P1 Ventures announces first close of its second pan-African fund

P1 Ventures, the pan-African seed VC fund, has completed the first $25 million close of its second fund.

Founded in 2020, P1 Ventures invests across fintech, e-commerce, healthtech, SaaS and AI.

Since its launch, P1 Ventures has invested in 29 early-stage companies across 10 countries. This includes investments in Money Fellows in Egypt and Reliance Health in Nigeria, where P1 maintains a presence. The firm made its inaugural investment in Yassir, an Algerian super-app operating throughout Francophone Africa. Recently, Yassir announced a successful close of a $150 million Series B funding round. In a more recent development, P1 Ventures led the seed round for Gameball, a software company that gamifies loyalty and customer retention, serving an international client base in over 70 countries.

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