Partech closes its second Africa fund at $300M+ to invest from seed to Series C

In a landscape where the vibrancy of Africa's tech ecosystem meets the chilling winds of global economic shifts, Partech Africa stands as a beacon of resilience and ambition. The successful closing of Partech Africa II at a staggering €280 million ($300 million+) not only shatters initial targets but also marks a pivotal moment of defiance against the receding tides of venture capital within the continent. Amidst a significant downturn in funding, with a drop of 50% in investor activity in 2023 compared to the year before, this monumental fund size speaks volumes about Partech's commitment and optimism towards African innovation.

The statistics from Partech's own report depict a sobering picture of decreased investments across all stages, from seed to growth. Yet, amidst this financial ebb, Partech Africa's strategic focus on nurturing startups from seed to Series C shines as a promising lifeline. This lifeline, embodying both stability and support, is critical in navigating the current financial quagmire. Cyril Collon and Tidjane Deme, the visionary leaders behind the fund, emphasize the importance of being able to lead rounds across these crucial stages of startup development. The inclusion of vibrant cities like Dakar, Nairobi, Lagos, and Dubai in Partech Africa's operational radar reflects a deep-seated belief in the region's untapped potential.

From leading the seed round for South Africa's Revio, to embarking on ventures in Egypt and Senegal, Partech Africa's strategic investments across fintech, agtech, healthtech, and more, paint a picture of a future where African entrepreneurship thrives against odds. With over 20 companies in its sights and a diversified investor base buoying its sails, Partech Africa II is more than just a fund; it's a testament to the enduring spirit of African innovation.

Let's keep a keen eye on Partech Africa's journey, as it continues to catalyze growth and resilience within the heart of Africa's burgeoning tech ecosystem.