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

Savannah Fund is one of sub-Saharan Africa's earliest technology seed funds. Its own site dates its investing on the continent to 2011, and it launched its first accelerator programme in Kenya in 2012, before converting fully to seed and Series A investing in 2016. From Nairobi roots, it now backs founders across East, West and Southern Africa.

Thesis: bridging Africa's early-stage gap

Savannah Fund exists to bridge the gap between angel money and institutional venture capital in Africa. Its model pairs capital with mentor networks and local technical assistance from the region and Silicon Valley. The firm tracks environmental, social and governance metrics across its portfolio and works to raise the profile of female founders.

Sectors, stages and fund size

The firm invests from seed to Series A in fintech, education, logistics and e-commerce, software-as-a-service, healthcare, agritech and innovation serving customers at the bottom of the pyramid. Its core markets are Kenya, Nigeria and South Africa, with expansion targets including Rwanda, Ethiopia, Uganda, Côte d'Ivoire and Ghana. Its second fund is $25 million, launched in 2021 and led by IFC and Draper, according to the firm's own site. Cheque sizes for that fund run from $50,000 to $1 million, with typical first cheques between $150,000 and $250,000.

Notable portfolio companies

Savannah Fund reports more than 25 portfolio companies across Africa. Its best-known names include Kenyan on-demand logistics company Sendy, Nigerian lending startup Lidya, identity management company Smile Identity, South African car-subscription company FlexClub, which also operates in Mexico, and South African agritech company Aerobotics, which has expanded to the United States. Its current homepage also features Knabu, RxALL, Hohm Energy, Oze and Kubik. Across its portfolio, companies raised $118 million in 2020 alone.

Partners and leads

The firm is led by managing partner Mbwana Alliy and general partner Paul Bragiel, alongside co-founder Erik Hersman, the founder of Ushahidi and of Nairobi's iHub. Around 46% of its portfolio companies have at least one female founder or a female chief executive, and several entrepreneurs-in-residence went on to found portfolio companies.

Programmes, support and perks

Savannah Fund began as an accelerator running small cohorts with mentorship and demo days, and it still runs internships in Kenya and Tanzania. It partners with WeFi to support female founders, and in 2016 it announced eSABU, a chief financial officer service and governance platform for African tech startups. No public credits programme is advertised; the value is mentorship, governance help and a Nairobi-to-Silicon-Valley network.

How to apply for funding from Savannah Fund

Historically, its accelerator cohorts accepted online applications followed by interviews, with teams expected to bring a prototype, early customers and revenue. The firm does not currently advertise an open application window on its homepage, so founders should monitor savannah.vc and approach the team directly through the firm's website, showing traction in one of its core markets and a credible path to scaling across African regions.