Ventures Platform Raises $64M to Boost Africa’s Startup Ecosystem

Ventures Platform, one of Africa’s leading early-stage investors, has wrapped up the first close of its second fund, pulling in a tidy USD 64 million. The new fund—VP Pan-African Fund II—has its sights set on a final close of USD 75 million, giving Ventures Platform extra fuel to back emerging innovators across the continent. The idea is simple but bold: to double down on seed deals, help promising startups reach Series A, and ride the next big tech wave sweeping through Africa.

Founding Partner Kola Aina said the fund’s mission is to track down and support entrepreneurs tackling the continent’s long-standing “non-consumption” challenges—essentially, those gaps where communities simply don’t have access to affordable or suitable products. As he pointed out, it’s about finding the innovators who build for the many, not the few.

The investor roster behind this fund is a who’s who of global and regional players. The first close attracted heavyweights such as the International Finance Corporation, British International Investment, Proparco, and the AfricaGrow fund, alongside Nigeria’s iDICE programme and MSMEDA. There’s even interest from European family offices like Alder Tree Investment and global backers including Y Combinator’s Michael Seibel—quite the mix, really.

I’ve seen so many early-stage founders across MENA and sub-Saharan Africa struggle with scaling. It’s often a bit of a faff to find investors who truly understand local hurdles—poor infrastructure, limited digital access, or unpredictable regulation. So, I reckon a fund with this kind of cross-border ambition could make a serious dent in that problem, especially if it stays grounded in on-the-ground realities.

Ventures Platform isn’t just casting a wide net geographically; it’s also stepping up sector-wise. The team plans to focus on fintech, healthtech, agritech, edtech, and AI—sectors where solving everyday problems often sparks exponential growth. There’s a renewed emphasis too on Francophone and North African markets, with Aina’s team looking to build on its existing presence in Nigeria, which remains a cornerstone of Africa’s startup scene.

And believe it or not, the long-term goal isn’t just returns—it’s about reducing risks for follow-on investors. By leading and catalysing Series A rounds, Ventures Platform hopes to make African startups more attractive to global capital, which could, in turn, speed up job creation and digital transformation.

At Arageek, we’ve always been a bit chuffed to bits watching how funds like this can change entire ecosystems. I still remember chatting with a Tunisian founder who told me she’d have given up on her idea if an early-stage investor hadn’t taken a punt on her in year one. That’s the kind of belief this new fund seems to be betting on—patient, bold, and undeniably transformative.

So yes, there’s a fair bit of optimism in the air. The only thing left is execution—because, well… talk is cheap, but cheques aren’t. And if Ventures Platform hits its USD 75 million target, it might just prove spot on timing for the next generation of African entrepreneurs who are redefining what’s possible across the continent.

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