Partech Africa II closes its second Africa-focused fund at €280 million, becoming the largest fund for African startups, surpassing its target.
Amid reduced investor activity in Africa, Partech Africa emphasizes support for startups from seed to Series C rounds. With a presence in key African cities, the firm plans to deploy most of its fund between Series A and B rounds, backing over 20 companies with investments ranging from $1 million to $15 million.
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The firm prioritizes sectors such as fintech, agritech, health tech, retail, FMCG, and agency banking, which are vital for Africa’s employment and economic activity. Notable investments from its second fund include Revio, a South African payment orchestration platform, among others.
While existing companies from the first fund can benefit from follow-on capital, Partech Africa remains committed to supporting them through their journey with capital and other forms of assistance.
Partech Africa’s diverse investor base includes development finance institutions, commercial investors, African fund-of-funds, family offices, as well as new strategic investors from the US, the Middle East, and Africa.
The firm’s success reflects continued investor interest in Africa’s growth potential, despite challenges in raising capital. Partech Africa joins other notable funds that have emerged on the continent in the past year, underscoring the optimism and potential for growth in Africa’s tech ecosystem.
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