Ventures Platform secures $64M for Africa tech startups
Ventures Platform has secured $64 million in initial commitments for its second institutional fund, with the firm seeking a final total of $75 million to expand seed-stage financing and catalyze Series A rounds across African technology ventures. The Pan-African Fund II drew backing from the Nigeria Investment in Digital and Creative Enterprises program, International Finance Corporation, Standard Bank, British International Investment, and Proparco, with 70 percent of capital providers returning from the first fund.
Founding Partner Kola Aina said the vehicle will target startups addressing infrastructure deficits in fintech, health technology, agriculture technology, education technology, and artificial intelligence while extending operations into North Africa and francophone markets. Bank of Industry Managing Director Olasupo Olusi noted the federal government initiative aims to position Nigeria as a digital innovation center through equity investments in high-growth enterprises.
Since 2016, Ventures Platform has funded more than 90 companies, including Moniepoint, OmniRetail, and Remedial Health, with portfolio firms appearing on Financial Times and CNBC rankings for fastest-growing African businesses and leading fintech operations.
