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By Monica Muema
Ventures Platform has announced the first close of its new US$40m Pan-African, early-stage fund to invest in market-creating innovations.
With this close led by the Nigeria Sovereign Investment Authority (NSIA), the new fund features participation from existing investors and some new leading names across Africa’s corporate and tech ecosystems, including UAC Nigeria, VFD Group, Gbenga Oyebode, Shola Akinlade (Paystack), and global investors like; Michael Seibel (Y Combinator) and Adam Draper.
A second close of the fund is due to take place in early 2022 and will feature investment from select global Institutional Investors and DFI’s.
Kola Aina, Founder and General Partner at Ventures Platform, says, “Over the last six years, we’ve backed close to 70 of Africa’s most compelling tech companies, building a robust portfolio which has featured one of the largest exits our sector witnessed to date through Paystack last year.
As the incredible momentum in African tech continues to build, it’s attracting unprecedented attention globally amongst traditional and institutional investors, and we’re delighted to welcome aboard some world-class, strategic stakeholders to our fund.”