Breega Launches $75 Million Fund to Support African Startups
Paris-based venture capital firm Breega has launched a $75 million fund, dubbed "Breega Africa Seed I", to support startups in Africa.
The $75 million fund will be distributed across several regions based on their technological development. The main beneficiaries will be Nigeria, Egypt, South Africa, and Kenya, as well as several French-speaking African countries such as Morocco, Senegal, Côte d'Ivoire, Cameroon, and the Democratic Republic of the Congo, according to TechCrunch. Breega plans to invest between $100,000 and $2 million in startups from these countries.
This new fund is the sixth launched by Breega in 9 years of activity.
From left to right: Ben Marrel (co-founder and CEO of Breega), Tosin Faniro-Dada (partner), and Melvyn Lubega (partner). Image credits: Breega