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Partech newsletter: €125M for African startups!
Feb. 18, 2019
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In this issue we will focus on our Partech Africa fund that reached its final closing at €125M ($143 M), above its hard cap and one year after its first closing at €57M. We can’t wait to support many African entrepreneurs in their endeavors to change the way technology is used in education, mobility, finance, delivery, energy, etc.
You will also find plenty of positive news about our portfolio companies, even if we could not include it all. As they’re growing and hiring, they publish job offers on pur website's Job Board, please check it out regularly!
Oh! and by the way, we were happy to be included in the list of the Top 5 investors in Europe's Series A rounds, compiled by PitchBook. Thank you Pitchbook!
Have a great read!
The Partech Team
So, our Partech Africa Fund achieved its final closing at €125M - $143M. It is the largest VC fund dedicated to technology start-ups in Africa.
Our fund is backed by an amazing group of more than 40 different investors, including institutional investors: the EIB, the IFC, the German development bank KfW, Averroès Finance III (a fund of funds managed by Bpifrance & Proparco) the Dutch development bank FMO and the AfDB; as well as leading players from all sectors: Orange, Edenred, Bertelsmann, L’Oréal together with successful African champions such as Axian Group and TEXAF. Partech Africa will also leverage the experience of over 25 successful entrepreneurs who have committed to support a new generation of game changers through the fund.
Our first 4 investments in 2018 are doing really well (including Yoco and TradeDepot, which “provide strong showcases of how these champions can transform whole sectors such as retail and payments in this region” as stated by Cyril Collon) and there is more to come!
We also announced the strengthening of our presence on the ground with East Africa office and new hires: Ceasar Nyagah, who joined the team of Cyril Collon, Tidjane Deme and Matthieu Marchand. “After launching the Dakar office last year, it is also key for us to set a base in East Africa with a Nairobi office now”, explained Tidjane Dème.
New portfolio company
Ambler raised €1.5M ($1.69M). Ambler is the first smart network of medical transporters in France: it organizes the offer of the best providers (private ambulances, medical transportation operators and approved taxis) in order to meet the demand from healthcare institutions and individuals in a transparent and optimized way. The company intends to use the funds to recruit engineers to develop its tech platform as well as an operational team to develop its network on the field.
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