Ventures Platform raises $84 million for Pan-African Fund II

venture capital startup funding Pan-African Fund II early-stage technology African innovation economy

Ventures Platform, a leading African seed-stage venture capital firm, has closed its second institutional fund, VP Pan-African Fund II, at $84 million. The fund was oversubscribed, exceeding its initial $75 million target despite a global slowdown in venture capital funding.

The fund includes new institutional investors such as the European Bank for Reconstruction and Development (EBRD), Norfund, Alphatron, and the Ashesi University Foundation. It also features returning investors like the International Finance Corporation (IFC), British International Investment (BII), and Nigeria’s iDICE program.

Ventures Platform intends to use the capital to lead and catalyze pre-seed to Series A investments across the continent, with a focus on markets including Nigeria, Kenya, South Africa, Egypt, Côte d’Ivoire, Morocco, and Senegal. The firm will target technology-driven solutions in sectors such as fintech, healthcare, and software-as-a-service, with a specific interest in how artificial intelligence can lower operating costs and enable scalable business models in African markets.