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Partech Africa II Fund Reaches Final Close Above USD 300 M, Expands Team and Portfolio
Partech Africa II Fund Reaches Final Close Above USD 300 M, Expands Team and Portfolio

Partech, the global technology investment firm, announces the final closing of its second Africa fund, Partech Africa II, at a hard cap of €280M (USD 300M+), opens a new office in Lagos and is looking to hire more team members. Following a strong first closing announced last year, Partech Africa II, has reached its final closing at €280M ($300M+) with all major investors from its predecessor fund but also top tier investors making their first commitment into the Partech Africa platform and into the African VC ecosystem.

This oversubscribed final closing has provided the opportunity to attract new categories of global institutions namely, US and Middle East pension funds and sovereign funds. It also includes new strategic investors Africa Re and Dubai Future District Fund (DFDF) who are joining the existing early Partech Africa supporters: Orange, AXIAN Investment and the African Development Bank Group (AFDB).

Overall, the fund has attracted support from a diverse group of 40+ international investors, from commercial investors such as South Suez and Bertelsmann to family offices, and major Development Finance Institutions (DFIs). The set of DFIs includes anchor investor KfW, the German Development Bank, the European Investment Bank (EIB), the International Finance Corporation (IFC), a member of the World Bank Group, FMO, the Dutch entrepreneurial development bank, Bpifrance Investissement, British International Investment (BII), the UK’s development finance institution and impact investor, DEG – Deutsche Investitions – und Entwicklungsgesellschaft mbH and Proparco.

Partech Africa II will double down on its strategy of investing across Africa with initial tickets ranging from USD 1 M to USD 15 M on Seed to Series C rounds, to support African companies and founders on their growth journey in both local and international markets. The team expects to build a portfolio of over 20 companies across the continent.