Doubling down on its successful African strategy, Partech Africa II reaches 1st close at €245M, above target fund size.

Doubling down on its successful African strategy, Partech Africa II reaches 1st close at €245M, above target fund size.

February 7th, 2023

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Dakar, Paris, San Francisco, February 7, 2023. Partech, the global technology investment firm, announces the first closing of Partech Africa II at €245M, already above the target fund size. This second iteration of Partech’s Africa-focused strategy is backed by major Development Finance Institutions, as well as Institutional and Commercial investors. Partech Africa II will double-down on its successful strategy to identify and support the next generation of category leaders across the continent. The Fund will provide $1M to $15M initial tickets from Seed to Growth to support entrepreneurs who use a combination of technology and excellent operations to address some of the hard-to-solve but very large opportunities the continent offers across all sectors.

“We had set an ambitious goal for Partech Africa II at €230M, with a hard cap at €280M, essentially doubling the size of our first fund. We overreached it with a closed amount already above the target fund size.” comments Cyril Collon, General Partner at Partech Africa. “This would not have been possible without the trust and the support from our major existing investors. We are honoured that top-tier global institutions and strategic commercial investors have decided to back Partech Africa II.”
Partech Africa II can rely on a diversified and international set of investors with all major DFIs, including anchor investor KfW, the German Development Bank, joined by European Investment Bank (EIB), International Finance Corporation (IFC), member of the World Bank Group,  FMO, the Dutch entrepreneurial development bank,  Bpifrance Investissement, British International Investment (BII), DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH and Proparco, as well as commercial investors such as South Suez and Bertelsmann.
“With Partech Africa II, our investment thesis is actually to pursue the successful strategy of our first fund.” explains Tidjane Dème, General Partner at Partech Africa. “We launched this strategy when less than $400M were invested annually in equity on the continent. African tech companies are now raising $6B annually validating our early commitment beyond any expectations. Still, we know there are many more champions to build in Africa and we are ready to support them.”
In 2018, Partech announced the launch of its Africa-focused strategy with a first Fund of €125 million. Today, the portfolio counts 17 companies started in 9 African countries and now operating in 27 countries on the continent. These category leaders are bringing value to 1M+ merchants and 20M+ end users, across a large set of sectors from Fintech to Healthtech, Logistics and Edtech. This portfolio has attracted 10%+ of the investment in Africa in 2021 as well as in 2022. 
Building on the first fund’s learnings, Partech Africa will continue to lead and co-lead rounds with a larger ticket range ($1M to 15M), co-investing with the best regional and global players, playing an active role in bringing financial, strategic, and operational support to African founders. 
To execute on this strategy, the team, led by Cyril Collon and Tidjane Dème and comprised of Marie Benrubi, Sabrine Chahrour, Lewam Kefela, Matthieu Marchand, based in Dakar, Nairobi and Dubai, is expanding into new locations. It is augmented by Partech’s robust global platform with 3 members dedicated to Partech Africa: Romane Assou, Léa Gnaly and Alhou Maiga. This platform provides support across key functions such as Business Development & Portfolio Support, Founders Community, ESG, Finance, Compliance, and Legal.
This notable first close marks the launch of Partech Africa II and represents a solid vote of confidence in the African start-up ecosystem. After years of continuous growth, the African continent continue to attract even more global attention and capital. 


About Partech Africa
With a team headquartered in Dakar, Senegal, Partech Africa is the largest VC fund dedicated to technology startups in Africa. Partech Africa focuses on series A and B equity rounds in startups which are using technology to transform Financial Service, Commerce, Education, Mobility, Healthcare, etc. …

About Partech
Born in San Francisco 40 years ago and now headquartered in Paris, Partech is one of the most active global tech investors in the world, bringing together capital, operational experience, and strategic support for entrepreneurs at seed, venture and growth stages. The firm manages more than €2.5B and its current portfolio includes more than 210 companies across 40 countries in Africa, Asia, Europe and the US.

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Isabelle Tresson: +33 7 86 08 85

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