Ventures Platform, a Pan-African venture firm headquartered in Nigeria, has successfully raised an oversubscribed $83 million for its second fund. This new fund marks an expansion of the firm's investment strategy beyond its home market.
The firm intends to back early-stage founders across various sectors, including fintech, healthcare, and SaaS. Ventures Platform's founding partner, Kola Aina, stated a particular interest in AI where it can alter the economics of serving African markets by reducing service costs and addressing labour shortages. The firm aims to deploy this capital over the next three to four years, with individual check sizes reaching up to $3 million.
Ventures Platform has already made five investments from Fund II in companies located in Kenya, South Africa, and Egypt. This follows their first fund in 2022, which raised $46 million with a more limited scope primarily focused on pre-seed and seed rounds.