Partech Africa II, a leading venture capital fund focused on African startups, recently achieved a final close at €280 million ($300 million+). With this historic milestone, Partech Africa II becomes the largest Africa-dedicated fund, surpassing its original target of €230 million. Despite global economic shifts and local challenges causing a reduction in venture capital flows to African startups, Partech’s latest fund demonstrates continued confidence in the potential of the region’s entrepreneurial landscape.
Partech Africa II aims to support founders throughout their entire journey, from seed through series C rounds, with ticket sizes ranging from $1 million to $15 million. The fund’s investor base includes a diverse mix of development finance institutions, commercial investors, African fund-of-funds, family offices, U.S., Middle Eastern pension funds, sovereign funds, and strategic players such as the Dubai Future District Fund and the African Reinsurance Corporation.
As part of its expansion plans, Partech Africa II will establish a new office in Lagos, Nigeria, further bolstering its presence in Africa alongside existing locations in Dakar, Nairobi, and Dubai. By doing so, Partech Africa hopes to provide even stronger support to entrepreneurs on the ground.
