South Africa-based investment company HAVAIC will close its Universum Core African Fund. The fund is joint venture between the company and Universum Wealth. The final close of the fund later this year expects to attract funds worth $20 million, following a successful first close last year.
The company has also invested earlier in the African tech-related businesses and has bolstered their growth locally and inot international marketplaces. While, Universum Wealth is an investment management company which has catered private and listed companies. The company has secured many investments to its portfolio, including Kenya’s Tanda, Nigeria’s Kuda Bank and others.
HAVAIC is one of the vibrant early-stage tech investors in the world with a portfolio and pipeline that continues to deliver, together with its JV partner Universum Wealth. The company provide financial assistance to African tech startups, including series B and seed startups. Its portfolio companies deliver tech solutions across 180 nations.
Jonathan Sieff, managing partner at Universum Wealth, told the media, “Private markets are an important source of value and diversification for our clients. We have worked with the HAVAIC team for several years and are delighted to partner with them on their Pan-African Fund. HAVAIC are exceptionally well-networked in the African VC space and have a proven ability to source compelling investment opportunities. They subsequently apply their strategic insights and deep understanding of best practice to deliver amazing value to the companies they have invested in and are increasingly demonstrating how their unique approach delivers favourable exits for their companies and our clients. We are delighted to continue to build our partnership with HAVAIC and view the Fund as an exciting opportunity for our clients, Universum Wealth and other investors.”