Ventures Platform, one of Africa’s most influential early-stage venture capital firms, has announced the first close of $64 million for its Pan-African Fund II, setting the stage for a new era of startup growth across the continent. The fund, which is targeting a final close of $75 million, will focus on deepening seed investments, catalyzing Series A funding rounds, and expanding the firm’s footprint across Africa. The impressive close comes with 70% participation from returning investors from Ventures Platform’s first institutional fund, a strong endorsement of its track record and strategic direction. The new funding pool features contributions from notable institutions such as the Nigeria Investment in Digital and Creative Enterprises (iDICE) program, the International Finance Corporation (IFC), Standard Bank South Africa, British International Investment (BII), Proparco, AfricaGrow, and several European family offices, including Alder Tree Investment.
Global investors such as Michael Seibel also joined the fund, reflecting confidence in Ventures Platform’s mission to shape Africa’s innovation future. At the core of this milestone lies Ventures Platform’s ambition to de-risk early-stage startups and accelerate innovation across vital sectors like fintech, healthtech, agritech, edtech, and artificial intelligence. According to Kola Aina, Founding Partner at Ventures Platform, the new fund represents a renewed commitment to bridging opportunity gaps and enabling sustainable growth. He noted, “The backing we’ve received from a diverse group of blue-chip partners is a powerful endorsement of Africa’s place as the purest, most asymmetric source for non-consensus alpha and transformative impact.
We’re not just investing in startups; we’re empowering innovators to solve chronic non-consumption challenges and drive economic evolution.” Aina further emphasized that Africa’s challenges present its biggest opportunities, and through Fund II, the company aims to support resilient founders building “painkiller” solutions that address real infrastructure and market needs. Ventures Platform will also strengthen its operations in Francophone Africa and expand into North Africa, while doubling down on its investments in Nigeria and the broader sub-Saharan region.
Driving Inclusive Growth and Strategic Partnerships
The launch of Fund II marks a significant step in deepening Nigeria’s position as a leading innovation hub. Dr. Olasupo Olusi, Managing Director and CEO of the Bank of Industry, highlighted the government’s commitment through the iDICE initiative. “By investing in Ventures Platform’s Fund II, which serves as iDICE’s Technology Equity Fund for Nigerian startups, we are catalyzing strategic investments in high-growth, technology-enabled enterprises and contributing to Nigeria’s broader economic transformation agenda,” he said. Other key partners also reaffirmed their confidence in Ventures Platform’s leadership.
Standard Bank’s Nimalan Reddy expressed pride in continuing the partnership, while Proparco CEO Françoise Lombard described the fund as a strong signal of investor faith in Africa’s tech ecosystem. IFC’s Global Director for Disruptive Technologies, Farid Fezoua, added that supporting Fund II will accelerate scalable solutions in fintech, health, education, and agriculture, helping African startups transition from concept to growth while creating jobs and strengthening local value chains. Since its inception in 2016, Ventures Platform has backed over 90 startups, including high-performing companies such as Moniepoint, PiggyVest, OmniRetail, Thrive Agric, and Remedial Health.
Many of these firms have achieved international recognition, with Moniepoint becoming one of Africa’s newest unicorns and Remedial Health making Time’s 2025 list of the World’s Top Health Companies. With Fund II, Ventures Platform is not only strengthening its pan-African presence but also shaping the next generation of market-creating innovations. The firm’s strategy combines local expertise, data-driven insights, and post-investment value creation to build an interconnected ecosystem where African startups can thrive globally.As Aina put it best, Africa’s innovation journey has only just begun, and Ventures Platform is determined to fuel the continent’s most promising minds in building solutions that redefine the future of business and technology.
