AVentures Platform, one of the leading pan-African venture capital firms, has closed on $64 million for its second fund. The firm is shooting for a final close of $75 million. This goal will most definitely entrench its place as one of the continent’s most prolific early-stage investors. Ventures Platform was established in 2016. Since then, it’s developed a reputation as one of the best early stage investors in Nigeria and Africa, funding over 90 companies across Africa.
The firm’s strategy consists of not just deepening its presence in Nigeria but enhancing its expansion into Francophone West Africa and North Africa. Having made investments across Africa, Ventures Platform is committed to diversifying its portfolio. Especially this way, as it lets them plug into the global entrepreneurial ecosystems booming all around Nigeria.
“In Africa, if you’re a global capital allocator looking for true diversification, this is the place,” Aina stated.
Ventures Platform has proven itself as a high return generating fund to LPs. Its prior fund was one of the top global performers, according to TVPI and IRR metrics based on its vintage year. The firm has prudently recycled that capital from its earlier syndicates. Between 2016 and 2022, it made good on four out of six vintages.
The Nigerian government has been an active stakeholder and supporter of Ventures Platform’s initiatives. Here’s how they accomplish this through their Investment in Digital and Creative Enterprises (iDICE) program. This partnership is an example of the shared commitment among the private and public sectors to advance Nigeria’s growing digital economy.
Ventures Platform is on a roll. It remains dedicated to using the local context and a willingness to take the long-term on-ramp to opportunities throughout Africa. Aina remarked, “By 2050, one in four humans will be African. Our GDP growth rate is double that of the U.S., and yet most of the value is still offline. The opportunity is huge if you have the patience and the local context.”
The firm’s portfolio includes notable companies such as Visa-backed unicorn Moniepoint and Stripe-owned Paystack, both of which illustrate Ventures Platform’s strategic investment choices aimed at high-growth potential sectors within the continent.
Focused as much on future potential as past performance, Ventures Platform’s second fund is ideally placed to make the most of Africa’s rapidly-evolving market environment. The firm pursues an active investment strategy in young companies. This commitment inspires and powers its mission to create more access to innovation, opportunity, and economic development throughout North America.
