The Partech Africa fund, launched in January 2018 by Partech Ventures, dedicated to financing African digital startups and based in Dakar, Senegal, announced the closing of its fund with €125 million, more than double its first closing (€57 million in January 2018).
Nearly 40 investors participated, including financial institutions such as the EIB, IFC, KfW, FMO and the AfDB, says Partech, which also announces its presence in East Africa and Rwanda.
According to the Disrupt Africa report, African start-ups received a record amount of funding with $334.5 million in 2018, up 71.5% from 2017. These financings were directed towards 210 startups (+32.1%), 58 of which came from Nigeria, the continent’s leading investment destination. South Africa and Kenya follow. By sector, observes Disrupt Africa, Fintechs are the first choice of investors, with about 40% of them, alongside education, e-commerce, health, transport, logistics and agro-technology technologies.
As for Partech Africa, it invested in 2018 in the Nigerian logistics platform TradeDepot and the South African Fintech Yoco.