An African venture capital firm positioning as a long-term investor in startups from their early stages towards maturity has raised $78 million for its next investment fund. Janngo Capital, founded by Senegalese investor Fatoumata Ba, raised the fund through a range of equity investments over the last half decade. A boom in the number of African investors writing million-dollar checks to African entrepreneurs is a sign of the ecosystem’s maturity. With boots on the ground, these funders have the right vantage point to distinguish value from hype and allocate capital where it is most needed.
