JANNGO CAPITAL STARTUP FUND (EIB-20180892)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
PRIVATE ENTITY(IES)
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 13.57 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 12 million
Converted using 2019-03-26 exchange rate.
Project Cost (USD)
$ 56.54 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 50 million
Converted using 2019-03-26 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EIB website

Updated in EWS Mar 26, 2019

Disclosed by Bank Mar 18, 2019


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Project Description

The proposed operation concerns a participation in the Janngo Capital Startup Fund, a closed-end venture capital fund with a target size of EUR 50m. The fund will be set up to support new startups in the digital and technology sectors (high-tech companies), with a main focus on Sub-Saharan Africa. The fund's strategy is to generate returns through an active hands-on approach of the Janngo team in the portfolio companies. The Janngo team will seek to create value through an active management approach leveraging their entrepreneurial background to drive the growth and profitability of portfolio companies while building capacity in terms of business management, corporate governance as well as environmental and social standards.

The proposed operation consists of an equity participation of up to EUR 12.5m in a venture capital fund targeting African technology startups. The Fund will have a focus on West Africa.

 

Investment Description
  • European Investment Bank (EIB)
Contact Information

No contact information provided at the time of disclosure

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