P1 Ventures closes $50 Million fund to back global companies “made in Africa”
- P1 Ventures completed the final close of its first $50 million institutional fund.
- The firm co-invested in Morocco-based Nuitee’s $48 million Series A round as the only African VC alongside Accel.
- P1 Ventures has over $60 million in assets under management (AUM).
P1 Ventures represents a significant shift in the venture capital landscape in Africa, focusing on underrepresented markets and innovative solutions. Their commitment to a contrarian approach amidst declining global funding highlights the potential for growth in the African startup ecosystem. This strategy not only supports local entrepreneurs but also positions Africa as a key player in global innovation.
