Partech, a leading global investment firm, has successfully concluded the final closing of its second Africa-focused fund, Partech Africa II, surpassing its hard cap target with €280M ($300M+). The firm has solidified its commitment to the African tech sector by inaugurating a new office in Lagos, Nigeria.

The fundraise received support from existing and new investors, signaling confidence in Partech’s Africa platform and the broader venture capital on the continent. Major investors from the previous fund reinvested, with some doubling their commitments, while new participants, including institutional investors from the US and Middle East, joined the diverse investor base.

Among the notable additions are Africa Re and Dubai Future District Fund (DFDF), alongside early supporters like Orange, AXIAN Investment, and the African Development Bank Group (AFDB). The investor pool comprises over 40 entities, including commercial companies such as South Suez and Bertelsmann, family offices, and prominent Development Finance Institutions (DFIs) like KfW, the European Investment Bank (EIB), and the International Finance Corporation (IFC).

The successful fundraise coincides with Partech’s plans to expand its team to execute its vision for technological advancement and innovation across Africa. Cyril Collon, General Partner at Partech, expressed gratitude for the unwavering support of investors, highlighting the significant reinvestment from Fund I investors.

In tandem with the fund’s growth, Partech Africa is actively recruiting senior talent for “Portfolio Strategy & Operations” to enhance value creation and exit strategies, as well as an Investment Analyst based in Lagos. Partech Africa II’s closing comes at a crucial juncture, as the African tech ecosystem witnesses a 50% decline in active investors, as outlined in the 2023 Africa Tech Venture Capital Report.

Collon stressed the heightened importance of securing funding across all stages, reaffirming Partech’s dedication to nurturing tech companies that drive transformative impact in African economies and contribute to global innovation. Headquartered in Dakar, Senegal, Partech Africa is a leading venture capital fund dedicated to supporting technology startups across the continent.

The fund invests in equity rounds spanning from Seed to Series C, targeting startups reshaping technology applications in sectors such as education, mobility, finance, healthcare, delivery, and energy. Partech, headquartered in Paris, operates offices in Berlin, Dakar, Lagos, Dubai, Nairobi, and San Francisco. With a 40-year history and €2.5 billion in assets under management (AUM), Partech manages a diverse portfolio of 220 companies across 40 countries on four continents, providing capital and operational support from seed to growth stages.

Olawale Moses Oyewole
Olawale Moses Oyewole
Olawale Moses Oyewole is an adept writer who stays on top of current events and curate informative and engaging articles for his readers. He is a digital strategist who help brands gain online visibility.

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