The African Development Bank (AfDB) has approved a US$7.1 million investment in Saviu II, a venture capital fund focused on supporting underfinanced technology startups across Francophone West and Central Africa. The decision, confirmed by the Bank’s board on February 27, 2026, positions the AfDB as a limited partner in the fund, with US$4.9 million in equity and US$2.2 million in a first-loss tranche under the European Union’s Boost Africa programme.
Saviu II, managed by Saviu Partners, is the successor to Saviu I, a US$10.9 million fund launched in 2018 that backed 12 startups, 72 percent of which operated in Francophone countries. The new fund reached a first close of US$13.1 million in late 2023, supported by private entrepreneurs, family offices, and high-net-worth individuals, followed by a US$27.3 million second close in early 2025.
Development finance institutions such as Proparco and Triple Jump, alongside pan-African conglomerate AXIAN, joined the second close. The fund aims for a final size between US$32.7 million and US$54.5 million.
A key feature of Saviu II is its focus on underserved Francophone markets, which historically receive far less venture capital than Anglophone hubs such as Nigeria, Kenya, or South Africa. The fund plans to invest in roughly 20 business-to-business technology startups at seed to Series A stage, with ticket sizes ranging from US$545,000 to US$3.27 million. At least 60 percent of its commitments will target Francophone countries, including Côte d’Ivoire, Cameroon, Senegal, Benin, Togo, Burkina Faso, and Mali.
Targeted sectors span fintech, agritech, healthtech, edtech, logistics, and cleantech, reflecting the growing appetite for innovation across the region. Beyond capital provision, Saviu Partners offers operational support covering business development, talent recruitment, international expansion, and follow-on fundraising. Analysts note that such support is crucial in the CFA franc zone, where structural barriers, smaller deal sizes, regulatory fragmentation, and language constraints have historically limited investment flows.
More Read
The AfDB’s involvement in Saviu II aligns with its broader mandate to promote private sector development, youth employment, and digital transformation across Africa. The Bank’s participation in a first-loss structure under Boost Africa reduces downside risk for other investors, encouraging additional private co-investment. Boost Africa, jointly run with the European Investment Bank, has previously supported other venture funds, including Partech Africa and TLcom Capital. However, vehicles dedicated to Francophone Africa remain rare, giving Saviu II a distinctive geographic focus.
“The AfDB’s commitment will help close a critical funding gap for startups in Francophone markets,” said a spokesperson for Saviu Partners. “We are targeting scalable technology ventures that can drive economic growth, job creation, and digital innovation in regions that have historically been underserved by venture capital.”
Experts say Saviu II could serve as a model for mobilizing blended finance in Africa, combining public development capital with private sector resources to de-risk investments in emerging technology ecosystems. The combination of equity and first-loss guarantees provides early-stage startups with access to risk capital that is often unavailable through traditional channels.
More Read
Francophone Africa has witnessed growing interest from regional and global investors, but the volume of venture capital remains significantly lower than in Anglophone markets. Funds like Saviu II aim to bridge that gap, nurturing local entrepreneurship, supporting innovative solutions, and contributing to broader digital and economic transformation.
With the AfDB’s US$7.1 million stake, Saviu II is now positioned to deploy capital strategically across the region, providing both funding and technical support to promising startups. Observers say the fund’s operations could accelerate private sector development in Francophone Africa, helping the continent harness technology to drive inclusive growth and competitiveness in the global economy.
