Ventures Platform raises $84 million for a broader second Africa fund

Pan-African venture firm Ventures Platform has closed an $84 million second fund and plans to invest beyond Nigeria. The move signals continued investor interest in African startups and a wider geographic focus for the firm.

Ventures Platform goes bigger — and broader — with its second Africa fund

Ventures Platform has raised $84 million for its second Africa fund, according to TechCrunch. The Pan-African venture firm says it plans to invest in startups beyond its home market of Nigeria, broadening its reach across the continent.

For developers and startup teams tracking funding trends, the announcement matters for two reasons. First, it shows that capital is still flowing into African startups despite a tougher global funding environment. Second, a broader mandate from a known regional fund can create more opportunities for founders outside Nigeria to access institutional backing.

The fundraise suggests Ventures Platform is positioning itself as a more continental investor, not just a Nigeria-focused one. That could make it a more relevant source of capital for startups building software, infrastructure, and other products for African markets.

Source: TechCrunch