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Ventures Platform Closes its Pan-African Fund Above its Initial Target – at $46M

15Dec

By Africa BusinessNo Comments

Business

Ventures Platform Closes its Pan-African Fund Above its Initial Target – at $46M

Ventures Platform, the pan-African VC firm championing the next generation of African technology entrepreneurs, has today announced the final close of its early-stage and intercontinental fund, at $46M. Surpassing its initial $40M target, the oversubscribed fund from one of the continent’s most prolific investors sees new participation from global investors with an array of top-tier commercial banks, corporates, DFIs, global institutional investors and HNIs, including Standard Bank, International Finance Corporation [IFC], British International Investment, A to Z Impact, Proparco with FISEA, AfricaGrow a Fund of Funds backed by BMZ [German Ministry for Economic Cooperation and Development, DEG and Allianz, managed by Allianz Global Investors], and others. The new fund will see Ventures Pl...

Ventures Platform Secures First Close of US$40mn Pan-African Fund

Ventures Platform, the early-stage “discovery” venture capital fund championing the next generation of African entrepreneurs, has announced the first close of its new US$40m Pan-African, early-stage fund to invest in market-creating innovations. With this close led by the Nigeria Sovereign Investment Authority (NSIA), the new fund features participation from existing investors and some new leading names across Africa’s corporate and tech ecosystems, including UAC Nigeria, VFD Group, Gbenga Oyebode, Shola Akinlade (Paystack), and global investors like; Michael Seibel (Y Combinator) and Adam Draper. A second close of the fund is due to take place in early 2022 and will feature investment from select global Institutional Investors and DFI’s. Building upon its stellar reputation as one of the...

Ventures Platform Foundation launches applications for Gov Labs

VPF & National Endowment for Democracy call for tech solutions to protect Nigerians’ human rights during COVID-19 response Ventures Platform Foundation (VPF), the social impact arm of Ventures Platform Hub, has launched a call for applications for its latest incubation programme, Gov Labs - a 12-week programme for tech solutions implementing accountability and transparency within the Nigerian government’s COVID-19 response. Created with support from the National Endowment for Democracy (NED), the new initiative will support Civil Society Organizations from across Nigeria as they build innovative solutions promoting good governance and wide scale access to public services. From the pool of applicants, five organisations will be selected and will each receive a $2,500 grant as well as ac...