{"id":1958,"date":"2021-12-17T16:00:00","date_gmt":"2021-12-17T15:00:00","guid":{"rendered":"https:\/\/ancstockinvestments.com\/blog\/?p=1958"},"modified":"2021-12-17T12:39:55","modified_gmt":"2021-12-17T11:39:55","slug":"ventures-platform-secures-first-close-40-million-pan-african-fund","status":"publish","type":"post","link":"https:\/\/ancstockinvestments.com\/blog\/2021\/12\/17\/ventures-platform-secures-first-close-40-million-pan-african-fund\/","title":{"rendered":"Ventures Platform Secures First Close of $40 Million Pan-African Fund"},"content":{"rendered":"\n<p>Ventures Platform, the early-stage \u201cdiscovery\u201d venture capital fund championing the next generation of African entrepreneurs, has announced the first close of its new $40 million Pan-African, early-stage fund to invest in market-creating innovations.\u00a0<\/p>\n\n\n\n<p>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\u2019s 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.&nbsp;<\/p>\n\n\n\n<p>A second close of the fund is due to take place in early 2022 and will feature investment from select global Institutional Investors and DFIs.&nbsp;<\/p>\n\n\n\n<p>Over the last six years, Ventures Platform has backed close to 70 of Africa\u2019s most compelling tech companies, building a robust portfolio that has featured one of the largest exits the venture capital space has witnessed to date through Paystack last year.<\/p>\n\n\n\n<p><em>\u201cAs the incredible momentum in African tech continues to build, it&#8217;s attracting unprecedented attention globally amongst traditional and institutional investors, and we\u2019re delighted to welcome aboard some world-class, strategic stakeholders to our fund,\u201d<\/em> said Kola Aina, Founder and General Partner at <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.venturesplatform.com\/\" target=\"_blank\">Ventures Platform<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"632\" data-src=\"https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2021\/12\/Kola-Aina-Founder-and-General-Partner-at-Ventures-Platform--1024x632.jpeg\" alt=\"Ventures Platform Secures First Close of $40 Million Pan-African Fund\" class=\"wp-image-1959 lazyload\" data-srcset=\"https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2021\/12\/Kola-Aina-Founder-and-General-Partner-at-Ventures-Platform--1024x632.jpeg 1024w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2021\/12\/Kola-Aina-Founder-and-General-Partner-at-Ventures-Platform--300x185.jpeg 300w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2021\/12\/Kola-Aina-Founder-and-General-Partner-at-Ventures-Platform--768x474.jpeg 768w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2021\/12\/Kola-Aina-Founder-and-General-Partner-at-Ventures-Platform--1536x947.jpeg 1536w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2021\/12\/Kola-Aina-Founder-and-General-Partner-at-Ventures-Platform--2048x1263.jpeg 2048w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2021\/12\/Kola-Aina-Founder-and-General-Partner-at-Ventures-Platform--1200x740.jpeg 1200w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2021\/12\/Kola-Aina-Founder-and-General-Partner-at-Ventures-Platform--1980x1221.jpeg 1980w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/632;\" \/><figcaption>Kola Aina, Founder and General Partner at Ventures Platform<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Ventures Platform doubles down on investments<\/strong><\/h2>\n\n\n\n<p>Building upon its stellar reputation as one of the most active early-stage investors in African tech, Ventures Platform will significantly deepen its long-standing presence in Nigeria and West Africa while also investing in select opportunities in East, North &amp; Francophone Africa &#8211; that have the potential to expand into West Africa\u2019s key markets.&nbsp;<\/p>\n\n\n\n<p>The fund\u2019s latest capital injection also firmly positions it to double down on existing investments in its category-leading portfolio via subsequent rounds.<\/p>\n\n\n\n<p>Since its launch in 2016, Ventures Platform has acted as a key partner and conduit for international funds and stakeholders seeking a reliable and experienced partner to do business in Africa.&nbsp;<\/p>\n\n\n\n<p>The Pan-African fund has a ground presence on the continent and has experience with corporate partnerships, talent, growth, regulation, and operations.\u00a0<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Also Read: <a href=\"https:\/\/ancstockinvestments.com\/blog\/2021\/12\/09\/cinetpay-secures-2-4-million-seed-funding\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Francophone Africa Payments Processor, CinetPay, Secures $2.4 Million in Seed Funding (opens in a new tab)\">Francophone Africa Payments Processor, CinetPay, Secures $2.4 Million in Seed Funding<\/a><\/h5>\n\n\n\n<p>This new fund introduces the benefit of strong local LP participation and strengthens Ventures Platform\u2019s ability to institutionalize its track record of collaborating with LPs and investors from North America, Europe, and Asia, who need a reliable partner to work alongside when investing in the African technology space.&nbsp;<\/p>\n\n\n\n<p>As part of a move to further deepen its expertise, Ventures Platform has also onboarded leading figures across African tech as Venture Partners, including; Seni Sulyman (ex-VP at Andela, ex-COO at Bellhop, Founder at Black Ops.)<\/p>\n\n\n\n<p><em>\u201cAs operators ourselves, we know what it takes to build a successful business on the continent, and we\u2019ve spent years partnering with visionary founders effectively tackling some of Africa\u2019s hardest problems &#8211; now is the time to go even further,\u201d<\/em> Kola Aina said.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The road ahead<\/strong><\/h2>\n\n\n\n<p>With a ticket size of up to $1 million+, Ventures Platform is now positioned to fund follow-on rounds of successful startups building market-creating innovations across pre-seed, seed, and Series A stages in sectors including fintech, healthtech, enterprise SAAS, digital infrastructure, and more.<\/p>\n\n\n\n<p>Amassing a total of 28 investments to date in 2021 alone, the platform\u2019s portfolio of 69 startups is one of the most elite in African tech with high-profile names including Seamless HR, Piggy Vest, Mono, and Paystack &#8211; which Stripe <a href=\"https:\/\/techcrunch.com\/2020\/10\/15\/stripe-acquires-nigerias-paystack-for-200m-to-expand-into-the-african-continent\/\">acquired in October 2020<\/a> for $200 million+.<\/p>\n\n\n\n<p>To date, Ventures Platform\u2019s portfolio has raised over $500 million in follow-on rounds. As the investor moves to consolidate its leading market position, this marks its first official institutional fund with previous capital resulting from syndicate and proprietary capital funds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the latest development, Abuja- and Lagos-based Ventures Platform has announced the first close of its $40 million pan-African fund.<\/p>\n","protected":false},"author":3,"featured_media":1959,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"content-type":"","inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,3,4],"tags":[41,16,308,44,307],"series":[],"ppma_author":[463],"class_list":["post-1958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-investments","category-startup","tag-funding","tag-investment","tag-pan-african-fund","tag-startup-funding","tag-ventures-platform"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ventures Platform Secures First Close of $40 Million Pan-African Fund<\/title>\n<meta name=\"description\" content=\"In the latest development, Abuja- and Lagos-based Ventures Platform has announced the first close of its $40 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