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Ventures Platform, an Africa-focused early-stage investor, has reached final close of its second institutional fund, VP Pan-African Fund II, at $84 million. The fund exceeded its original $75 million target.
New institutional investors in the fund include the European Bank for Reconstruction and Development (EBRD), Norfund, Alphatron and Ashesi University Foundation. A consortium of family offices also joined the final close.
They join existing investors from the first close, including Nigeria Investment in Digital and Creative Enterprises (iDICE), the International Finance Corporation, Standard Bank, British International Investment, Proparco through the EU-backed Choose Africa VC programme, Micro, Small & Medium Enterprises Development Agency (MSMEDA), AfricaGrow and Alder Tree Investment.
Kola Aina, managing partner at Ventures Platform, said: “This fund is ultimately not about the capital we’ve raised, but about the entrepreneurs we’re privileged to be able to back. Across Africa, we’re seeing a new generation of founders building enduring companies with greater technical depth, stronger governance, bigger ambition and a clear understanding of the markets they serve. These businesses are being built for resilience as much as growth, and we believe that positions them to create lasting value. We’re deeply grateful for the confidence of our investors and excited to partner with ambitious founders solving meaningful problems across the continent.”
Dirk Werner, managing director of equity at EBRD, said: “Innovation is increasingly shaping Africa’s economic future, yet venture capital remains underdeveloped relative to the scale of entrepreneurial activity across the continent. By investing in Ventures Platform Pan-African Fund II, we are helping to strengthen the market infrastructure that enables innovative businesses to access growth capital and scale their impact.”
Jerry Jansen, investment manager at Alphatron, added: “We are excited to be part of the Ventures Platform journey and to support its continued commitment to backing Africa’s most ambitious founders. We see tremendous potential in Africa’s technology ecosystem and look forward to working alongside the firm to help build enduring businesses, unlock new opportunities, and create lasting positive impact across the continent.”
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