HomeSenegalPartech Africa II Closes at Above $300M

Partech Africa II Closes at Above $300M

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Partech, a global technology investment firm, closed its second Africa fund, Partech Africa II, at €280M ($300M+).

Overall, the fund has received support from a diverse group of 40+ international investors, from commercial investors such as South Suez and Bertelsmann to family offices, and major Development Finance Institutions (DFIs). DFIs include anchor investor KfW, the German Development Bank, the European Investment Bank (EIB), the International Finance Corporation (IFC), a member of the World Bank Group, FMO, the Dutch entrepreneurial development bank, Bpifrance Investissement, British International Investment (BII), the UK’s development finance institution and impact investor, DEG – Deutsche Investitions – und Entwicklungsgesellschaft mbH and Proparco. Backers also included US and Middle East pension funds and sovereign funds, Africa Re and Dubai Future District Fund (DFDF), who joined existing supporters such as Orange, AXIAN Investment and the African Development Bank Group (AFDB).

Led by General Partners Tidjane Deme, and Cyril Collon, Partech Africa II will continue to invest across Africa with initial tickets ranging from $1M to $15M on Seed to Series C rounds, to support African in education, mobility, finance, healthcare, delivery, and energy companies and founders on their growth journey in both local and international markets. Based in Dakar, Senegal, the fund already counts 3 investments in its portfolio with a real-estate platform in Egypt, a payment orchestration startup in South Africa and an e-commerce platform in Senegal. The team expects to build a portfolio of over 20 companies across the continent.

The firm is also opening a new office in Lagos and is looking to hire more team members including senior investment officer Tito Cookey-Gam. In addition to this expansion, Partech Africa is actively recruiting a senior profile for “Portfolio Strategy & Operations” to drive value creation and exit building, and a Lagos-based Investment Analyst.

The previous fund invested in 17 companies including Wave, Yoco, TradeDepot and Moneyfellows.

VCWire

19/02/2024