Partech, a global investments platform, has successfully completed the final closing of its Partech Africa fund, reaching €125M ($143M), significantly surpassing its initial closing of €57M ($70M) a year prior. This achievement firmly establishes the Partech Africa fund as the largest Venture Capital (VC) fund exclusively dedicated to technology startups across the African continent by a top-tier international VC firm. This substantial increase in capital reinforces Partech's position as a pivotal platform for tech financing in Africa.

The successful closure was made possible through the robust support of over 40 diverse investors from around the globe. This impressive roster includes major financial institutions such as the European Investment Bank (EIB), the International Finance Corporation (IFC), Averroès Finance III, the German Development Bank, the Dutch Development Bank, and the African Development Bank Group. On the corporate side, the Partech Africa Fund garnered backing from prominent entities like Bertelsmann, L’Oréal, Axian Group, and TEXAF, who joined the fund’s pioneering early investors, demonstrating broad confidence in Africa's burgeoning tech ecosystem.

Looking ahead, the Partech Africa Fund has ambitious plans to deploy its capital strategically, intending to make 20 to 25 investments across approximately 10 different countries over the coming years. The fund will primarily target Series A and B financing rounds, focusing on startups that are pioneering technological advancements in critical sectors such as education, mobility, finance, delivery, and energy. Additionally, Partech has indicated it will also consider seed-funding opportunities, specifically in the $500,000 range, to support early-stage innovations.

The firm has already initiated its investment activities, having made two key investments in 2018. These include a $3 million investment in Nigeria’s logistics startup, TradeDepot, and a $16 million investment in South Africa’s fintech innovator, Yoco. General Partner Cyril Collon expressed immense pride, stating, “We are really proud to see major global investors rally around our vision and ambition to support extraordinary entrepreneurs building digital champions for Africa and emerging markets. Our first investments in Yoco and TradeDepot provide strong showcases of how these champions can transform whole sectors such as retail and payments in this region.” Partech anticipates closing even more deals in 2019.

In a strategic move to bolster its operational capabilities and expand its presence across the continent, Partech Africa has been actively growing its team. Two new Investment Officers have joined General Partners Cyril Collon and Tidjane Dème. Matthieu Marchand, who previously worked with the Partech Growth Fund, joined the Africa team as Investment Officer in 2018. More recently, in January 2019, Ceasar Nyagah joined as Investment Officer and is based in Nairobi, Kenya, specifically tasked with strengthening Partech Africa’s presence and activities in East Africa. Tidjane Dème highlighted the significance of this expansion, commenting, “This is a pioneering work in Africa and we are very excited to onboard key talents such as Matthieu and Ceasar and work hard with them to set the standards for a new generation of Africa-based investors. After launching the Dakar office last year, it is also key for us to set now a base in East Africa with a Nairobi office.” Furthermore, the team will be augmented by a business development officer, whose role will be to facilitate the rapid exposure of African startups to European and US markets.