New Investments
P1 Ventures Completes Final Close of Its First $50 Million Institutional Fund
Early-stage venture capital firm P1 Ventures has successfully closed its first institutional fund, securing $50 million to invest in promising technology startups across Africa.
Co-founded by Mikael Hajjar and Hisham Halbouny, P1 Ventures is a contrarian VC firm that aims to support early-stage tech entrepreneurs through strategic funding and mentorship.
With a portfolio spanning 34 companies in 10 countries, the firm has now attracted investment from a diverse group of backers, including African conglomerates, family offices, global VC partners, and the International Finance Corporation (IFC).
P1 Ventures’ total assets under management now exceed $60 million, reinforcing its commitment to fueling innovation on the continent.
The firm has backed startups in different sectors such as fintech and artificial intelligence (AI), focusing on businesses poised for high-impact growth.
“From game-changing fintech to pioneering AI applications, we’re uniquely positioned to identify opportunities and support their growth,” said Hisham Halbouny, managing partner at P1 Ventures.
“Great companies are often built in tough times, and today’s founders are more frugal, focused, and realistic about valuations. We believe this may be the greatest vintage ever.”
With this latest fund, P1 Ventures is set to play a pivotal role in shaping Africa’s tech landscape by supporting visionary founders in scaling their businesses across the continent.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like…
BII Commits $20 Million to Africa50 Infrastructure Fund as Private Capital Push Gains Momentum
British International Investment (BII), the UK’s development finance institution and impact investor, has committed $20 million to the Africa50 Infrastructure Acceleration Fund (IAF), strengthening efforts to mobilize long-term private capital for critical infrastructure projects across Africa.
South African Insurtech Startup Root Secures $1.5M for Europe Expansion
Root, a South African insurtech startup, has secured $1.5 million in funding to accelerate its expansion plans in the UK and Europe.
BFREE Raises New Funding to Scale Purchases of Non-Performing Loans in Africa
Pan-African debt recovery and distressed credit investor BFREE has secured a new growth investment round aimed at expanding its ability to purchase bad loan portfolios from banks and digital lenders across Africa.