Ventures Platform has secured $64 million in first-close commitments for its second institutional fund, VP Pan-African Fund II, marking one of the largest early-stage VC raises on the continent this year.
The fund aims for a $75 million final close by Q1 2026, deepening its presence in Nigeria and expanding into North and Francophone Africa.
This isn’t just another raise; it’s a statement about the maturity of Africa’s capital markets, the confidence of global investors, and the growing appetite to scale homegrown solutions despite a tough global funding climate.
From Seed to Scale: Bridging Africa’s “Valley of Death”
Building on the success of its $46 million debut fund (closed in 2022), PAF II represents an evolution in Ventures Platform’s playbook.
While its first fund focused primarily on pre-seed and seed-stage startups, PAF II is designed to lead and catalyse Series A rounds, addressing the notorious funding gap where many African startups stall for lack of follow-on capital.
The timing couldn’t be better: after a dip in 2024, African VC funding is rebounding in 2025, with projections showing aggregate investment volumes surpassing last year’s totals.
A Powerful Mix of Backers: Local Muscle Meets Global Confidence
PAF II’s strength lies in its diverse and excellent lineup of limited partners (LPs). About 70% of investors from Fund I recommitted, an extraordinary vote of confidence, while new LPs include:
- iDICE (Nigeria’s Digital and Creative Enterprises Program) marks the Nigerian government’s first direct investment in a VC fund.
- International Finance Corporation (IFC)
- Standard Bank (South Africa)
- British International Investment (BII)
- Proparco’s Choose Africa VC Initiative
- Egypt’s MSMEDA
- AfricaGrow, Alder Tree Family Office, and a consortium led by Y Combinator’s Michael Seibel.
This blend of DFIs, commercial banks, and global tech veterans brings capital and credibility. DFIs see the fund as a lever for job creation and youth empowerment, aligning with national priorities like Nigeria’s economic transformation agenda.
“By investing in Ventures Platform’s Fund II, we are deepening the Federal Government’s objective of upscaling Nigeria’s technology and creative sectors,” said Dr. Olasupo Olusi, MD/CEO of the Bank of Industry, which implements iDICE.
IFC’s Farid Fezoua echoed this, calling the fund “a platform to unlock resilient growth and expand opportunities for small businesses and young people.”
Targeting “Painkiller” Startups, Not Vitamins
PAF II’s thesis is sharply defined: back “painkiller” innovation startups solving existential problems for Africa’s next billion consumers. The fund focuses on fintech, healthtech, agritech, edtech, and AI, where gaps in access, affordability, and infrastructure remain vast.
Geographically, Ventures Platform will deepen its footprint in Nigeria, expand into Francophone West Africa, and push into North Africa. Its approach remains founder-centric, offering operational guidance, governance support, and strategic de-risking long after the cheque clears.
A Proven Track Record: From Moniepoint to PiggyVest
Since 2016, Ventures Platform has backed 90+ startups, many of which have grown into category leaders:
- Moniepoint: Now a unicorn and one of Africa’s largest fintechs.
- LemFi: The cross-border payments startup transforming remittances.
- SeamlessHR, Thrive Agric, Raenest, and Remedial Health: redefining HR tech, agriculture, and healthcare logistics.
Recognition is global:
- Remedial Health made TIME’s 2025 World’s Top HealthTech Companies list.
- PiggyVest appeared on CNBC’s 2025 Top Fintech Companies.
- OmniRetail topped the Financial Times 2025 Africa’s Fastest-Growing Companies ranking.
Each milestone reinforces Ventures Platform’s ability to identify and nurture category-defining ventures built for scale and impact.
READ ALSO:Why IFC’s $6M Bet on First Circle Matters for African Fintech
Kola Aina’s Vision: Finding “Non-Consensus Alpha”
For Founding Partner Kola Aina, PAF II is about backing bold founders solving hard problems:
“Africa remains the purest, most asymmetric source for non-consensus alpha and transformative impact,” he said. “With VP PAF II, we’re broadening our reach and deepening our focus on discovering and empowering innovators.”
Aina describes Ventures Platform’s capital as “smart, contextual, and catalytic,” backed by deep local insight and post-investment support that drives sustainable growth.
Why It Matters: Fuelling Africa’s Innovation Engine
As global venture markets cool, Ventures Platform’s PAF II stands out as a confidence beacon. It bridges the seed-to-Series A gap, empowers mission-driven founders, and reaffirms Africa’s resilience as a tech frontier.
The message is clear: capital is maturing, founders are scaling, and ecosystems are integrating. For founders building the next generation of African “painkillers,” Ventures Platform isn’t just a fund; it’s a partner in building enduring impact.
In Aina’s words, this is more than venture capital; it’s venture creation for Africa’s billion-plus future.
Ventures Platform: Driving Africa’s Innovation Economy
Ventures Platform is a leading African venture capital firm investing in early-stage startups across fintech, healthtech, and digital infrastructure. Through Ventures Platform IV LP, the firm continues scaling its pan-African investment strategy.
It regularly posts Ventures Platform jobs and fellowship opportunities for professionals passionate about startup growth and venture building.
The firm’s impact report highlights measurable outcomes from portfolio companies driving innovation, inclusion, and sustainable economic growth across Africa.
Ventures Platform Overview
Ventures Platform is a leading pan-African early-stage venture capital firm backing tech startups that drive innovation and economic transformation. The firm focuses on fintech, digital infrastructure, and enterprise solutions across Africa.
- Ventures Platform Jobs: The firm offers opportunities in venture investing, portfolio management, and startup support. Open roles are often listed on its official careers page and LinkedIn.
- Ventures Platform Impact Report: Highlights the firm’s contributions to Africa’s startup ecosystem, including funding milestones, portfolio performance, and social impact metrics.
- Ventures Platform IV LP: The latest institutional fund under Ventures Platform, continuing its mission to scale high-potential African startups through capital, mentorship, and ecosystem building.
Key Focus: Empowering Africa’s next generation of innovators through strategic investment and sustainable impact.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, climate change, and digital finance at Africa Digest News.
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