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Partech Cements Commitment to African Tech with $300M Fund and Lagos Launch


Global investment firm Partech made waves by securing $300 million for its second Africa-focused fund, Partech Africa II. This impressive hard cap highlights rising investor appetite for the continent’s burgeoning tech landscape.

In conjunction with the fund announcement, Partech opened a new office in Lagos, Nigeria’s bustling startup hub. This strategic expansion cements the firm’s commitment to the region after deploying over $400 million across 100 African startups since 2012.

The oversubscribed final fund close draws momentum from new institutional capital flowing in from pension funds, sovereign funds and corporations in the US and Middle East. Africa Re and Dubai Future District Fund were notable first-time participants, joining early supporters like Orange, AXIAN and the African Development Bank who reinforced their commitment.

In total, Partech Africa II won backing from an expansive group of over 40 international investors. This diverse coalition includes development finance institutions like KfW, EIB, IFC, FMO, Bpifrance, British International Investment, DEG and Proparco.

Cyril Collon, General Partner at Partech, expressed gratitude for the overwhelming support, with almost all predecessor fund investors reinvesting. Some even doubled their commitments, validating Partech’s strategy and success.

This vote of confidence comes at a crucial time, as active African venture investors decline 50% amidst market uncertainties, per Partech’s 2023 VC report. Collon stressed the importance of securing funding across all stages to nurture tech companies that can drive transformation.

Aligned with their ambitious fundraising, Partech plans to further build out its team by hiring additional investment professionals and support staff for the Lagos hub. This on-the-ground presence will enable closer diligence and value-add as the firm’s regional portfolio expands.

The Senegal-based firm targets startups reshaping major sectors like education, healthcare, energy and finance across Africa. Its ethos embraces collaboration and a methodology-agnostic approach focused on addressing founders’ needs.

With 40 years of experience stemming from San Francisco roots, Partech now manages $2.8 billion in assets globally. Its diverse 220+ company portfolio across 40 countries highlights an enduring commitment to entrepreneurs from seed to growth stages.

Between fresh capital, strategic hiring and enhanced regional presence, Partech has doubled down on the enormous potential of African innovation. Its latest milestones set the stage to fund the next generation of startups tackling local challenges while expanding globally.



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