New Investments
Global VC Partech Closes $300 Million Fund for African Startups
The second close saw participation from prominent investors like US and Middle Eastern pension funds, sovereign funds, the Dubai Future District Fund (DFDF), and the African Reinsurance Corporation (Africa Re).
Partech, headquartered in Paris with offices in Dakar, Nairobi, Dubai, Berlin, and now Lagos, has a strong track record of investing in digital and tech companies at various stages.
This focus on early rounds aligns with Partech’s commitment to fostering long-term development within the African tech ecosystem.
“Partech Africa II is not just about capital,” says Tidjane Deme, General Partner at Partech. “Our expanding team will enable us to effectively deploy capital and offer comprehensive assistance to portfolio companies throughout their journey.”
Partech Africa II follows the success of Partech Africa I, which closed in 2018 for $143 million and currently supports a portfolio impacting over 1 million merchants and 20 million end users across Africa.
Despite a predicted slowdown in African investor activity in 2023, Partech’s successful fund closure serves as a positive indicator for the future.
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