Ventures Platform closes $84m Fund II, beats $75m target with new investors
Ventures Platform closed its second pan-African fund at $84 million, surpassing the $75 million target. New investors include the European Bank for Reconstruction and Development (EBRD), Norfund, Alphatron and the Ashesi University Foundation. They join existing backers such as Nigeria's iDICE programme, the International Finance Corporation (IFC), Standard Bank South Africa, British International Investment (BII), Proparco via the EU-backed Choose Africa VC programme, the MSMEDA, AfricaGrow and Alder Tree Investment.
This oversubscribe shows growing institutional confidence in Africa's tech ecosystem despite a cautious global venture capital climate, allowing the firm to boost its pre-seed to Series A investments and back founders building technology-driven solutions to the continent's economic and social challenges.
The fund adds to Ventures Platform's track record—having supported Moniepoint, PiggyVest, OmniRetail, Raenest and Seamless Technologies—and the firm says it remains a top investor in 2026 amid a funding drought, having taken part in 56 deals according to Nairametrics. For founders seeking early-stage capital, this signals continued availability of seed financing; for investors, it reinforces the case to allocate more to African early-stage ventures. Will you aim for this fund's backing for your pre-seed or Series A round, and what milestones will you need to attract such investors?