Ventures Platform, Africa's leading seed-stage fund, has announced the 64 million first close of its second fund, VP Pan-African fund II, aimed at deepening seed investments, catalysing Series A rounds, and driving its pan-African expansion to power the continent's next tech wave. The fund is targeting a final close of 75 million.
The close saw 70 of Limited Partner LP interest from the VC's first institutional fund - a strong testament to the firm's track record and strategy. New and returning investors include the first-of-its-kind participation from the Nigeria Investment in Digital and Creative Enterprises iDICE program, a bold initiative aimed at positioning Nigeria as a global hub for digital innovation and creative excellence, alongside, International Finance Corporation IFC, a member of the World Bank Group, Standard Bank South Africa, British International InvestmentBII - the UK's development finance institution and impact investor, Proparco through its EU-backed Choose Africa VC program, Micro, Small Medium Enterprises Development Agency MSMEDA and AfricaGrow.
The fund also attracted strong participation from leading European family offices, including Alder Tree Investment, as well as a consortium of prominent global investors including Michael Seibel.
