Grace Ashiru
Paris-based venture capital firm Breega has achieved the first close of its latest fund, securing approximately 70% of its targeted USD 75 million. Since its debut in the VC industry in 2015, Breega has successfully completed fundraising for four funds: an initial seed fund of EUR 45 million, a second seed fund of EUR 110 million, a first venture fund of EUR 106 million, and a second venture fund of EUR 250 million. In under ten years, this French investor has amassed a portfolio comprising over 100 startups across 15 countries, with total assets under management reaching USD 700 million.
Breega’s sixth fund, the Africa Seed I, marks its first investment focus outside of Europe. The launch of this fund aligns with the opening of new offices in Lagos and Cape Town, establishing a significant presence in two vital centers of Africa’s technological landscape. These new locations complement Breega’s existing offices in Paris, London, and Barcelona, enhancing its footprint throughout the EMEA region.
Breega, an Africa-focused venture capital firm, plans to invest between USD 100,000 and USD 2 million in startups across the Big Four African markets—Nigeria, Egypt, South Africa, and Kenya—as well as Francophone African markets, including Morocco, Senegal, Ivory Coast, Cameroon, and the Democratic Republic of Congo (DRC). The firm has already backed nine startups, such as Numida, Hohm Energy, Socium, Klasha, Kwara, Coachbit, and Sava. Breega aims to make at least 40 investments from this first fund.
