Partech Closes Its Second Africa Fund At $300M+ to Invest in Series C
![Partech Closes Its Second Africa Fund At $300M+ to Invest in Series C](https://d3wo5wojvuv7l.cloudfront.net/t_square_limited_480/images.spreaker.com/original/1530d0e642b06517a9893769a9381458.jpg)
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Descripción
Partech has closed its second Africa fund, Partech Africa II, at $300 million+, just one year after reaching its first close. Partech Africa, which originally targeted €230 million before its...
mostra másPartech Africa, which originally targeted €230 million before its fundraising efforts started, solidifies its position as the largest fund dedicated to African startups.
Amidst a backdrop of global VCs and institutional investors pulling back from Africa, Partech Africa’s recent fund closure is significant.
The continent witnessed a notable decline in investor activity, with a 50% decrease in 2023 compared to the previous year, as highlighted in a Partech report.
This retreat, influenced by global economic shifts and local challenges, translated into reduced venture capital inflows for African startups, totalling between $2.9 billion and $4.1 billion last year, down from $4.6 billion to $6.5 billion in 2022.
Información
Autor | Africa Business Radio |
Organización | Africa Business Radio |
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