Transaction Summary
Saviu Ventures announced the sale of its 22% stake in Lapaire Glasses Kenya Limited (Lapaire), a pan-African eyewear company, to Creadev, a global investment firm backed by the Mulliez family. Lapaire is an optical retail chain with over 80 stores across Francophone West Africa and East Africa. It provides affordable eyeglasses and free eye tests to low and middle-income consumers while leveraging a tech-enabled model for efficient customer acquisition and supply chain management. Saviu Ventures first invested in Lapaire in 2018 during an undisclosed pre-seed round, followed by a $200,000 seed round later that year and another undisclosed seed round in 2019 through its €10 million ($10.4 million) Saviu I fund. This fund, launched in 2018, is sector-agnostic and invests from seed to Series A stages in African early-stage startups, with a strong focus on Francophone Africa. The exit marks a significant return on investment for Saviu, achieving "several times"
