Africa’s Venture Ecosystem Gains Momentum as Ventures Platform Announces $64 Million First Close for Pan-African Fund II

Ventures Platform’s announcement of a $64 million first close for its new VP Pan-African Fund II is a pivotal development in the evolution of Africa’s technology and startup ecosystem. The fund, which is targeting a final close at $75 million, seeks to enhance early-stage capital access, catalyze successful Series A rounds, and expand venture-building infrastructure across multiple regions of the continent. This milestone highlights both investor confidence in African innovation and the growing maturity of its startup markets, particularly in sectors addressing systemic gaps in finance, healthcare, education, food systems, and digital infrastructure.

The firm, which has become a leading early-stage VC institution since its launch in 2016, is now positioning itself to influence the next growth era of African startups. The majority of participation in the first close came from returning Limited Partners (LPs), demonstrating strong retention and trust. These returning LPs make up roughly 70 percent of investors from Ventures Platform’s first institutional fund—an indicator of successful fund performance and value creation.

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Among the key investors in this new vehicle are global and regional development finance institutions, including the International Finance Corporation, the Nigeria Investment in Digital and Creative Enterprises (iDICE) program, and British International Investment, each of which has played a significant role in scaling digital economies across Africa and emerging markets. Institutional backing from partners such as Standard Bank, one of Africa’s largest financial services groups, and Proparco through its EU-backed Choose Africa program, reflects long-term strategic alignment with sustainable innovation and entrepreneurship-led growth across the continent.

Further participation came from organizations including AfricaGrow, the Micro, Small & Medium Enterprises Development Agency of Nigeria, Alder Tree Investments, and notable global investors such as Michael Seibel of Y Combinator — a signal of continued international attention to African tech founders. The inclusion of such institutions also suggests expanding confidence in African market viability despite global venture capital slowdowns.

Expanding Strategic Investment Across Africa

The VP Pan-African Fund II will extend Ventures Platform’s geographic and operational reach. The fund aims to deepen its footprint across Francophone Africa, expand into North African markets, and sustain core activity in Nigeria, which continues to serve as a vibrant hub for tech entrepreneurship. The growing integration of African sub-regions into broader continental innovation networks is increasingly enabled by improvements in cross-border payments, digital ID systems, talent mobility, and venture formation infrastructure.
To understand the evolving financing landscape shaping these opportunities, insights on African investment activity are available through business and investment trend reporting provided according to investment development organizations.

Ventures Platform plans to invest not only at the seed stage but also actively support Series A rounds, where African startups often face a structural funding gap. While seed-stage capital has grown in availability over the past decade, Series A financing remains comparatively constrained, often forcing founders to seek international funding partners or to slow scaling activities. By helping lead Series A rounds, the fund aims to de-risk emerging business models, accelerate market penetration, and build stronger competitive moats for African-born solutions.

The sectors prioritized by the fund—Fintech, Healthtech, Agritech, Edtech, and Artificial Intelligence—represent areas where demand for innovation is driven by challenges of non-consumption, meaning millions of Africans lack access to basic services that technology can help deliver efficiently.

For example:

• Fintech continues to play a critical role in expanding digital and financial inclusion across Africa, aligning closely with policy and regulatory modernization efforts described according to regional central banking publications on financial inclusion strategies.
  
• Healthtech startups are building telemedicine networks, diagnostic platforms, and supply chain innovations that address shortages in physical healthcare infrastructure.
  
• Agritech solutions are targeting food systems stability, a critical issue given the central role agriculture plays in African economies and livelihoods, reflected through agricultural development research shared according to regional food security reports.
  
• Edtech platforms are bridging the accessibility divide in learning and workforce development.
  
• AI-driven solutions are emerging to optimize logistics, supply chains, and customer experiences across multiple industries.

A Strong Track Record of Founder and Portfolio Support

Since 2016, Ventures Platform has invested in over 90 startups, many of which have achieved meaningful progress in market expansion, revenue growth, and valuation milestones. Several portfolio companies have successfully moved from seed funding to later growth stages, raising Series B and C rounds and receiving international recognition from organizations that track fast-growing enterprises across Africa and emerging markets.
Among these recognitions are listings among Africa’s fastest-growing companies, as published according to Financial Times sector growth rankings, and international recognition from business and innovation media platforms.

This performance has reinforced the fund’s credibility, enabling it to maintain long-term investor relationships and attract new institutional partners seeking exposure to Africa’s fast-evolving innovation landscape.

The participation of government-linked investment entities such as iDICE also signals a broader public policy emphasis on leveraging entrepreneurship as a development engine. The iDICE program, implemented by the Bank of Industry, aims to facilitate digital innovation capacity nationwide, deepen the creative economy, and support the emergence of scalable high-growth startups. The partnership with Ventures Platform helps operationalize this effort through targeted venture equity investments.

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Strategic Investor Commentary

Several leaders from participating institutions underscored the strategic importance of this fund:

Kola Aina, the Founding Partner of Ventures Platform, emphasized the need for context-led, risk-conscious capital deployment, paired with post-investment operational support to unlock real innovation value. Aina noted that Africa’s greatest challenges also represent its greatest entrepreneurial opportunities, highlighting the imperative to back resilient founders building market-creating solutions that address fundamental needs.

Dr. Olasupo Olusi, MD/CEO of the Bank of Industry, described the fund’s alignment with Nigeria’s economic transformation agenda, pointing to its role in empowering high-growth entrepreneurs and generating employment at scale.

Standard Bank’s leadership reaffirmed its commitment to supporting impactful entrepreneurship across the continent, while Proparco’s CEO emphasized the continued backing of the tech ecosystem as part of the EU-funded Choose Africa VC program, which supports scalable SMEs across the region.

The International Finance Corporation (IFC) expanded on its rationale by noting that the investment would help strengthen local value chains, create quality jobs, and accelerate viable innovations in sectors critical to social and economic resilience.

Conclusion: A Catalyst for Africa’s Next Innovation Era

The $64 million first close of VP Pan-African Fund II is more than a milestone for Ventures Platform—it is a reflection of Africa’s expanding entrepreneurial capacity, growing investor confidence, and the enduring belief that local innovation can drive global impact.

As the continent continues to urbanize, digitize, and integrate economically, the demand for scalable, locally relevant technology solutions is set to rise sharply. The success of this fund may help determine how quickly African startups can meet that demand—and how deeply they can shape the continent’s economic future.

If executed effectively, this fund has the potential to accelerate sustainable development, create employment at scale, strengthen cross-border innovation networks, and expand prosperity through entrepreneurship.

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By: Montel Kamau

Serrari Financial Analyst

11th November, 2025