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Ventures Platform, one of Africa’s most active early-stage investors, has raisedanother $64 million
Lagos-based Ventures Platform has raised $64 million for its second fund, targeting a $75 million close. Notably, the Nigerian government is among the investors, marking its first investment in a VC fund. Founded in 2016, Ventures Platform focuses on early-stage startups, particularly in Nigeria, fintech, and other sectors, amid a challenging funding environment for Africa's tech ecosystem.
Key points
- Ventures Platform raised $64 million for its second fund, with a target of $75 million.
- The Nigerian government invested, being its first venture capital investment.
- 70% of previous fund investors returned for the new fund.
- The firm aims to invest in Series A rounds, enhancing ownership stakes.
- Historically, they’ve funded over 90 startups, focusing on fintech, healthtech, agritech, edtech, and AI.
- Concerns exist regarding funding shortages in the African startup ecosystem with a significant drop from $5 billion to $2 billion last year.
Why it matters
- The Nigerian government’s investment signals increased confidence in local venture capital.
- The growth of fintech in Africa highlights innovation in addressing market gaps.
- Zebras (sustainable startups) versus unicorns debate reflects shifting focuses in funding.
- In 2025, venture capital in Africa is crucial as the region aims for capital diversification amid global economic volatility.
Ventures Platform's successful fund raising underscores Nigeria’s growing startup ecosystem and potential for innovation, while signaling a significant shift with government engagement in venture capital, crucial for the region's financial future.