[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 13 sources · 1 days · First seen · Last updated

Ventures Platform Pan-African startup fund

Overview

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

The fund is designed to lead and catalyze pre-seed to Series A investments in technology-driven solutions. While maintaining a presence in Nigeria, the firm intends to expand its footprint across the continent to include markets such as Kenya, South Africa, Egypt, Côte d’Ivoire, Morocco, and Senegal. Key investment sectors include fintech, healthcare, and software-as-a-service. Managing partner Kola Aina has emphasized a focus on artificial intelligence businesses capable of lowering operating costs or enabling new, scalable business models within African markets.

Backing for the fund includes new institutional investors such as the European Bank for Reconstruction and Development, Norway’s Norfund, Alphatron, and the Ashesi University Foundation. Returning investors include the International Finance Corporation, Standard Bank, British International Investment, Proparco, and Nigeria’s iDICE program.

Entities

Bank of America · International Finance Corporation · Kola Aina · Reinsurance Group of America · Norfund

Timeline

  1. 16 days ago

    [BUSINESS] 11 sources
    Ventures Platform raises $84 million for Pan-African Fund II

    Ventures Platform has raised an oversubscribed $84 million for its second Pan-African fund to back early-stage technology startups across the continent, including fintech and AI-driven solutions.

  2. 16 days ago

    [BUSINESS] 2 sources
    FGV Capital closes oversubscribed $35 million Fund II

    FGV Capital has closed an oversubscribed $35 million Fund II, exceeding its $25 million target to invest in early-stage fintech and AI companies with support from major institutional backers.

Sources

africancio.com · bitcoinke.io · bizwatchnigeria.ng · digitalchew.com · ecofinagency.com · financialfortunemedia.com · hedgeco.net · investorsking.com · pulse2.com · techarena.co.ke · techinafrica.com · techlabari.com · thecooperator.news

This summary has been updated 1 time: see revision history