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.” 

The post Partech Africa II Fund Closes at $300 Million with Team, Portfolio Expansion appeared first on Tech | Business | Economy.

This second iteration of Partech’s Africa-focused strategy is backed by major Development Finance Institutions, as well as Institutional and Commercial investors. 

Partech Africa II will double-down on its successful strategy to identify and support the next generation of category leaders across the continent. 

The Fund will provide $1 million to $15 million initial tickets from Seed to Growth to support entrepreneurs who use a combination of technology and excellent operations to address some of the hard-to-solve but very large opportunities the continent offers across all sectors.

“We had set an ambitious goal for Partech Africa II at €230M, with a hard cap at €280M, essentially doubling the size of our first fund. We overreached it with a closed amount already above the target fund size.” comments Cyril Collon, General Partner at Partech Africa. “This would not have been possible without the trust and the support from our major existing investors. We are honoured that top-tier global institutions and strategic commercial investors have decided to back Partech Africa II.”

The Fund can rely on a diversified and international set of investors with all major DFIs, including anchor investor KfW, the German Development Bank, joined by European Investment Bank (EIB), International Finance Corporation (IFC), member of the World Bank Group, FMO, the Dutch entrepreneurial development bank, Bpifrance Investissement, British International Investment (BII), DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH and Proparco, as well as commercial investors such as South Suez and Bertelsmann.

“With Partech Africa II, our investment thesis is actually to pursue the successful strategy of our first fund.” explains Tidjane Dème, General Partner at Partech Africa. “We launched this strategy when less than $400 million were invested annually in equity on the continent. African tech companies are now raising $6 billion annually validating our early commitment beyond any expectations. Still, we know there are many more champions to build in Africa and we are ready to support them.”

In 2018, Partech announced the launch of its Africa-focused strategy with a first Fund of €125 million. Today, the portfolio counts 17 companies started in 9 African countries and now operating in 27 countries on the continent. These category leaders are bringing value to 1M+ merchants and 20M+ end users, across a large set of sectors from Fintech to Healthtech, Logistics and Edtech. This portfolio has attracted 10%+ of the investment in Africa in 2021 as well as in 2022. 

Building on the first fund’s learnings, Partech Africa will continue to lead and co-lead rounds with a larger ticket range ($1 million to 15 million), co-investing with the best regional and global players, playing an active role in bringing financial, strategic, and operational support to African founders. 

To execute on this strategy, the team, led by Cyril Collon and Tidjane Dème and comprised of Marie Benrubi, Sabrine Chahrour, Lewam Kefela, Matthieu Marchand, based in Dakar, Nairobi and Dubai, is expanding into new locations. It is augmented by Partech’s robust global platform with 3 members dedicated to Partech Africa: Romane Assou, Léa Gnaly and Alhou Maiga. This platform provides support across key functions such as Business Development & Portfolio Support, Founders Community, ESG, Finance, Compliance, and Legal.

This notable first close marks the launch of Partech Africa II and represents a solid vote of confidence in the African start-up ecosystem. After years of continuous growth, the African continent continue to attract even more global attention and capital.

The post Partech Africa II Reaches First Close at €245 Million Oversubscribed Funding Round appeared first on Tech | Business | Economy.