March 22

African VC Firm P1 Ventures Completes 2nd $35 Million Close of Fund II

By Tom Jackson

Local VC P1 Ventures has completed a second close of US$35 million for its Fund II, in the process welcoming the World Bank’s International Finance Corporation (IFC) as its first public institutional investor.

Founded in 2020, P1 Ventures is a high-conviction investor on a mission to back Africa’s best entrepreneurs, aiming to support founders utilising emerging technologies, such as Generative AI, to disrupt mainstream industries, from healthcare to retail and agriculture.

Source: Disrupt Africa (link opens in a new window)

agtech, artificial intelligence, healthcare technology, venture capital