African startups have secured a fresh vote of confidence from investors as Nigerian venture capital firm Ventures Platform closes its second fund at $84 million.
The fund surpassed its initial $75 million target and will support early stage technology companies across Africa. Ventures Platform plans to invest in sectors including fintech, healthcare, artificial intelligence, agritech, commerce and software.
The firm will invest from the pre seed stage through Series A, with investments of up to $3 million per company. It is also expanding beyond its traditional Nigerian focus, with plans to back founders across markets including Kenya, South Africa and Egypt.
The latest fund brings Ventures Platform’s total institutional capital raised to more than $130 million, strengthening its position as one of Africa’s leading early stage investors.