Investor Profile: HAVAIC — Thesis, Cheque Size & How to Apply

HAVAIC is a Cape Town based venture capital firm backing high growth African technology startups with global potential. Founded in 2015, it describes its approach as local innovation with global elevation: find African teams solving real problems, then help them sell into international markets.

Thesis

HAVAIC invests in high growth and impactful African tech startups with global potential. Its official site says its funds target companies with new technologies, processes or products, led by teams it can support over a patient horizon. The firm states a targeted annual investment return of more than 30%, and presents itself as an active strategic investor rather than a passive shareholder. Pre-investment engagement is used to de-risk a deal, and post-investment involvement is used to position a company for local and international growth and a profitable exit.

Sectors and stages

HAVAIC focuses on post-revenue, early stage technology companies, from seed stage through Series A and Series B. Its stated hunting ground is South Africa, Kenya and Nigeria, with portfolio companies selling far beyond those home markets. Sector coverage includes fintech, data analytics, communications platforms, digital marketplaces and health technology, reflecting a thesis that African-built products can compete globally rather than only locally.

Fund size and cheque size

HAVAIC has raised three venture funds. Fund 1, launched in 2016, raised $6 million. Fund 2, launched in 2020, secured $20 million. Its latest vehicle, African Innovation Fund 3, launched in 2024, is targeting $50 million for around 15 investments. Reporting in 2025 put total capital raised across the three funds at over $100 million. A standard cheque size is not publicly disclosed, so founders should not assume a fixed ticket from these fund totals.

Notable portfolio

HAVAIC reported a 23-strong portfolio of African technology startups in 2025. Its best known outcomes include RapidDeploy, sold to United States listed Motorola Solutions, and hearX Group, which merged with Eargo to form LXE Hearing. Other portfolio names include AURA, Talk360, Sportable, NjiaPay, SwiftVEE, Entersekt, SAPay and RNR App.

Partners and team

Ian Lessem is managing partner at HAVAIC. Institutional backing for African Innovation Fund 3 has included Universum Wealth, the SA SME Fund, Sanlam Multi-Manager and Fireball Capital, alongside local and international family offices. The firm has also reported investment support from E Squared.

Programs, credits and perks

HAVAIC does not run a public accelerator cohort or a published credits programme, and founders should not expect a standard perks package. Its stated value add is strategic advisory support, underpinned by investment experience and international reach, plus help with positioning for growth and exit.

How to apply for funding from HAVAIC

No public application portal for HAVAIC was verified at the time of writing. Founders should approach the firm only through its official site, havaic.com, using the invest and network routes published there, with a clear account of revenue, traction and international ambition. Because HAVAIC targets post-revenue companies, a pitch should lead with customers, revenue and unit economics, not only with product vision.