Ventures Platform Raises $64 Million Towards $75 Million Target for Second Fund

Ventures Platform, has announced the $64 million first close of its second fund, VP Pan-African fund II, aimed at deepening seed investments, catalysing Series A rounds, and driving its pan-African expansion to power the continent’s next tech wave. The fund is targeting a final close of $75 million.

Approximately 70% of investors from the firm’s previous fund have returned. New and returning investors include the first-of-its-kind participation from the Nigeria Investment in Digital and Creative Enterprises (iDICE) program, alongside International Finance Corporation (IFC), a member of the World Bank Group, Standard Bank (South Africa), British International Investment(BII) – the UK’s development finance institution and impact investor, Proparco through its EU-backed Choose Africa VC program, Micro, Small & Medium Enterprises Development Agency (MSMEDA), and AfricaGrow. The fund also attracted participation from European family offices, including Alder Tree Investment, as well as a consortium of prominent global investors, including Michael Seibel.

The firm launched its first institutional fund of $46 million in 2022, focusing on pre-seed and seed rounds. With VP PAF II, the firm is positioned to further empower Africa’s most promising innovators, driving sustainable economic evolution and solidifying the continent's position as a global leader in innovation while delivering on its mission of democratising prosperity.

‍Founded in 2016, Ventures Platform has earned a reputation for identifying high-growth startups early. Its portfolio includes Paystack (acquired by Stripe) and Moniepoint, both of which have played major roles in advancing financial inclusion and digital payments in Nigeria.