The Board of Directors of the African Development Bank Group (AfDB) has approved an investment of EUR6.5 million (US$7.5 million) in the Saviu II fund to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank Group will provide €4.5 million (US$5.2 million) in equity investment and an additional €2 million (US$2.3 million) as a first-loss risk-sharing tranche on behalf of the European Commission through the Boost Africa Programme. This support will allow the Saviu II fund to prioritize startups with strong technological or digital capabilities. Saviu II, the second fund launched by Saviu Partners, intends to invest between €500,000 and €3 million in around 20 technology or tech-focused B2B startups, mainly at the seed stage or during their first institutional fundraising round.

The Saviu II venture capital fund plans to allocate at least 60% of its investments to startups in French-speaking countries of West and Central Africa, including Côte d’Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso, and Mali. The fund may also co-invest in high-potential technology companies in East Africa, particularly those with strong teams and business models that plan to expand into Francophone West African markets and build a significant presence there. Additionally, the fund will set aside a dedicated portion for pre-seed investments, focusing mainly on minority equity stakes. These investments will typically be made alongside venture studios, incubators, or other partners within the startup ecosystem.