Leading African seed-stage fund Ventures Platform announced the final closing of its second institutional fund, VP Pan-African Fund II (VP PAF II), at US $84 million, surpassing its initial goal of US$75 million.
One of Africa’s top seed-stage venture capital firms, Ventures Platform finds and funds inventions that lead their respective categories, create new markets, and help them grow. By discovering businesses that solve non-consumption through market-creating technologies, the firm seeks to close infrastructure gaps and foster prosperity by removing obstacles to access and cutting delivery costs throughout the continent.
Raenest, Fez Delivery, LemFi, Moniepoint, OmniRetail, Paystack, PiggyVest, Remedial Health, SunFi, ThriveAgric, and Verto are among the companies in the portfolio.
The oversubscribed US$84 million Fund II, which closed just three years after Fund I and against a noticeably more cautious global venture backdrop, reflects growing institutional confidence in Africa’s innovation economy and in Ventures Platform’s ability to find and support exceptional founders from the very beginning of company building.
The European Bank for Reconstruction and Development (EBRD), Norfund, Alphatron, and Ashesi University Foundation are among the new institutional investors who join the fund’s LP base after the final closure. A group of new family offices were also welcomed to the closing.
Ventures Platform will intensify its efforts to lead and catalyze pre-seed to Series A investments with the ability to assist outstanding portfolio companies through subsequent rounds with the now-closed fund. Supporting mission-driven entrepreneurs that use technology to promote economic prosperity, inclusivity, and access across critical sectors continues to be the firm’s primary focus as it enters this next stage of deployment.
“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,” said Kola Aina, founding and managing partner at Ventures Platform.
“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. Globally, growing recognition that some of the most compelling innovation opportunities will emerge from undercapitalised yet highly resilient markets continue to generate meaningful interest in Africa’s technology ecosystem. The fund positions Ventures Platform at the centre of enabling that opportunity.”
