Global investment firm Partech has secured $300 million (€280 million) for its second Africa-focused fund, Partech Africa II, exceeding its initial target.
This news comes amidst a recent report highlighting a 50% decrease in the number of active investors in the African tech sector, making Partech’s drive even more important.
The Fund will target African tech startups with investments ranging from $1 million to $15 million, focusing on Seed to Series C rounds across various sectors.
With a goal to build a portfolio of over 20 companies, Partech Africa II aims to support ambitious founders on their growth journeys, both in local and international markets.
Partech’s target for early-growth funding addresses the gap in the African tech sector, where many startups struggle to secure the resources needed to scale.
The firm’s strong record, combined with the diverse group of investors backing the fund, including US, Middle Eastern, and African institutions, inspires confidence in its ability to identify and support future tech leaders.
Partech has also expanded its team and physical presence in Africa. The newly opened Lagos office, home to almost a third of the fund’s current portfolio, hammers on Partech’s focus on providing on-the-ground support to entrepreneurs.
Additionally, the appointment of senior investment officer Tito Cookey-Gam bolsters the team’s expertise and capacity.
Partech Africa II’s final closing highlights the firm’s long-term vision for African tech. In providing required funding, strategic guidance, and local support, Partech is enhancing the sustainable future of innovation on the continent.
As Cyril Collon, General Partner at Partech, said, “The capacity to anchor rounds at all stages from Seed to Early Growth is more critical than ever. It reinforces our mission to enable the emergence of technology companies that will create transformative value for African economies and shape the future of innovation globally.”
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