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Founded in 2012, Savannah Fund is a pioneering seed capital fund based in Nairobi, Kenya. It focuses on early-stage high-growth technology startups across Sub-Saharan Africa, particularly in the East African market. The firm aims to bridge the investment gap in early-stage and angel funding, providing essential capital and support to emerging entrepreneurs.
As one of the earliest venture capital firms in Africa, Savannah Fund has established itself as a key player in the region's investment landscape. The fund has a total asset under management (AUM) of $25 million, primarily through its second fund, which closed in March 2021. This fund is anchored by notable investors such as the International Finance Corporation (IFC) and the Draper family, among others.
Currently, Savannah Fund has invested in 43 companies, demonstrating its commitment to fostering innovation and entrepreneurship. The firm operates from its headquarters in Nairobi, with a strong presence in other Sub-Saharan countries, including Ghana, Uganda, and Nigeria. Over the years, Savannah Fund has played a significant role in shaping the African tech ecosystem, supporting startups that address local challenges and drive economic growth.
Savannah Fund invests between $25,000 and $1,000,000 in early-stage technology startups, with a strong emphasis on sectors such as fintech, logistics, SaaS, healthcare, and agtech. The firm specifically targets startups that exhibit high growth potential and aims to support women entrepreneurs and disruptive companies in these high-growth sectors.
The fund's investment strategy is designed to bridge the gap between angel investing and larger venture capital, providing not only capital but also mentorship and access to accelerator programs. Savannah Fund's accelerator program typically invests $25,000 for a 15% equity stake in startups, offering extensive mentorship and resources to help them scale effectively.
Geographically, Savannah Fund focuses on Sub-Saharan Africa, with a particular interest in countries like Kenya, Nigeria, Ghana, Uganda, Ethiopia, Zimbabwe, and South Africa. The firm seeks to identify and support innovative solutions that address local market needs, thereby contributing to the region's economic development.
Savannah Fund has built a diverse portfolio of 43 companies across various sectors. Notable portfolio companies include:
In addition to these companies, Savannah Fund has also invested in startups like Sendy, a logistics platform in Kenya, and FlexClub, a car subscription service in South Africa. The firm has a strong focus on supporting companies that are not only innovative but also have the potential to create significant social impact in their respective markets.
Mbwana Alliy: Managing Partner & Founder. Mbwana has extensive experience in the African tech ecosystem and has been instrumental in shaping the investment landscape in the region. He has a background in operations and investment, having worked with various startups and venture capital firms.
Paul Bragiel: Partner. Paul is a Silicon Valley-based co-founder who brings a cross-border network to Savannah Fund. His expertise in technology and entrepreneurship enhances the firm's ability to identify and support high-potential startups.
Malaika Judd: Principal. Malaika plays a key role in sourcing and evaluating investment opportunities. Her background in finance and technology equips her to assess the viability of startups in the fund's target sectors.
To pitch Savannah Fund, founders should visit their website at savannah.vc for detailed instructions. The firm prefers pitches that include a concise overview of the business model, market opportunity, and growth strategy. A well-structured pitch deck is essential, and founders should be prepared to discuss their financial projections and key performance indicators.
While Savannah Fund does not specify a formal application portal, they encourage direct outreach via email at press@savannah.vc. Founders can expect a response within a few weeks, depending on the volume of inquiries.
Warm introductions are highly valued, and founders are encouraged to connect with existing portfolio companies or industry contacts who can facilitate an introduction to the investment team.
Savannah Fund operates an accelerator program that has run multiple cohorts since its inception. This program typically invests $25,000 for a 15% equity stake in startups, providing them with mentorship and resources to help them grow. The accelerator has facilitated over 30 hours of mentoring from local and international experts, enhancing the support available to participating startups.
Additionally, Savannah Fund hosts events like Afrikoin, which focuses on innovations in financial services and mobile payments across Africa. These programs are designed to foster collaboration and knowledge sharing among entrepreneurs and industry leaders.
In March 2021, Savannah Fund successfully closed its second fund, raising $25 million to invest in early-stage technology startups across Sub-Saharan Africa. This fund is anchored by the International Finance Corporation (IFC) and the Draper family, among others.
Recently, Savannah Fund has been actively involved in hosting events such as Afrikoin, a fintech gathering that discusses innovations in financial services across Africa. The firm continues to publish insights on the African tech ecosystem through its blog, contributing to the discourse on investment trends and startup advice.
As of 2023, Savannah Fund has maintained a steady pace of investment, focusing on supporting women entrepreneurs and high-growth sectors. The firm has also run multiple cohorts of its accelerator program, providing mentorship and resources to emerging startups.
What are Savannah Fund's investment criteria?
Savannah Fund primarily invests in early-stage technology startups across Sub-Saharan Africa, focusing on sectors such as fintech, logistics, SaaS, healthcare, and agtech. The firm looks for startups that demonstrate high growth potential and innovative solutions to local challenges.
How can I apply or pitch to Savannah Fund?
Founders can pitch their startups by visiting Savannah Fund's website at savannah.vc. The firm encourages entrepreneurs to provide a clear overview of their business model, market opportunity, and growth strategy in their pitch.
What makes Savannah Fund different from other investors?
Savannah Fund distinguishes itself by its commitment to supporting women entrepreneurs and its focus on high-growth sectors in Africa. The firm provides not only capital but also mentorship and access to a global network, helping startups navigate the challenges of growth in the African market.
What is the geographic scope of Savannah Fund's investments?
The firm primarily invests in Sub-Saharan Africa, with a focus on countries such as Kenya, Nigeria, Ghana, Uganda, Ethiopia, Zimbabwe, and South Africa. This geographic focus allows Savannah Fund to tap into diverse markets and support local entrepreneurs.
What is the typical check size for investments?
Savannah Fund typically invests between $25,000 and $1,000,000 in early-stage startups. This range allows the firm to support a variety of companies at different stages of their growth journey.
What kind of support does Savannah Fund provide to portfolio companies?
In addition to financial investment, Savannah Fund offers mentorship, accelerator-style support, and access to a global network of industry experts. The firm emphasizes long-term relationships with its portfolio companies, helping them navigate growth challenges and scale effectively.
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