Ventures Platform has reached a $64 million first close for its second vehicle, VP Pan-African Fund II, with a target final close of $75 million. The firm positions the fund to deepen seed activity, catalyze Series A rounds, and extend its pan-African footprint. Management frames the raise as fuel for Africa’s next tech wave, pairing capital with structured post-investment support.
Fund Strategy and Scope
Fund II expands Ventures Platform’s mandate from pre-seed and seed into leading and crowding in Series A financings. The strategy focuses on “painkiller” solutions that address non-consumption and infrastructure gaps across fintech, healthtech, agritech, edtech, and AI. The team emphasizes de-risking high-potential ventures through active value creation and disciplined follow-on.
Limited Partners and Public Backing
Seventy percent of LP interest comes from the VC’s first institutional fund, signaling confidence in the approach and performance. New and returning investors include IFC, Standard Bank in South Africa, British International Investment, Proparco via the EU-backed Choose Africa VC program, MSMEDA, and AfricaGrow. The round also features the Nigeria iDICE program’s first-of-its-kind participation, alongside European family offices such as Alder Tree Investment and global investors including Michael Seibel.
Geographic Focus and Expansion
Capital will consolidate the firm’s presence in Francophone Africa while accelerating expansion into North Africa. Nigeria remains a core market, with broader Africa coverage guided by on-the-ground expertise and portfolio support practices. The objective is to back resilient founders who can scale market-creating products across multiple regulatory and consumer landscapes.
Track Record and Portfolio Performance
Since launching in 2016, Ventures Platform has invested in more than 90 startups across multiple verticals. The firm reports strong results from its first institutional fund, which closed in December 2022, and notes returns on four of six vintages to date. Portfolio graduation from seed to Series A and beyond is highlighted by Raenest, Remedial, and SeamlessHR, with LemFi and Moniepoint advancing to Series B and Series C respectively.
Investor and Partner Perspectives
Bank of Industry, implementing the iDICE program, characterizes the commitment to Fund II as a lever to upscale Nigeria’s technology and creative sectors while catalyzing job creation. Standard Bank cites the quality of the Ventures Platform team and its ongoing support for high-impact founders as drivers for renewing the partnership. Proparco underscores that Fund II is its first fund investment under Choose Africa VC, aligning with its mandate to strengthen the Nigerian and pan-African tech ecosystem.
Ecosystem Impact and Recognition
Ventures Platform points to external validation across the portfolio as evidence of durable value creation. OmniRetail, Thrive Agric, and Moniepoint appeared in the Financial Times 2024 ranking of Africa’s fastest-growing companies, with OmniRetail taking the top spot. Piggyvest and Moniepoint earned placements on CNBC’s global fintech lists, while Remedial Health was named to Time’s 2025 list of the World’s Top Health Companies.
With $64 million secured toward a $75 million target, Fund II gives Ventures Platform additional firepower to lead rounds and support founders through scale. The blend of public programs, development finance institutions, commercial banks, and family offices signals broad conviction in Africa’s innovation upside. If execution matches intent, the fund is positioned to translate non-consumption challenges into growth, jobs, and enduring enterprise value across the continent.