Ventures Platform Closes Second Fund at $84 Million, Backing Early-Stage African Innovators

Ventures Platform, a leading seed-stage venture capital firm focused on the African market, announced the final close of its second institutional fund, VP Pan-African Fund II (VP PAF II), at US$84 million. This exceeds the original target of $75 million and underscores growing investor confidence in Africa’s technology ecosystem.

Ventures Platform specializes in identifying and investing in early-stage companies that address critical infrastructure gaps and promote economic access across the continent. Their portfolio includes promising startups like Raenest, Fez Delivery, LemFi, Moniepoint, OmniRetail, Paystack, PiggyVest, Remedial Health, SunFi, ThriveAgric, and Verto.

The oversubscribed Fund II attracted new institutional investors including the European Bank for Reconstruction and Development (EBRD), Norfund, Alphatron, and Ashesi University Foundation. These join existing limited partners from Fund I, such as Nigeria’s iDICE program, IFC, Standard Bank, BII, Proparco, MSMEDA, AfricaGrow, and Alder Tree Investment.

With this additional capital, Ventures Platform will expand its investments in pre-seed to Series A rounds while continuing to support portfolio companies through subsequent funding stages. The firm remains committed to backing mission-driven entrepreneurs using technology to drive economic prosperity, inclusion, and access across key sectors like fintech, healthtech, and agritech.

“This fund isn’t about the capital raised but rather the exceptional entrepreneurs we have the privilege of supporting,” said Kola Aina, founding and managing partner at Ventures Platform. “We’re seeing a new generation of founders building resilient companies with strong technical foundations and clear market understanding. These businesses are designed to create lasting value while addressing critical challenges across the continent.”

The closing of Fund II positions Ventures Platform as a key enabler of Africa’s growing technology opportunity, attracting global interest in undercapitalized yet highly resilient markets.