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Africa-focused funds find their feet amid a downturn
New African and Africa-focused funds emerged last year, with several of the existing ones receiving fresh backing.
Africa’s venture capital and private equity fund managers secured $2.4 billion across 43 deals across the year, according to data tracker and market insights firm Briter Bridges latest report. The Partech Africa II fund reached its first close of $263 million last year, in startups in various sectors including fintech, health tech, logistics, mobility and edtech. It will invest in businesses in sustainable agriculture, energy, clean mobility, logistics and waste management sectors, which produce basic goods and services that represent a huge proportion of household spending for lower-income communities.
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