Ventures Platform reaches $64m first close for Pan-African Fund II
The fund is targeting a final close of $75 million.
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Ventures Platform, an Africa-focused seed-stage investment firm, has announced the $64 million first close of its second fund, VP Pan-African Fund II. The fund is targeting a final close of $75 million.
Investors in the fund include the Nigeria Investment in Digital and Creative Enterprises (iDICE) programme, the International Finance Corporation, Standard Bank, British International Investment, Proparco, Egypt’s Micro, Small & Medium Enterprises Development Agency, and AfricaGrow.
Speaking on the close, Kola Aina, founding partner at Ventures Platform, said, “The backing we’ve received from a diverse group of blue-chip partners is a powerful endorsement of Africa’s place as the purest, most asymmetric source for non-consensus alpha and transformative impact. The continent’s innovation opportunity is boundless, the needs are immense, but realising its full impact demands smart contextual capital, post-investment value creation, and a commitment to de-risking groundbreaking market-creating innovations. With VP PAF II, we are broadening our reach and deepening our focus on discovering and empowering innovators that will solve chronic non-consumption across the continent.”
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