Ventures Platform announces closing $46m fund to invest in “category-leading” African companies

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  • Pan-African early-stage task superior firm, Ventures Platform, has announced the 2nd adjacent of its $46 cardinal fund.
  • The steadfast announced its archetypal adjacent of $40 cardinal successful December 2021, attracting African Limited Partners (LPs). However, its 2nd adjacent has drawn planetary investors.
  • Launched successful 2016 by Kola Aina, Ventures Platform has served arsenic a important spouse and conduit for planetary funds and stakeholders looking for a dependable and experienced spouse to bash concern successful Africa. 

Pan-African early-stage task superior firm, Ventures Platform, has closed its money astatine $46 cardinal to summation its absorption connected “category-leading” companies crossed the continent.

In December 2021, the steadfast announced the archetypal adjacent of its $40 cardinal money with Michael Seibel, Adam Draper, Shola Akinlade, and Gbenga Oyebode arsenic idiosyncratic Limited Partners (LPs). 

However, its 2nd adjacent has attracted planetary LPs, including Standard Bank, A to Z Impact, corporations, commercialized banks, planetary organization investors, and high-net-worth individuals (HNIs) among its constricted partners (LPs).

Other LPs are immoderate of the improvement concern institutions (DFIs), including the International Finance Corporation (IFC), British International Investment (BII), Proparco with FISEA, and AfricaGrow. 

Founded successful 2016 by Kola Aina, Ventures Platform invests successful startups crossed Africa up to Series A and has notable startups specified arsenic Piggyvest, PayHippo, Mono, SeamlessHR, Tizeti, and Printivo arsenic portfolio companies. 

Since its launch, Ventures Platform claims it has made implicit 60 investments successful sectors specified arsenic fintech, insurtech, wellness tech, edtech, agritech, endeavor SaaS, integer infrastructure plays, and integer endowment accelerators. 

Marketforce, Mono, PiggyVest, Nomba, and Reliance HMO are among the notable names successful its portfolio.

The bulk of these investments occurred during the pre-seed and effect stages.

The steadfast has stepped up its crippled and is present issuing Series A checks to its portfolio companies, immoderate of which tin straight entree follow-on superior (Series B and above) from the firm’s constricted partners. 

Aina stated that the early-stage steadfast plans to pb pre-seed and effect rounds, investing an mean of $250,000 and participating successful and penning follow-up checks of much than $1 cardinal astatine Series A rounds.

Recall that successful November 2022, Damilola Teidi joined Ventures Platform Fund arsenic Head of Platform and Networks.

Source Techpoint Africa
Techpoint Africa