Introduction
Partech, a global investment firm, marks a significant milestone with the final closing of its second Africa-focused fund, Partech Africa II, securing an impressive €280M ($300M+). Alongside this achievement, the firm reinforces its commitment to the African tech ecosystem by establishing a new office in Lagos, Nigeria.
Expansion and Investment Success
The closure of Partech Africa II has not only garnered support from major investors of its predecessor but has also attracted contributions from new investors, reflecting confidence in the Partech Africa platform and the broader African venture capital scene. The oversubscribed final closing has welcomed diverse institutional backing, including pension funds and sovereign funds from the US and Middle East, further enriching the investor base. Notable additions include Africa Re and Dubai Future District Fund (DFDF), aligning with early supporters like Orange, AXIAN Investment, and the African Development Bank Group (AFDB).
Diverse Investor Base
Partech Africa II's success is underscored by the support of over 40 international investors, comprising commercial entities like South Suez and Bertelsmann, family offices, and prominent Development Finance Institutions (DFIs). Anchor investors such as KfW (German Development Bank), the European Investment Bank (EIB), and the International Finance Corporation (IFC) of the World Bank Group, among others, exemplify the fund's broad support base.
Team Expansion and Strategic Vision
The fund's expansion into Lagos coincides with plans to onboard additional team members, reflecting its commitment to driving technological innovation across the continent. Cyril Collon, General Partner at Partech, acknowledges the steadfast support of investors, emphasizing the continuity of commitments from Fund I investors and their increased participation.
Strategic Hiring and Market Dynamics
Partech Africa's strategic recruitment drive includes senior roles such as "Portfolio Strategy & Operations" to enhance value creation and exit strategies, along with an Investment Analyst based in Lagos. This initiative aligns with the evolving landscape of African tech investment, marked by a 50% decline in active investors, as highlighted in the 2023 Africa Tech Venture Capital Report. Collon emphasizes the critical importance of funding across all stages, reflecting the firm's dedication to fostering transformative tech companies that drive economic growth and global innovation.
Partech Africa's Mission and Presence
Partech Africa, headquartered in Dakar, Senegal, stands as a leading venture capital fund dedicated to supporting technology startups across the continent. With a focus on equity rounds spanning from Seed to Series C, the fund targets startups reshaping various sectors, including education, mobility, finance, healthcare, and energy.
Global Reach and Collaborative Approach
Partech, headquartered in Paris, operates globally with offices in Berlin, Dakar, Lagos, Dubai, Nairobi, and San Francisco. The firm's independent thinking and collaborative ethos underpin its approach, prioritizing founder support and shared success. With a 40-year history and €2.5 billion in assets under management (AUM), Partech boasts a diverse portfolio spanning 220 companies across 40 countries, offering capital, operational expertise, and support across all growth stages.
