Ventures Platform secures $83 million for second pan-African fund, broadening beyond Nigeria

Ventures Platform announced the closing of an $83 million second fund, which was oversubscribed and reflects a more disciplined venture environment. The Nigeria-headquartered firm plans to support early-stage founders in fintech, healthcare, SaaS and AI-driven models, allocating up to $3 million per investment over the next three to four years. Aina highlighted that AI is valued when it reshapes cost structures rather than merely adding features.

The new fund expands geographically, already deploying capital to startups in Kenya, South Africa and Egypt, and broadens its mandate beyond the domestic market. Fundraising took about 18 months, with limited partners asking tougher questions about returns, liquidity and manager discipline after a recent venture bust. The firm’s first $46 million fund proved its institutional-scale approach, and 70 % of its LPs have committed to the second fund, which includes backers such as the European Bank for Reconstruction and Development, Norfund and Ashesi University Foundation.