Pan-African seed-stage venture capital firm Ventures Platform has announced the US$64 million first close of its second fund, VP Pan-African Fund II. The fund, which has a final target of US$75 million, is set to deepen seed investments, catalyze Series A rounds, and power the firm’s expansion across the continent, including a strategic move into North Africa.
A Pan-African Mandate
Founded in 2016, Ventures Platform focuses on identifying and backing companies that address critical infrastructural gaps and promote prosperity by eliminating barriers to access. The firm targets market-creating innovations that solve for non-consumption, effectively bringing essential services to underserved populations.
Its impressive portfolio includes some of Africa’s most notable startups, such as Paystack, PiggyVest, Moniepoint, Remedial Health, ThriveAgric, and LemFi.
Strategic Expansion and Investment Focus
The VP Pan-African Fund II marks a strategic evolution for the firm. In addition to its foundational pre-seed and seed investments, the fund will now lead and participate in Series A rounds, aiming to de-risk high-potential ventures and enhance value creation for its portfolio companies.
A key part of the new strategy involves accelerating its pan-African expansion into North Africa and consolidating its presence in Francophone Africa, while continuing to build on its core operations in Nigeria. The fund will prioritize ventures building “painkiller” solutions in sectors like fintech, e-health, agri-tech, ed-tech, and AI.
Kola Aina, founding partner at Ventures Platform, commented on the fund’s vision, “The backing we’ve received from a diverse group of blue-chip partners is a powerful endorsement of Africa’s place as the purest, most asymmetric source for non-consensus alpha and transformative impact. The continent’s innovation opportunity is boundless, the needs are immense, but realising its full impact demands smart contextual capital, post-investment value creation, and a commitment to de-risking groundbreaking market-creating innovations.”
Backed by Global Institutional Heavyweights
The fund’s first close attracted a prestigious lineup of limited partners, signalling strong institutional confidence in Ventures Platform’s strategy. Investors include commercial banks, corporates, Development Finance Institutions (DFIs), and global institutional investors.
Key backers include Standard Bank, International Finance Corporation (IFC), British International Investment (BII), A to Z Impact, Proparco with FISEA, and AfricaGrow. The fund also saw participation from prominent European family offices and a consortium of global investors, including Y Combinator founder Michael Seibel.
Relevance for the MENA Ecosystem
The formal expansion of Ventures Platform into North Africa is significant news for the MENA startup ecosystem. The introduction of a seasoned, pan-African institutional investor brings fresh capital, deep operational expertise, and a valuable network to the region. This move is expected to increase funding opportunities for early-stage startups in key North African hubs, providing them with a critical bridge to later-stage financing and continental growth.
“We believe Africa’s challenges are its greatest opportunities,” Aina added. “By supporting resilient founders, we’re catalysing sustainable, market-creating innovations that will shape the future of the continent and plug gaps for the next billion. As we expand our footprint, our focus remains clear: to identify and back ventures that are building market-creating innovations that solve for non-consumption and drive economic evolution.”
About Ventures Platform
Ventures Platform is a Pan-African seed-stage venture capital firm that invests in market-creating innovations that solve for non-consumption across the continent. Since its launch in 2016, the firm has backed over 100 companies that are building solutions to bridge infrastructural gaps in sectors such as fintech, healthtech, and agritech.
Source: Disrupt Africa
