In February, Partech, the global VC firm that has backed companies like TradeDepot and Wave, fully closed ‘Partech II,’ a €280 million Africa-focused fund—the largest on the continent. It was a delightful turn of events for the VC firm that initially targeted raising €230 million, and for a continent that saw VC funding decline by 46% in 2023.
Partech Africa II attracted significant interest from individual and international institutional partners, such as family offices and development finance institutions (DFIs). This is partly attributed to Partech’s regional experience, as evidenced by the $500 million acquisition of a portfolio company Sendwave, and the attainment of unicorn status by Wave, another portfolio company.
The VC fund is led by general partners Tidjane Dème and Cyril Collon, who, before joining Partech, operated several businesses in Africa. They joined the VC firm in 2016—three years before its first Africa-focused VC fund, Partech Africa I, closed at $143 million.
Partech Africa II invests across various sectors, with current holdings in e-commerce, healthcare, and real estate. The previous fund invested…
Ngozi Chukwu
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https://techcabal.com/2024/04/20/partech-300m-vc-fund-exits/
