Partech Ventures launches Africa fund and office
9 February 2018
Paris-based VC firm Partech Ventures raised $70 million for an Africa fund and opened an office in Dakar, Senegal. The firm — with more than 250 investments and 45 exits globally — pooled financial support from partners such as IFC, European Investment Bank and Averroes Finance III.
Partech managing partners Cyril Collon and Tidjane Deme (a Google Africa alum) will manage the new fund. “The focus will be tech startups that harness large emerging market opportunities with their main activity in Africa,” Partech’s Tidjane Deme told TechCrunch. “We’ll look for opportunities in financial inclusion, mobile and online consumer services, mobility, supply chain services and digitization of the informal economy.” Initial funding rounds will be Series A or B, with the possibility of follow-on rounds to well-performing companies, according to Deme.
Partech plans to hit the ground interviewing startup candidates soon. All of Africa is open, but Deme said they’ll expect to recruit a number of ventures in countries such as Nigeria, Ghana, Kenya, Tanzania, South Africa, Ivory Coast and Cameroon.