Kiara Suttner-Tromp highlights as the Venture Capitalist of HAVAÍC
HAVAIC Reaches Second Close of $25 Million in Third Fund
HAVAIC, a sector-agnostic venture capital firm based in Cape Town, has announced a second close of $25 million in its current fundraising round for its third fund. The fund targets early-stage, technology-enabled businesses in South Africa, Kenya, and Nigeria, focusing on real-world problem-solving.
Founded in late-2015 by Ian Lessem and Grant Rock, HAVAIC has grown to invest in around 25 companies to date. Its early funding came from the partners' capital and close networks, but the firm has since attracted high net worth individuals, family offices, local and international institutional investors, including US endowment funds, local pension funds, and blue chip corporates.
The firm works closely with its portfolio companies to establish a strong foundation for growth. This approach has attracted interest from new limited partners, particularly South African corporates investing for the first time. HAVAIC's reputation and track record from previous funds have made them often the first institutional investors on a company's capitalization table.
HAVAIC's portfolio companies service over 20 million customers in 180 countries. The firm's investments have attracted subsequent significant investment capital, and almost half of its portfolio's revenue is generated internationally.
Kiara Suttner-Tromp, a partner at HAVAIC, joined the firm in 2019. Suttner-Tromp previously worked for RisCura and KPMG. Fundraising for HAVAIC's third fund is currently ongoing, and the firm remains positive and on track with its fundraising goals in the current climate.
Despite the challenging fundraising environment, HAVAIC remains optimistic about the potential for technology-enabled businesses in Africa. The firm invests in and supports African technology startups with global prospects, focusing on the key regions of South Africa, Kenya, and Nigeria.
[1] Source: TechCabal, Disrupt Africa, Ventureburn, and HAVAIC's website.
- HAVAIC, a technology-focused venture capital firm, has secured $25 million from various investors for its third fund, showcasing the increasing interest in investing in early-stage, technology-enabled businesses across South Africa, Kenya, and Nigeria.
- Founders of innovative tech startups in Africa could potentially benefit from venture capital funding from HAVAIC, who not only invests, but also provides support to build a strong foundation for growth, making them often the first institutional investors on a company's capitalization table.
- With the ongoing fundraising for its third fund, HAVAIC continues to explore podcast interviews as a means to reach out to potential investors and discuss the potential of technology-driven investments in Africa, capitalizing on the growing interest in the sector among high net worth individuals, family offices, local and international institutional investors, and even US endowment funds.
