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African Development Bank has approved a $7 million investment in Saviu II, a venture capital fund focused on early-stage technology startups in Francophone West and Central Africa.
The commitment, cleared on Feb. 27 in Abidjan, combines €4.5 million in equity with €2 million structured as a first loss tranche supported by the European Commission under the Boost Africa program. The initiative is run jointly by the African Development Bank and the European Investment Bank.
Bank officials say the structure is designed to ease investor concerns at a time when venture capital funding across Africa has cooled after a surge during the pandemic years. By absorbing part of the early risk, the first loss capital improves the fund’s appeal to private backers who may otherwise hesitate to enter smaller or less mature markets.
Saviu II is managed by Saviu Partners and plans to invest between €500,000 and €3 million in about 20 business-to-business technology startups. At least 60 percent of the capital will go to companies in French-speaking countries, including Côte d’Ivoire, Benin, Senegal, Togo, Burkina Faso, Mali and Cameroon.
The fund may also participate in deals in East Africa when startups show clear plans to expand into Francophone markets, reflecting growing cross-regional ties among African tech ecosystems.
Executives familiar with the strategy say the aim is to fill a financing gap that has long challenged founders operating outside Africa’s largest English-speaking hubs. While cities such as Lagos, Nairobi and Cape Town have attracted consistent investor attention, startups in Francophone markets often struggle to secure early institutional backing.
Saviu II also includes a pre-seed window designed to take minority stakes alongside venture studios, incubators and local partners. That segment targets companies still refining their products or business models but seeking capital to reach their first significant growth milestones.
Saviu Partners previously raised a €10 million fund in 2018 and invested in 12 startups across the region. The new vehicle is expected to build on that track record while expanding into additional sectors such as fintech, logistics, health technology and enterprise software.
