Paris-based venture capital firm Breega has marked a significant milestone with the first close of its Africa Seed I fund, securing approximately 70% of its targeted $75 million. This move represents Breega’s expansion beyond its European roots, signaling a strategic shift towards tapping into Africa’s burgeoning tech ecosystem.
Founded in 2015, Breega has swiftly established itself in the VC industry, raising funds across several stages including initial seed and venture funds. With over $700 million in assets under management and a portfolio spanning more than 100 startups across 15 countries, the firm has built a robust presence in the European tech scene.
The Africa Seed I fund not only marks Breega’s first investment focus outside of Europe but also underlines its commitment to harnessing Africa’s growing potential in technology and innovation. The firm’s decision to open offices in Lagos and Cape Town underscores its strategic approach to accessing key markets in Africa, known for their dynamic tech landscapes.
Breega’s expansion into Africa comes at a pivotal time when the continent’s tech ecosystem is gaining global attention for its rapid growth and innovation. By establishing a foothold in Lagos and Cape Town, alongside existing offices in Paris, London, and Barcelona, Breega aims to strengthen its presence across the EMEA region, leveraging local expertise and opportunities.
In conclusion, Breega’s launch of the Africa Seed I fund not only signifies its ambitious growth trajectory but also highlights its commitment to fostering innovation and entrepreneurship across continents. As the firm continues to expand its footprint in Africa, it is poised to play a pivotal role in shaping the future of tech investments in the region.
