Pan-African venture firm Ventures Platform has secured an oversubscribed $83 million second fund, marking a broader push beyond Nigeria and into a wider range of African markets.
The firm says the new capital will support early-stage founders across sectors such as fintech, healthcare, SaaS, and other areas where technology can improve access to essential services and help build durable businesses.
AI is also a central part of the strategy. Founding partner Kola Aina said the firm is especially focused on companies using AI to reshape the economics of serving African markets, lower delivery costs, and unlock new business models.
Compared with its Fund I in 2022, which closed at $46 million and concentrated mainly on pre-seed and seed rounds, the new fund has a wider geographic mandate. Ventures Platform has already invested in five companies across Kenya, South Africa, and Egypt, with individual checks of up to $3 million planned over the next three to four years.
Aina noted that today's fundraising climate is more selective, with investors asking sharper questions about performance, portfolio design, liquidity, and long-term discipline. He said this shift is encouraging stronger fundamentals and more resilient company building across the ecosystem.
So far this year, African startups have raised about $930 million across more than 200 deals. Ventures Platform's latest raise also reflects continued confidence from existing backers, with 70% of Fund I investors returning for Fund II, including the European Bank for Reconstruction and Development, Norfund, and the Ashesi University Foundation.
As Africa's startup landscape matures, funds that combine local insight with regional reach may shape the next generation of innovation and growth.
