A global investment firm, <a href="https://partechpartners.com/" data-type="URL" data-id="https://partechpartners.com/" target="_blank" rel="noopener">Partech</a> has announced the final closing of its second Africa-focused fund, Partech Africa II, at an impressive hard cap of €280M ($300M+). The firm has also announced the establishment of its new office in Lagos, Nigeria, further solidifying its commitment to the African tech landscape 
The investment company has not only secured commitments from all major investors from its predecessor fund but has also attracted investors making their contributions to the Partech Africa platform and the broader African venture capital ecosystem. 
An oversubscribed final closing has opened doors to a new wave of global institutional support, with US and Middle East pension funds and sovereign funds becoming part of the investor base. Notably, this diverse pool now includes investments from Africa Re and <a href="https://dfdf.vc/" data-type="URL" data-id="https://dfdf.vc/" target="_blank" rel="noopener">Dubai Future District Fund (DFDF)</a>, aligning with existing early supporters such as Orange, AXIAN Investment, and the African Development Bank Group (AFDB). 
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Partech Africa II’s success is acknowledged by the backing of over 40 international investors, involving commercial companies like South Suez and Bertelsmann, family offices, and prominent Development Finance Institutions (DFIs). Key among the DFIs are anchor investor KfW (German Development Bank), the European Investment Bank (EIB), the International Finance Corporation (IFC) of the World Bank Group, FMO (Dutch Entrepreneurial Development Bank), Bpifrance Investissement, British International Investment (BII), DEG – Deutsche Investitions – <a href="https://www.deginvest.de/" data-type="URL" data-id="https://www.deginvest.de/" target="_blank" rel="noopener">und Entwicklungsgesellschaft mbH,</a> and Proparco. 
In conjunction with this achievement, the expansion goes hand-in-hand with plans to onboard additional team members to drive the firm’s vision for technological advancement and innovation on the continent. 
According to Cyril Collon, General Partner at Partech, “We are grateful for the support and commitment of our investors: almost all Fund I investors reinvested and some, more than doubled their commitment.” 
In addition to this expansion, Partech Africa is actively recruiting a senior profile for “Portfolio Strategy &amp; Operations” to drive value creation and exit building, and a Lagos-based Investment Analyst. 
Speaking on this, Partech Africa II’s recent closing announcement aligns with a 50% decline in active investors in the African tech ecosystem, as highlighted in <a href="https://partechpartners.com/news/presenting-the-2023-partech-africa-report-a-rough-year-for-the-ecosystem" data-type="URL" data-id="https://partechpartners.com/news/presenting-the-2023-partech-africa-report-a-rough-year-for-the-ecosystem" target="_blank" rel="noopener">its 2023 Africa Tech Venture Capital Report. </a> 
Collon stressed the increased significance of securing funding at all stages, from Seed to Early Growth, in the current environment. This shows their dedication to supporting the development of tech companies that can drive transformative impact in African economies and contribute to global innovation. 
Read More: <a href="https://technext24.com/2022/12/07/frenchs-partech-closes-seed-fund-120m/" data-type="URL" data-id="https://technext24.com/2022/12/07/frenchs-partech-closes-seed-fund-120m/">Global VC Firm, Partech closes €120m fourth seed funding round</a> 
<h4 id="partech-is-fostering-tech-innovation-across-africa" class="wp-block-heading">Partech is fostering tech innovation across Africa </h4> 
Partech Africa, based in Dakar, Senegal, is a prominent venture capital fund specifically focused on supporting technology startups across Africa. The fund invests in equity rounds spanning from Seed to Series C, targeting startups that are reshaping technology applications in various sectors such as education, mobility, finance, healthcare, delivery, energy, and more. 
Partech, a global tech investment firm headquartered in Paris, operates with offices in Berlin, Dakar, Lagos, Dubai, Nairobi, and San Francisco. The firm embraces independent thinking, avoiding constraints imposed by trends or fixed methodologies. 
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Their approach emphasizes collaboration, working closely with the founders they support, and sharing the pursuit of success. With a 40-year history originating in San Francisco, Partech currently manages €2.5 billion in assets under management (AUM) and has a diverse portfolio of 220 companies across 40 countries on four continents, providing capital, operational experience, and support from seed to growth stages. 
Read More: <a href="https://technext24.com/2023/02/07/partech-closes-e245m-africa-focused-fund/" data-type="URL" data-id="https://technext24.com/2023/02/07/partech-closes-e245m-africa-focused-fund/">Partech closes first-of-its-kind, largest Africa-focused fund at €245 million.</a>

Partech secures $300m to invest in Africa, expands operations into Lagos with new office

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