Since entering the Venture Capital scene in 2015, Breega, a French based investment group has completed four full capital raises in four VC funds: a seed fund with €45 million capital, a second seed fund with a capital of €110 million, a venture fund with €106 million and a second venture fund boasting an impressive €250 million in capital raised.
In less than a decade of operation, the French Venture Capital Investment company, has built a portfolio of more than 100 start-ups across 15 countries, and has reached over $700 million in assets under management.
The “Africa Seed I” fund is Breega’s sixth fund created within nine years but is the first with a mandate for investment outside Europe. Its launch coincides with opening two new offices in Lagos and Cape Town, areas that are key hubs for Africa’s tech industry.
Ceo, Ben Marrel, has stated that the company’s DNA is all about backing founders where innovation thrives. Marrel notes that this approach, coupled with a dedicated scaling and portfolio support team, has propelled Breega to become one of the fastest-growing VCs in Europe. The intention is to replicate this success in Africa.
Marrel, commented, “Start-up ecosystems work like pyramids: they are only sustainable if the base, i.e. the early stage, is well financed. It is with this impact-driven mind-set that Breega is positioning itself as the first investor to back and support entrepreneurs from idea to impact.”
Breega has plans to invest up to $2 million in Tech start-ups across the main tech markets in Africa — Nigeria, Egypt, South Africa and Kenya — as well as investing in Francophone African markets, including Morocco, Senegal, Ivory Coast, Cameroon and the DRC. The Africa-focused VC firm has already backed nine start-ups, including Numida, Hohm Energy, Socium, Klasha, Kwara, Coachbit and Sava, and will be aiming to achieve a minimum of 40 Tech start-up investments from this first fund.
