Partech Closes funds at Over $300 Million, Opens New Office In Lagos

Partech, the global technology investment firm, has announced the final closing of its second Africa fund.

According to the statement, the fund closed at a hard cap of  over $300 million      (€280M)

Partech Africa II reached its final closing with all major investors from its predecessor fund(Partech Africa I) reinvesting,  and other top tier investors making their first commitment into the Partech Africa platform.

Expressing gratitude,Cyril Collon, General Partner at Partech said;

We are grateful for the support and commitment of our investors: almost all Fund I investors reinvested and some, more than doubled their commitment”,

 He added “We are also honored to get the support from a new set of strategic investors from the US, the Middle East and Africa, and for some of whom, this marks their first commitment in African Tech.”

The Investors 

The fund attracted support from a diverse group of over 40 international investors. These include commercial investors,family offices, global institutions, new strategic investors and major Development Finance Institutions (DFIs).

1.   Investors from Partech Africa I : Orange, AXIAN Investment and the African Development Bank Group (AFDB).

2.  The new categories of global institutions include The US and Middle East pension funds and sovereign funds.

3.  New strategic investors are  Africa Re and Dubai Future District Fund (DFDF)

4.  Commercial investors such as South Suez and Bertelsmann

5 . The DFIs include

Investing

According to the tech investment firm, Partech Africa II will double down on its strategy of investing across Africa to support African companies and founders on their growth journey in both local and international markets. 

The initial tickets will range from $1M to $15M on Seed to Series C rounds.

The Fund already has 3 investments in its portfolio; a real-estate platform in Egypt, a payment orchestration startup in South Africa and an e-commerce platform in Senegal.

 More will be added as the team expects to build a portfolio of over 20 companies across the continent.

LAGOS OFFICE

Partech also announced that its team is expanding as it loosens a new office in Lagos, Nigeria. 

Tidjane Deme, General Partner at Partech mentioned this in his statement. He said;

We are also expanding our team and footprint on the continent. We are excited to have senior investment officer Tito Cookey-Gam join the team, to open our office in Lagos, home to almost a third of our portfolio”.

Recruiting 

 The investment firm  is actively recruiting.

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