Ventures Platform Secures $64 Million First Close for Pan-African Fund II
Nigeria-based venture capital firm Ventures Platform has reached the first close of its second fund at $64 million , strengthening its role as one of Africa’s most active early-stage investors. The new vehicle, Pan-African Fund II , will back technology-driven startups across the continent as they move beyond seed stage into growth.
Founded in 2016 by Kola AinaDealroom has a profile for this one. Try Dealroom → , Ventures Platform has built a portfolio of over 90 startups, including notable African tech firms such as Moniepoint, PiggyVest, and Mono. With Fund II, the firm plans to expand its investment focus from early seed rounds to include follow-on and Series A financing, enabling it to provide long-term support to companies scaling across African markets.
The fund is backed by a mix of institutional investors, development finance institutions, and sovereign capital , including the Nigerian government through iDICE . Other backers include AfricaGrowDealroom has a profile for this one. Try Dealroom → and IFC, alongside other international partners. The participation of public institutions signals growing confidence in African venture capital as an engine of innovation and job creation.
Ventures Platform will use the fund to invest in startups addressing key challenges in financial inclusion, healthcare, agriculture, education, and enterprise software — sectors that continue to see rising demand for digital solutions. The firm’s investment thesis centres on what Aina calls “non-consumption markets” — spaces where access, affordability, and efficiency gaps create opportunities for scalable technology adoption.
The firm also intends to deepen its Pan-African presence , expanding its team and partnerships beyond Nigeria into markets such as Kenya, Egypt, and South Africa . Fund II will allow Ventures Platform to make larger initial investments while reserving capital for follow-ons, a crucial step in a funding environment where many African startups struggle to bridge the gap between early and growth stages.
Sources:
Ventures Platform
TechCrunch
Launch Base Africa
TechCabal
J.V.
