African seed-stage venture capital firm Ventures Platform has closed its second institutional fund at $84M, exceeding its original $75M target.
The oversubscribed VP Pan-African Fund II closed three years after the firm’s first fund, as global venture capital markets have become more cautious. The company said the raise reflects continued institutional confidence in Africa’s startup ecosystem.
Ventures Platform will invest from pre-seed through Series A and may continue backing strong portfolio companies in later rounds. Its strategy focuses on mission-driven founders using technology to expand access, address infrastructure gaps and lower delivery costs across African markets.
New institutional limited partners include the European Bank for Reconstruction and Development, Norfund, Alphatron and Ashesi University Foundation, alongside a consortium of family offices. Existing backers include IFC, Standard Bank, British International Investment, Proparco, AfricaGrow and other public and private investors.
The firm’s portfolio includes African technology companies such as Raenest, Fez Delivery, LemFi, Moniepoint, OmniRetail, Paystack, PiggyVest, Remedial Health, SunFi, ThriveAgric and Verto.
Kola Aina, Ventures Platform’s founding and managing partner, said the fund would enable the firm to support founders building resilient companies with stronger technical capabilities, governance and knowledge of local markets.
Source: EntArabi
