The venture capital company Partech has closed its second African fund worth $262 million.
Partech Africa II is designed to provide support to the next generation of entrepreneurs. The Fund closed after exceeding the target. This is stated in the message published by the venture company.
Partech General Partner Tidjane Deme said that the firm’s active activity in supporting technology startups in Africa began at a time when the volume of annual investments in this industry on the mainland was less than $ 400 million. He also noted that African technology companies are currently attracting financing of $6 billion annually.
The Partech team will also lead the rounds with checks from 1 to 15 million dollars and provide strategic and operational support.
Cyril Collon, General Partner of Partech, said earlier in January during a conversation with journalists that in terms of potential, African technology startups are among the most promising in the world.
Sirin Kolln says that while the fintech sector received the largest venture capital funding in Africa in 2022, logistics and supply chains, healthcare technology, agricultural technology, and EdTech have also demonstrated unprecedented growth.
In January, Partech published a report that contains information that startup financing in Africa increased by 8% last year compared to 2021. This report says that the African technology ecosystem has a high level of sustainability because investors are strengthening their commitments to the continent.
Global Ventures partner Said Murad says that start-up technology companies in Africa and the Middle East are initially focused on ensuring maximum sustainability. For this reason, they prefer complex financing systems. Said Murad stressed that for emerging markets, the emphasis on creating a business focused on sustainable development is a characteristic feature.
As we have reported earlier, Visa Expands Investments in Africa to Accelerate Digital Transformation.