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Partech Africa II Fund Hits Target Surpassing $300 Million

Partech Africa II aims to foster the growth of African companies and founders, both domestically and internationally.

By Inc.Arabia Staff
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Partech, a global technology investment firm, has concluded the final closing of its second Africa-focused fund, Partech Africa II, surpassing its hard cap at €280 million (over $300 million).[1]

The oversubscribed final closing has attracted a diverse array of global institutions, including pension funds and sovereign funds from the US and the Middle East. Noteworthy additions to the investor base include Africa Re and Dubai Future District Fund (DFDF), joining early supporters such as Orange, AXIAN Investment, and the African Development Bank Group (AFDB).

Partech Africa II has secured backing from over 40 international investors, spanning commercial investors like South Suez and Bertelsmann, family offices, and prominent Development Finance Institutions (DFIs) such as KfW, the European Investment Bank (EIB), and the International Finance Corporation (IFC).

With a strategic focus on investments ranging from $1 million to $15 million in Seed to Series C rounds, Partech Africa II aims to foster the growth of African companies and founders, both domestically and internationally. The fund has already made three investments, including a real estate platform in Egypt, a payment startup in South Africa, and an e-commerce platform in Senegal, with plans to expand its portfolio to over 20 companies across the continent.

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