NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Global technology investment firm Partech announced the first closing of Partech Africa II at €245 million (about $262 million) – already above the target fund size. This second iteration of Partech’s Africa-focused strategy is backed by major Development Finance Institutions, as well as Institutional and Commercial investors.

Partech Africa II will double-down on its successful strategy to identify and support the next generation of category leaders across the continent. The fund will provide $1 million to $15 million initial tickets from seed to growth to support entrepreneurs who use a combination of technology and excellent operations to address some of the hard-to-solve but very large opportunities the continent offers across all sectors.

“We had set an ambitious goal for Partech Africa II at €230 million, with a hard cap at €280 million­, essentially doubling the size of our first fund. We overreached it with a closed amount already above the target fund size,” comments Cyril Collon, general partner at Partech Africa.