Business & Finance
Ventures Platform closes $83 million fund for early-stage African startups
The Nigerian venture capital firm raised an oversubscribed second fund to expand investments in fintech, healthcare, and AI across Africa.
The short version
- Pan-African venture capital firm Ventures Platform raised $83 million for its oversubscribed second fund.
- The firm plans to issue checks up to $3 million over the next three to four years for early-stage startups in sectors such as fintech, healthcare, SaaS, and AI.
- Ventures Platform is broadening its geographic reach beyond Nigeria to target markets including Kenya, South Africa, and Egypt.
Key facts
- Ventures Platform raised an oversubscribed second fund totaling $83 million, following a $46 million initial fund raised in 2022.[TechCrunch]
- The fund will deploy checks up to $3 million over three to four years into early-stage companies across fintech, healthcare, SaaS, and artificial intelligence.[TechCrunch]
- The firm has already backed five companies based in Egypt, Kenya, and South Africa from the new fund.[TechCrunch]
- Investors in Fund II include the European Bank for Reconstruction and Development, Norfund, and Ghana’s Ashesi University Foundation, with 70% of limited partners from Fund I returning.[TechCrunch]
- African startups have raised approximately $930 million across more than 200 deals in 2026, compared to $1.16 billion across 447 deals in 2025.[TechCrunch]