Ventures Platform Closes $84 Million Pan-African Fund II Above Target
Ventures Platform has closed its second pan-African fund at $84 million, above its original target, with the European Bank for Reconstruction and Development joining as the first institutional LP of its kind for the fund. The oversubscribed close is described as one of Africa's largest early-stage fund closes of the current down cycle for global venture capital.
Ventures Platform: now watch who follows the EBRD through the door
The EBRD crossing into sub-Saharan African venture for the first time was yesterday's point. Today's question is whether it moves.
Development finance institutions anchoring this fund is still the dominant pattern — IFC, British International Investment, Proparco, Norfund. Public money doing the heavy lifting that private money won't yet touch.
The EBRD's historic first ticket is precisely the kind of signal that shifts that. But signals only matter if private capital reads them. The next Ventures Platform fund is where we'll know whether this one actually changed the room.
4 sources
- Ventures Platform clôture un deuxième fonds à 84 millions USD · financialafrik.com · T2
- 👨🏿🚀TechCabal Daily – Pick n Pay, pick n scroll · techcabal.com · T1
- VC firm Ventures Platform closes pan-African Fund II at $84m · disruptafrica.com · T1
- Ventures Platform closes $84m Pan-African Fund II · techtrendske.co.ke · T2