By Edo Michael
Ventures Platform, has announced the first close of its $40 million Pan-African fund to invest in market-creating ideas. Venture Platform is an Abuja based startup and innovative hub for African early-stage investment fund that supports innovative companies.
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This was made known through a social media post on their active Facebook handle. The post reads;
“It’s been a wonderful week for Kola Aina and the entire Ventures Platform team as we’ve just successfully raised $40 million to invest in marketing-creating ideas.
We are grateful to all who continue to support our vision and look forward to more of such wins.”
The Nigeria Sovereign Investment Authority (NSIA) led this close. It also saw participation from UAC Nigeria, VFD Group, Gbenga Oyebode, Shola Akinlade (Paystack), and global investors like Michael Seibel (Y Combinator) and Adam Draper.
Kola Aina, Founder and General Partner, launched Ventures Platform in 2016 to serve as a significant partner and conduit for international funds and stakeholders looking for a dependable and experienced partner to do business in Africa.
Ventures Platform invested in companies like Piggyvest, Paystack, Kudi, Thrive Agric, and My Paddi.
While Ventures Platform was selective in attracting local startups to join in the first close, the second close, scheduled for early 2022, will include participation from a select group of global institutional investors and development finance institutions (DFIs).
As one of the most active early-stage investors in African tech, the company has made 69 investments since its inception. It plans to significantly expand its long-standing presence in Nigeria and West Africa while also investing in select opportunities in East, North, and Francophone Africa that can move into critical West African markets.
