USD20 million is expected later this year.
With a portfolio and pipeline that continues to deliver, together with its JV partner Universum Wealth, HAVAÍC is well placed to remain one of the continent’s most active early-stage tech investors achieving international success.
HAVAÍC is an investment and advisory firm that specialises in investing and supporting early-stage, high-growth post-revenue African businesses driven by technology with global prospects. As a complementary offering, HAVAÍC provides corporate advisory and capital raising services to its portfolio companies as well as emerging, internationally scalable businesses.
To optimally support our investments, HAVAÍC is run and operated by partners with extensive local and international experience (raising capital, M&A and strategic analysis), providing personalised and bespoke transactional expertise and strategic advice. Our portfolio companies retain their independence and are encouraged to maintain their unique cultures. We are deeply invested in our ventures, ensuring greater commitment and accountability.