Paris-Based VC Breega Announces First Close Of Its $75M African Fund

Breega, a Paris-based venture capital firm, has announced the first close of its $75 million Africa-focused fund, designed to back pre-seed and seed-stage startups. 

Expanding Horizons With Local Presence

Breega’s new fund, “Africa Seed I,” marks its first foray outside Europe and aligns with opening two new offices in Lagos and Cape Town. 

These new locations join Breega’s existing offices in Paris, London, and Barcelona, enhancing its presence across the EMEA region. 

According to Ben Marrel, Breega’s co-founder and CEO, the firm’s approach is rooted in its “founders-for-founders” ethos, offering not just capital but also operational expertise from team members who have firsthand entrepreneurial experience.

“Our goal is to be the investors we wished we had while building our businesses,” he told TechCrunch.

Target Markets and Investment Strategy

The Africa Seed I fund aims to invest between $100,000 and $2 million in startups across key African markets, including Nigeria, Egypt, South Africa, Kenya, and Francophone countries such as Morocco and Senegal. 

Breega has already backed nine startups in Africa, including Numida, Hohm Energy, and Klasha, and plans to make at least 40 investments from this fund.

Breega’s strategy in Africa leverages its successful European playbook, focusing on creating value in underinvested markets.

By combining European experience with local insights, Breega aims to support startups that address the continent’s unique challenges while fostering international expansion.