Ventures Platform Raises $84M, Backing Africa’s Tech Founders

Ventures Platform, a leading seed-stage fund focused on the African market, has announced the final close of its second institutional fund – VP Pan-African Fund II (VP PAF II) – at $84 million. This exceeds their initial target of $75 million and demonstrates growing investor confidence in Africa’s innovation economy.

The oversubscribed Fund II brings new investors including:

  • European Bank for Reconstruction and Development (EBRD)
  • Norfund (Norway’s development finance institution)
  • Alphatron
  • Ashesi University Foundation

Existing limited partners from the first close include Nigeria’s iDICE program, IFC, Standard Bank, BII, Proparco, Micro, Small & Medium Enterprises Development Agency (MSMEDA), AfricaGrow, and Alder Tree Investment.

With this fund, Ventures Platform will focus on pre-seed to Series A investments, providing support through subsequent funding rounds for exceptional portfolio companies. They’ll prioritize founders building solutions addressing critical challenges across key sectors in Africa.

Strategic Focus on Mission-Driven Entrepreneurs

“This fund is ultimately about the entrepreneurs we back,” said Kola Aina, Founding and Managing Partner at Ventures Platform. “We’re seeing a new generation of African founders with greater technical depth, stronger governance, and clear market understanding – building resilient companies that create lasting value.”

The firm will continue its commitment to supporting mission-driven entrepreneurs using technology to drive economic prosperity, inclusion, and access across the continent.

Investor Confidence in Africa’s Tech Ecosystem

Dirk Werner of EBRD noted: “Innovation is increasingly shaping Africa’s economic future. By investing in Ventures Platform, we’re helping strengthen the market infrastructure that enables innovative businesses to scale their impact.”

The $84 million raise underscores the growing recognition that some of the most compelling innovation opportunities will emerge from undercapitalized yet resilient markets like Africa – positioning Ventures Platform at the center of this opportunity.