European VC Launches €100M Fund for African Startups
Speedinvest is proving Africa isn't an afterthought with a dedicated €100 million fund to back innovative startups across the continent. After five years of European-based investments, the firm is now building local teams to support visionary African entrepreneurs.
A major European venture capital firm just made a €100 million bet on Africa's future, and it's bringing more than just money to the table.
Speedinvest, which has quietly invested in 13 African startups over the past five years, announced a new dedicated fund for Middle East and Africa. The firm isn't treating this as a side project. They're establishing local teams on the ground for the first time and committing to long-term partnerships with founders.
"Africa is not an afterthought for us," says Deepali Nangia, Partner at Speedinvest. The numbers back up that statement. The fund targets investments of €2 million to €5 million per company, with backing from heavyweight institutions including Qatar Investment Authority and the European Investment Bank.
Speedinvest has already supported companies like Moove, FairMoney, and Leta in Kenya. Now they're doubling down on what they see as Africa's secret weapon: its people.
The continent's young, growing population stands in stark contrast to aging populations in Europe and North America. Nangia calls this Africa's "demographic dividend," a wave of innovation waiting to happen.
The Ripple Effect
What excites Speedinvest most is how Africa leapfrogs old technology entirely. Just like the continent skipped landlines and went straight to mobile phones, African startups are building cutting-edge solutions without the burden of outdated infrastructure.
The firm focuses heavily on embedded finance, which makes up 50% of its portfolio, spanning health, logistics, and climate sectors. These aren't just African solutions for African problems. Speedinvest connects founders to its European network to build globally competitive companies.
The commitment goes beyond capital. Team members like Nangia and colleague Alvaro have spent significant time on the ground in Kenya, Morocco, and Egypt this year alone. Now they're hiring local talent and moving team members to Africa permanently.
This represents a shift in how global investors view African innovation: not as a risky bet, but as an essential part of the global tech ecosystem where the next generation of breakthrough companies will emerge.
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Based on reporting by Techpoint Africa
This story was written by BrightWire based on verified news reports.
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