Ventures Platform, a pan-African venture capital firm that supports the next generation of African technology entrepreneurs, closed its early-stage and international fund at $46 million.
This not only exceeds the original $40 million goal, but new participation from international investors as well. The new fund will allow follow-on investments for portfolio companies up to series A and will allow Ventures Platform to increase its commitment to supporting a cohort of category-leading start-ups across Africa.
Ventures Platform has also created a cutting-edge “platform and networks” practice that will offer its portfolio companies scalable, top-notch post-investment support and value creation in an effort to better support the businesses it invests in. We rank among the biggest investors in technology in Africa.
“Similar to Ventures Platform, we think that the power of technology, combined with the scale and reach of entrepreneurship, can help solve some of the most pressing challenges of our time”. “We are delighted to partner with Ventures Platform to help emerging, talented entrepreneurs scale their innovations across the continent and beyond.”
Babacar Seck, senior investment officer for Venture Capital at Proparco, added that they were thrilled to partner with Ventures Platform in their journey backing early-stage African start-ups creating new markets and jobs, while accelerating the continent’s digitisation. “We feel that start-ups, technology and innovation are central to catalysing Africa’s economic potential. Ventures Platform’s portfolio companies have to-date gone on to raise more than $1 billion in follow-on funding.