Global venture capital firm Partech has successfully closed its second Africa-focused fund, Partech Africa II, at €280 million (over $300 million). This significant milestone follows the fund’s successful first close in 2023, where it raised $263 million.
Partech Africa II will leverage this substantial capital to continue investing in high-growth African startups across various sectors. The fund’s investor base includes a diverse range of institutions, including US and Middle Eastern pension funds, sovereign funds, the Dubai Future District Fund, and the African Reinsurance Corporation.
“We are thrilled to have secured this significant investment for Partech Africa II,” said Tidjane Deme, General Partner at Partech. “This funding will enable us to expand our support for African startups, from early-stage to growth, and contribute to the continued development of the vibrant African tech ecosystem.”
Partech Africa II will primarily focus on Series A and B rounds, with investments ranging from $1 million to $15 million. The firm will leverage its deep expertise and extensive network to provide comprehensive support to its portfolio companies, including guidance on strategic development, access to key markets, and connections with potential partners and investors.
Partech’s commitment to the African tech ecosystem is further evidenced by the success of its first fund, Partech Africa I, which closed in 2018 for $143 million. This fund has already invested in 17 promising startups across nine African countries, demonstrating the firm’s ability to identify and support high-growth potential.
