Ventures Platform Raises $83M for Second Africa Fund, Expanding Beyond Nigeria
Ventures Platform has raised a $83 million second fund as the Pan-African venture capital firm expands its operations beyond Nigeria. The oversubscribed fund reflects growing institutional confidence in African tech startups and follows an earlier $46 million first fund launched in 2022. The new fund will target early-stage companies across fintech, healthcare, SaaS, and AI-driven ventures that can transform cost structures or business models for the continent. The firm has already invested in five startups based in Kenya, South Africa, and Egypt, with check sizes up to $3 million. Founding partner Kola Aina emphasized a more selective venture market where limited partners demand proof of value creation rather than just capital raising. The fundraising took 18 months amid increased scrutiny from LPs on performance metrics and portfolio construction. African startups raised around $930 million in over 200 deals this year, down from $1.16 billion last year across nearly double the number of transactions.
Topics: Africa Tech Ecosystem AI in Africa Early-Stage Investing Venture Capital