Pan-African venture capital firm, Ventures Platform, has successfully closed its second fund at $46 million, exceeding its initial target. This capital infusion will enable the firm to intensify its investment activities in high-potential, “category-leading” companies across the African continent.
Founded in 2016 by Kola Aina, Ventures Platform has established itself as a prominent player in the African startup ecosystem. The firm has a proven track record of identifying and supporting early-stage companies with high-growth potential, boasting a portfolio that includes notable names such as Piggyvest, PayHippo, and Mono.
The initial close of the $40 million fund in December 2021 garnered significant interest from African Limited Partners (LPs). However, the second close saw a surge in international participation, attracting a diverse range of investors, including:
- Global financial institutions: Standard Bank, International Finance Corporation (IFC), British International Investment (BII), and Proparco.
- Impact investors: A to Z Impact.
- Corporations, commercial banks, and high-net-worth individuals (HNIs).
Ventures Platform’s investment strategy focuses on early-stage companies, primarily in the pre-seed and seed stages. The firm typically invests an average of $250,000 in initial rounds and is committed to providing ongoing support to its portfolio companies, including follow-on investments of over $1 million at Series A rounds. This approach reflects the firm’s dedication to nurturing high-growth companies and fostering long-term partnerships.
With this new fund, Ventures Platform aims to further solidify its position as a leading investor in the African tech ecosystem. The firm’s focus on “category-leading” companies, combined with its strong network and deep understanding of the African market, positions it well to capitalize on the continent’s burgeoning entrepreneurial landscape.
