Global technology investment firm, Partech, has announced the first closing of its Partech Africa II fund with a raised amount of €245 million, surpassing its target size. The second iteration of Partech’s Africa-focused strategy is backed by major Development Finance Institutions, Institutional investors, and Commercial investors.
Partech Africa II has received support from a diversified and international set of investors, including KfW, the German Development Bank, the European Investment Bank (EIB), the International Finance Corporation (IFC), member of the World Bank Group, FMO, the Dutch entrepreneurial development bank, Bpifrance Investissement, British International Investment (BII), DEG, and Proparco. Commercial investors such as South Suez and Bertelsmann have also joined the fund.
The Partech Africa II fund will continue its successful strategy of providing support to the next generation of category leaders across Africa. The fund will provide initial tickets of $1 million to $15 million, from Seed to Growth, to support entrepreneurs in addressing the large opportunities across all sectors in Africa.
Building on the First Fund’s Learnings
Partech launched its Africa-focused strategy with a first fund of €125 million in 2018. Today, the portfolio comprises 17 companies operating in 9 African countries and serving over 20 million end-users and 1 million merchants across sectors such as Fintech, Healthtech, Logistics, and Edtech. Partech Africa will continue to lead and co-lead rounds with a larger ticket range, co-investing with the best regional and global players and providing financial, strategic, and operational support to African founders.
The first close of Partech Africa II marks a solid vote of confidence in the African start-up ecosystem and its continued growth. Despite already attracting over 10% of the investment in Africa in 2021 and 2022, the fund aims to support even more champions in the continent.
The Team is Expanding into New Locations
The Partech Africa team, led by Cyril Collon and Tidjane Dème and based in Dakar, Nairobi, and Dubai, is expanding into new locations and is supported by Partech’s robust global platform with three dedicated members. The platform provides support across functions such as Business Development & Portfolio Support, Founder’s Community, ESG, Finance, Compliance, and Legal.
The African continent continues to attract global attention and capital, with African tech companies now raising $6 billion annually. Partech Africa II’s successful first close marks a significant milestone in the continued growth of the African start-up ecosystem.