The third African-focused venture capital fund, HAVAÍC, has reached its first close of US$15 million. The fund aims to raise US$50 million. The South African firm works as a critical investor with Universum Wealth and the SA SME Fund.
Leading African venture capital manager HAVAÍC invests in and supports high-growth, early-stage African-born technology companies, helping them succeed both domestically and globally.
HAVAÍC headquarters is located in Cape Town. The firm’s track record for scaling African-born startups internationally is evident by the reach of its portfolio companies, which serve over 20 million customers in 190 countries worldwide. With the US$15 million first close of its new fund, the firm is earmarking 15 investments.
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Exploring the Impact of the African Innovation Fund
Universum Wealth and the SA SME Fund are the main investors in the African Innovation Fund 3. Other investors include family offices from around the world and within Africa. The fund will invest in startups in the seed to Series B stages.
The managing partner at HAVAÍC, Ian Lessem, said the company’s deepening relationship with institutional investors means it can support more African tech entrepreneurs in scaling into new markets and generating diversified revenue for reinvestment in Africa.
A thriving VC ecosystem translates into economic growth and the creation of skilled local jobs. They are proud to support positive change in Africa and beyond and appreciate their partners’ support of their vision.
Universum Wealth Endorses HAVAÍC’s investment Expertise
Jonathan Sieff, managing partner at Universum Wealth, expressed his firm’s admiration for HAVAÍC’s exceptional expertise and successful track record. Sieff stated they are impressed with HAVAÍC’s trademark expertise and proven ability to source compelling opportunities. He highlighted HAVAÍC’s unique capability to identify and capitalise on attractive investments, consistently yielding market-leading returns.
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Sieff’s praise for HAVAÍC’s investment understanding is a testament to the firm’s rigorous approach to sourcing and evaluating opportunities. By leveraging their extensive network and industry knowledge, HAVAÍC has established a reputation for delivering exceptional returns on investment.
Universum Wealth’s endorsement of HAVAÍC’s expertise is a significant vote of confidence, underscoring the firm’s position as a leading player in the investment landscape. As HAVAÍC continues to identify and capitalise on promising opportunities, its partnership with Universum Wealth is poised to drive even greater success in the future.
Supporting Ian and his team has been vital to their client offering. Alternative, uncorrelated assets enable their clients to sensibly diversify their portfolios and generate higher returns over chosen investment time horizons.