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Partech Africa II Reaches 1st Close At USD 262 M, Above Target Fund Size
Partech Africa II Reaches 1st Close At USD 262 M, Above Target Fund Size

Partech, the global technology investment firm, announces the first closing of Partech Africa II at EUR 245 million (USD 262 M), already above the target fund size. This second iteration of Partech’s Africa-focused strategy is backed by major Development Finance Institutions, as well as Institutional and Commercial investors. Partech Africa II will double-down on its successful strategy to identify and support the next generation of category leaders across the continent. 

Investors in the fund include, anchor investor KfW, the German Development Bank, European Investment Bank (EIB), IFC, member of the World Bank Group, FMO, Bpifrance Investissement, British International Investment (BII), DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH and Proparco, and commercial investors such as South Suez and Bertelsmann.

The Fund will provide USD 1 M to USD 15 M initial tickets from Seed to Growth to support entrepreneurs who use a combination of technology and excellent operations to address some of the hard-to-solve but very large opportunities the continent offers across all sectors. In 2018, Partech announced the launch of its Africa-focused strategy with a first Fund of €125 million. Today, the portfolio counts 17 companies started in 9 African countries and now operating in 27 countries on the continent. These category leaders are bringing value to 1M+ merchants and 20M+ end users, across a large set of sectors from Fintech to Healthtech, Logistics and Edtech. This portfolio has attracted 10%+ of the investment in Africa in 2021 as well as in 2022.