Ventures Platform closes $84m Pan-African Fund II
- Ventures Platform closed its second institutional fund at $84 million, exceeding the $75 million target.
- The fund's closure indicates growing institutional confidence in Africa's innovation economy.
- New investors include EBRD, Norfund, and Ashesi University Foundation.
The successful closing of Ventures Platform's second fund is a promising sign for the African startup ecosystem, indicating that institutional investors are beginning to recognize the potential of the continent's innovation landscape. However, the decline in overall funding highlights the need for sustained efforts to attract investment and support for startups.
