Partech Africa II reaches oversubscribed first close at $262M
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Doubling down on the success of its first pan-African fund, Partech has secured $262 million for the first close of its second Africa fund.
Venture capital firm Partech has raised $262m for the first close of its Partech Africa Fund II, exceeding its original goal of $250m. The firm launched its Africa-focused strategy in 2018 with its first fund of $133m, which has since grown to include 17 companies operating in 27 African countries. Partech Africa Fund II will focus on over 20 Series A and B companies in fintech, healthtech, logistics, mobility, and edtech. The fund's limited partners come from diverse backgrounds, including development finance institutions, corporations, and family offices, among others. Partech Africa Fund II is targeting a final close of no more than $300m.
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