Ventures Platform Closes Pan-African Fund II At USD 84 M, Exceeding Target

African venture capital firm Ventures Platform has reached the final close of its second institutional fund, VP Pan-African Fund II, at USD 84 M, exceeding its original USD 75 M target.

The close, achieved three years after Fund I, comes despite a challenging global fundraising environment. New institutional investors include the European Bank for Reconstruction and Development (EBRD), Norfund, Alphatron and Ashesi University Foundation, alongside new family offices.

Existing LPs include IFC, British International Investment, Proparco, Standard Bank, iDICE, AfricaGrow and others.

Founded in 2016 by Kola Aina and headquartered in Lagos, Nigeria, Ventures Platform invests from pre-seed to Series A in technology companies across Africa. Its portfolio includes Paystack, PiggyVest, OmniRetail, Raenest and Seamless Technologies. The fund will back category-defining founders tackling major challenges across the continent.