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Paris-based VC Breega hits first close of $75M Africa fund to back pre-seed and seed startups
Paris-based VC Breega reaches first close of $75M Africa fund and opens two offices on the continent in Lagos and Cape Town.
Melvyn Lubega and Tosin Faniro-Dada spearhead Breega’s Africa fund, which received backing from institutions including Bpifrance and the Dutch entrepreneurial development bank, FMO. The Africa-focused VC firm has already backed nine startups, including Numida, Hohm Energy, Socium, Klasha, Kwara, Coachbit, and Sava, and aims to make at least 40 investments from this first fund. Tosin: Our focus is on industries that can have a transformative impact on addressing current and future challenges across the continent, especially with the expected growth in population, such as fintech, healthtech, proptech, logistics, and edtech.
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