Africa-Focused Early-Stage Investor Ventures Platform Raises $64M
TLDR
- Ventures Platform, one of Africa’s most active early-stage venture capital firms, has raised $64 million so far for its second fund
- Backers include the IFC, British International Investment (BII), Proparco, Standard Bank, MSMEDA, AfricaGrow, and prominent family offices
- Its second fund will expand beyond pre-seed and seed rounds to include Series A investments, focusing on larger ownership stakes
Ventures Platform, one of Africa’s most active early-stage venture capital firms, has raised $64 million so far for its second fund, with a final close target of $75 million, according to founding partner Kola Aina.
The raise includes participation from the Nigerian government through its Investment in Digital and Creative Enterprises (iDICE) program — marking the first time Nigeria has invested directly in a VC fund.
Other backers include the IFC, British International Investment (BII), Proparco, Standard Bank, MSMEDA, AfricaGrow, and prominent family offices such as Alder Tree Investment, alongside notable global investors like former Y Combinator CEO Michael Seibel. About 70% of LPs from the firm’s previous fund have re-invested.
Launched in 2016, Ventures Platform has built a reputation for identifying breakout African startups early. Its second fund will expand beyond pre-seed and seed rounds to include Series A investments, focusing on larger ownership stakes and “investing with more conviction.”
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Points clés à retenir
Ventures Platform’s latest raise reinforces investor confidence in Africa’s innovation ecosystem despite a global VC slowdown. The participation of Nigeria’s government through iDICE represents a landmark moment for state-backed venture investing, signaling recognition of startups as key economic drivers. With over 90 portfolio companies across fintech, healthtech, agritech, edtech, and AI, Ventures Platform is known for funding “painkiller businesses” that solve for non-consumption—such as Moniepoint, Paystack, LemFi, and SeamlessHR. The new fund’s broader strategy reflects a shift toward supporting later-stage African startups as local capital formation deepens and foreign funding tightens. Kola Aina said the firm’s first fund ranked among the top global performers by TVPI and IRR for its vintage, helping attract repeat investors. Despite slower exits and liquidity challenges, Aina believes Africa remains a “pure asymmetric play” for long-term, high-upside investors, underpinned by strong demographics, GDP growth, and the rapid digitization of offline sectors.
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