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  One year after it closed its first round at $40 million in the pan-African investment fund, Ventures Platform, an early-stage firm, has today disclosed that it has closed its target fund at $46 million—above its initial target.
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The over-the-top fund had the participation of the world’s leading investors with a convocation of global commercial institutions, corporates, DFIs, multinational institutional investors and HNIs, including Standard Bank, International Finance Corporation [IFC], British International Investment, A to Z Impact, Proparco with FISEA, AfricaGrow a Fund of Funds backed by BMZ (German Ministry for Economic Cooperation and Development, DEG and Allianz, managed by Allianz Global Investors). According to the Founder and General Partner of the Platform, Kola Aina, who disclosed: “
This is a crowning close to an eventful year in which we made substantial advancements both in the tactical and the proprietary interventions that catalyze our portfolio companies.”
In a statement seen by, the VC company will expend the fund on backing a cohort of category-leading companies across the continent and will also make follow-on investments for portfolio companies, up to Series A.
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Ventures Platform further revealed that it is “actively seeking opportunities” in Kenya, Egypt, and Francophone West Africa. The VC firm founder noted
“We look forward to helping our portfolio companies maximize their full potential whilst also consolidating on our position as a key and dependable business partner for investors in Africa,”
Ventures Platform had made new and follow-up investments in several companies across different sectors, including Remedial Health, Moni, Notto, and Chargel since its first close of the fund in December 2021. Following its launch in 2016, the pan-African VC giant has over 60 active investments, including Nomba (formerly Kudi), Reliance HMO, Brass, MarketForce, Mono and Piggyvest to add to the successful exit of Paystack—acquired by Stripe in 2020. In expressing optimism, Kola Aina added that the company will remain calculated with the fund.
“We recognize the tougher macroeconomic climate at present and whilst we remain cautious in terms of market dynamics and remain grounded in our long-standing belief in proper due diligence and corporate governance, we are also acutely aware that with our investment thesis, which is centred on market-creating innovations that thrive when value-chains and markets are restructured, there continue to be incredible opportunities across the market,”
he said.
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With a focus on funding market-creating innovations that optimize for non-consumption, Ventures Platform has undoubtedly accrued one of the hugest technology start-up portfolios in Africa. Investing from the pre-seed stage up to Series A, the fund invests in startups across multiple sectors, ranging from Fintech, Insurtech, Life Science and Health Tech, Edtech and Digital talent accelerators, Enterprise SaaS, Digital Infrastructure Plays, Agritech and Food Security.
“The investment strategy of AfricaGrow is funding Private Equity and Venture Capital funds domiciled and active in Africa, which is both challenging and very rewarding. In Ventures Platform we have found an excellent partner generating real impact on the ground by building successful companies utilising their deep experience, network and local expertise. We are looking forward to fruitful cooperation,”
Martin Ewald, Lead Portfolio Manager Allianz Global Investors, Impact Investmof ents, said. Featured Image Source: The Habari Network
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This article was first published on 18th December 2022


Nnaemeka is an academic scholar with a degree in History and International Studies from the University of Nigeria, Nsukka. He is also a creative writer, content creator, storyteller, and social analyst.

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