Senegal's entrepreneurial scene has changed dramatically in recent years, with the rise of new startups across various industries. This evolution demonstrates the country's dedication to promoting innovation, harnessing its human resources, and capitalizing on technological developments to achieve economic growth and social progress. The entrepreneurs' increased preference for venture capital as a source of investment has been a key driver of this transition. Within this dynamic environment, venture capital firms have made a significant impact on the trajectory of new businesses and the growth of Senegal's entrepreneurial ecosystem. In this article, we have compiled a comprehensive list of top VC Funds and Angel Investors in Senegal that can provide you with the capital and support to help you succeed!
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Venture Capitalist Funds in Senegal
The venture capital firms below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Year of Inception: 2019
Country: Benin, Ivory Coast, Senegal, Togo
Stage: Seed, Series A
Focus: Sector Agnostic
Investment Range: up to $250,000
Notable Portfolio: Lengo AI, Masewa, Qualipharm
Address: Sotrac Mermoz, PG5C+XVJ, Dakar, Senegal
Noru Capital is a well-known venture capital firm that makes strategic investments and provides unrivaled assistance to growing entrepreneurs, helping them to achieve long-term growth and worldwide recognition through specialized coaching and financial backing.
Year of Inception: 2021
Country: Francophone Africa
Stage: Seed, Series A
Focus: Sector Agnostic
Investment Range: up to $500,000
Notable Portfolio: Woluma, Kwely, Proxalys, Genimi
Address: Building Le Thiargane 9th floor, Mermoz Place OMVS, Police School Housing Estate, BP 15 814 Dakar-Fann, Dakar, Senegal
Haske Ventures is committed to revolutionizing the startup scene in Francophone Africa by offering complete assistance and bridge finance to entrepreneurs, facilitating a smooth transition from ideation to growth-stage enterprises. With a staff well-steeped in the region's economic growth requirements and a dedication to establishing scalable, sustainable, and successful enterprises, Haske Ventures serves as a catalyst for entrepreneurial success in Francophone Africa.
Year of Inception: 2016
Country: Senegal, Gambia
Stage: Seed, Series A
Focus: Sector Agnostic
Investment Range: $80,000 - $500,000
Notable Portfolio: Subito, Fruital, Fa Confection, Fruits & Berries
Address: Dakar, Mermoz Pyrotechnics, Rue MZ 68, Dakar, Senegal
Teranga Capital is a pioneering investment firm that specializes in offering innovative financing options to Senegalese and Gambian entrepreneurs and small and medium-sized companies. Dedicated to supporting entrepreneurial growth and tackling the issues of long-term finance and skills, Teranga Capital provides individual coaching, technical help, and access to a network to high-potential enterprises in a variety of industries and geographies.
Year of Inception: 2016
Countries: Francophone Africa (70% Cote d’Ivoire and Senegal)
Stage: Series A, Series B
Focus: Food Innovation, Financial Inclusion, Renewables & CleanTech, Essential Services (Education & Healthcare)
Investment Range: $1 million - $3 million
Notable Portfolio: -
Address: Immeuble Fatou, Route de l’Aéroport, Dakar, Sénégal
Brightmore Capital is a reputable investment management and advising business with a strategic emphasis on Francophone West Africa. Brightmore Capital, backed by a varied team of experts, a strong network, and a dedication to creating excellent risk-adjusted returns, is well-positioned to contribute to West Africa's socioeconomic growth while adding value to its portfolio firms.
Year of Inception: 2006
Countries: West, Central and East Africa
Stage: Series A, Series B, Series C
Focus: Sector Agnostic
Investment Range: $5 million - $20 million
Notable Portfolio: Deep Drilling Company, Elton, Axis Pensions, Soproicam
Address: PG2G+MJ8, Rue FN 11, Dakar, Senegal
AFIG Funds is a premier private equity fund manager committed to creating long-term growth and profitability in high-potential African firms. AFIG Funds, with a proven track record of developing regional champions and a focus on value creation, serves as a catalyst for economic growth and prosperity across Africa.
Angel Investors in Senegal
Angel investors may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Year of Inception: 2019
Countries: Worldwide
Stage: Pre Seed, Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
Angel Match is a comprehensive database of over 90,000 investors that helps businesses find the proper backers by categorizing them by investment focus, geography, stage, and kind. With a focus on simplifying the investor discovery process, Angel Match provides a unified platform for entrepreneurs to engage with potential backers, enabling efficient and targeted investment outreach.
Year of Inception: 2018
Countries: Benin, Burkina Faso, Côte D'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo
Stage: Pre Seed, Seed, Series A
Focus: Technology
Notable Portfolio: Coliba
Dakar Network Angels (DNA) is a renowned angel network established in Senegal that focuses on investing in early-stage enterprises with strong growth potential throughout WAEMU countries. DNA's purpose is to bridge the resource gap for businesses in French-speaking Africa by providing seed fund investments, mentorship, and experience to support entrepreneurial success in the area.
Closing Thoughts on VCs and Angel Investors in Senegal
Senegal's flourishing startup ecosystem demonstrates the country's entrepreneurial spirit and dedication to using innovation as a driver for economic growth. Venture capital firms are central to this transformative journey, with their strategic investments and unwavering support helping to nurture the growth and sustainability of startups, drive job creation, and foster an innovative culture that is poised to shape Senegal's economic landscape for years to come.
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Frequently Asked Questions on VCs and Angel Investors in Senegal
How do venture capital firms evaluate Senegalese startups?
Investors assess market potential, team capabilities, innovation capacity, and regional scalability. Key evaluation metrics include revenue traction, market validation, customer acquisition costs, and growth strategies, particularly in sectors like fintech, agtech, and digital solutions.
What investment stages do Senegalese VCs typically focus on?
The funding landscape covers seed through Series A, with local VCs predominantly focusing on early-stage investments (pre-seed to seed). International impact investors and regional funds often participate in growth rounds, especially in sectors like renewable energy, digital platforms, and e-commerce.
How can entrepreneurs connect with angel investors in Senegal?
Founders can access investors through CTIC Dakar, local accelerators, angel networks, pitch competitions, and innovation hubs. Key networking opportunities include Dakar's tech ecosystem events, startup summits, and Francophone Africa investor conferences.
What are typical investment ticket sizes in Senegal's VC landscape?
Angel investments generally range from XOF 5 million to XOF 25 million, while seed rounds typically fall between XOF 25 million and XOF 100 million. Series A investments often start at XOF 250 million, with growth-stage rounds reaching up to XOF 1 billion.
What support beyond capital do Senegalese VCs and angels provide?
Investors offer strategic mentorship, operational expertise, market access, and regional networking. They assist with talent recruitment, regulatory navigation, pan-African expansion, and follow-on funding opportunities, leveraging Senegal's position as a growing West African startup hub.
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