Partech Africa II reached its first close at €245M to support the next generation of category leaders across the continent. The fund closed above its target fund size, demonstrating the trust and support placed in Partech’s African strategy by major existing investors. “We launched this strategy when less than $400M were invested annually in equity on the continent. African tech companies are now raising $6B annually”, said Partech General Partner Tidjane Deme.
Building on the success of the first Partech Africa fund, which attracted 10%+ of the investment in Africa in 2021 and 2022, this fund’s strategy will be very similar. The team will be leading and co-leading rounds with cheques ranging between $1M and $15M, whilst also doubling down on its strategic and operational support.
