Speedinvest Targets €100M Africa Fund for Startups

In Short

Speedinvest is raising up to €100 million to invest in African startups. The European venture capital firm says it will write €2 million to €5 million cheques for early-growth-stage companies.

What Happened

Speedinvest has launched a Middle East and Africa fund and says Africa is a core part of the strategy. Venture capital is money investors put into private startups in exchange for equity, meaning ownership.

According to Speedinvest leadership, the firm has already made 13 investments in Africa. Those include Moove and Fairmoney, plus Anda in Angola and Leta in Kenya.

The fund is backed by institutional investors including Qatar Investment Authority, Mubadala Investment Company, and the European Investment Bank. Speedinvest CEO and Managing Partner Oliver Holle said the firm plans to deploy “patient” capital, meaning it is willing to wait longer for outcomes like acquisitions or IPOs.

Speedinvest Partner Deepali Nangia said the target is more than €100 million and that the fund expects to invest €2 million to €5 million per company. The firm also said it plans to build a stronger on-the-ground presence in the region, after investing for more than five years without a local team.

Why It Matters

Africa’s funding market has tightened, and later-stage rounds are harder to close. A dedicated pool for early-growth deals could help startups bridge the gap between seed funding and bigger Series A and B rounds.

Local teams also matter for sourcing deals and supporting founders with hiring, partnerships, and follow-on fundraising. Speedinvest is positioning its European network and portfolio as a channel for commercial introductions and expansion support.

If the fund closes at the upper end of its target, it could become one of the larger Africa-focused vehicles from a European VC in this cycle.