The Partech Africa Fund has achieved a final closing at US$142.75mn, more than double the size of its first closing a year ago at US$70mn
Backed by a unique set of financial institutions, major corporate partners and successful entrepreneurs, Partech Africa sets out with the largest VC fund dedicated to technology startups in Africa.
All the major financial institutions driving investment in Africa back the fund. Joining the European Investment Bank (EIB), IFC, member of the World Bank Group and Averroès Finance III (fund of funds managed by Bpifrance and co-sponsored with Proparco), Partech Africa also counts on KfW, the German Development Bank, FMO, the Dutch Development Bank and the African Development Bank Group (AfDB).
On the corporate side, Partech Africa was backed from the start by major global mobile operator Orange and leading emerging market actors such as Edenred and JCDecaux Holding. These pioneering investors have been joined by top tier global players such as Bertelsmann and L’Oréal as well as successful African champions such as Axian Group,TEXAF.
Partech Africa will also leverage the experience of more than 25 successful entrepreneurs who have committed to support through the fund a new generation of game changers.
A major African player
With this final closing, Partech Africa confirms its position as a major go-to platform for tech financing on the continent, with a strong capability to leverage much more capital thanks to its partners.
The fund is positioned for series A and B financing rounds in startups which are changing the way technology are used in education, mobility, finance, delivery, energy, etc. It has already made two investments in 2018: TradeDepot, in Nigeria, and Yoco, in South Africa, and is expected to close even more deals in 2019.
“This is a pioneering work in Africa and we are very excited to onboard major talents such as Matthieu and Ceasar and work hard with them to set the standards for a new generation of Africa-based investors,” commented Tidjane Deme.
