Ventures Platform, Africa's leading seed-stage fund, has announced the final close of its second institutional fund, VP Pan-African Fund II (VP PAF II), at $84 million, surpassing its original target of $75 million.

The oversubscribed close comes just three years after the close of Fund I and against a markedly more cautious global venture capital backdrop. Ventures Platform said the result reflects growing global institutional confidence in Africa's innovation economy, as well as confidence in the firm's approach to identifying and backing exceptional founders from the earliest stages of company building. For startups at pre-seed through Series A, that early-stage capital can be especially important because it often determines whether promising businesses can move from product development into market entry and subsequent growth rounds.

New and Returning Investors

The final close brings new institutional investors into the fund's limited partner base, including the European Bank for Reconstruction and Development (EBRD), Norfund (Norway's Development Finance Institution), Alphatron, and Ashesi University Foundation — a reflection, the firm noted, of the fund's appeal to institutions committed to developing Africa's innovation ecosystem. The close also welcomed a consortium of new family offices.

These new investors join a group of existing LPs from the fund's first close, including the Nigeria Investment in Digital and Creative Enterprises (iDICE) program, the International Finance Corporation (IFC), a member of the World Bank Group; Standard Bank (South Africa); British International Investment (BII); Proparco (through the EU-backed Choose Africa VC programme); the Micro, Small \u0026 Medium Enterprises Development Agency (MSMEDA); AfricaGrow; and Alder Tree Investment.

Deployment Plans

With the fund now closed, Ventures Platform said it will double down on leading and catalysing pre-seed to Series A investments, with the capacity to support exceptional portfolio companies through subsequent rounds. The firm will back category-defining founders building solutions to some of Africa's most pressing challenges and transformative opportunities. As it moves into this next phase of deployment, its focus remains on supporting mission-driven entrepreneurs who are using technology to drive economic prosperity, inclusion, and access across key sectors.

Leadership Commentary

“This fund is ultimately not about the capital we've raised, but about the entrepreneurs we're privileged to be able to back,” said Kola Aina, Founding and Managing Partner at Ventures Platform. “Across Africa, we're seeing a new generation of founders building enduring companies with greater technical depth, stronger governance, bigger ambition and a clear understanding of the markets they serve. These businesses are being built for resilience as much as growth, and we believe that positions them to create lasting value. We're deeply grateful for the confidence of our investors and excited to partner with ambitious founders solving meaningful problems across the continent.”

Globally, growing recognition that some of the most compelling innovation opportunities will emerge from under-capitalised yet highly resilient markets continues to generate meaningful interest in Africa's technology ecosystem. The fund positions Ventures Platform at the centre of enabling that opportunity, while also underscoring how local and international backers are continuing to support the region's startup infrastructure even as capital allocation has tightened elsewhere.

“Innovation is increasingly shaping Africa's economic future, yet venture capital remains underdeveloped relative to the scale of entrepreneurial activity across the continent,” said Dirk Werner, Managing Director of Equity at EBRD. “By investing in Ventures Platform Pan-African Fund II, we are helping to strengthen the market infrastructure that enables innovative businesses to access growth capital and scale their impact.”

“We are excited to be part of the Ventures Platform journey and to support its continued commitment to backing Africa's most ambitious founders,” added Jerry Jansen, Investment Manager at Alphatron. “We see tremendous potential in Africa's technology ecosystem and look forward to working alongside the firm to help build enduring businesses, unlock new opportunities, and create lasting positive impact across the continent.”

Track Record

With over a decade of operation, Ventures Platform has consistently backed category-leading companies, including _able, OmniRetail, PiggyVest, Raenest, Seamless Technologies (formerly SeamlessHR), and Moniepoint. The raise reflects the increasing depth of the African venture ecosystem and reinforces the firm's long-standing thesis of investing in market-creating innovations, and backing founders with capital alongside strategic guidance, networks, and ecosystem development from the early stages of company building.

About Ventures Platform

Ventures Platform is a leading seed-stage venture capital firm in Africa that discovers and invests in category-leading, market-creating innovations and supports them to scale. The firm targets companies that bridge infrastructural gaps and promote prosperity by eliminating access barriers and reducing delivery costs across the continent, identifying companies that address non-consumption through market-creating innovations. Its portfolio companies include Raenest, Fez Delivery, LemFi, Moniepoint, OmniRetail, Paystack, PiggyVest, Remedial Health, SunFi, ThriveAgric, and Verto.

Source: BitcoinKE