Partech, a leading global venture capital firm, has successfully closed its second Africa-focused fund, Partech Africa II, at €280 million (over $300 million). This significant milestone comes just a year after the fund’s initial close, demonstrating strong investor confidence in Partech’s investment strategy and the long-term potential of the African tech ecosystem.
Partech Africa II will primarily focus on providing growth capital to high-potential African startups across various sectors, with a particular emphasis on Series A and B rounds. This new funding will enable Partech to continue supporting its portfolio companies as they scale and expand their operations across the continent.
Partech has a strong track record of success in supporting African startups. Partech Africa I, the firm’s first Africa-focused fund, successfully invested in 17 high-growth companies across nine countries, including prominent players in fintech, retail, and healthcare.
This significant fundraise by Partech comes at a crucial time for the African tech ecosystem, which has experienced a period of challenging market conditions. While overall investor activity has declined in recent times, Partech’s successful fundraise signals a renewed wave of investment in African startups and reinforces the long-term potential of the continent’s vibrant tech ecosystem.
