FMO approves investment in Partech fund

The Dutch entrepreneurial development bank, FMO has approved a €25 million investment in the Partech Africa Fund II.

The fund intends to focus on early-stage funding, providing €1 million to €15 million initial tickets to talented African teams that are using tech to address large emerging market opportunities.

Partech Africa Fund II is a generalist tech fund with target industries ranging from fintech to online and mobile consumer services, as well as mobility, supply chain services and digitisation of the informal economy.