By Dean Workman
Cyril Collon and Tidjane Dème, the two General Partners dedicated to Partech Africa.
On 18 January 2018, global investment firm, Partech Ventures, announced the launch of its Partech Africa fund, which has already secured above $70 million towards its target size of $120 million, making it the first technology fund of such size from a top tier international Venture Capitalists to be exclusively dedicated to the fast‐growing tech ecosystem in Africa.
According to the firm, Partech Africa intends to focus on early stage growth funding, providing $600 thousands to $610 million initial tickets to talented African teams using tech to address large emerging market opportunities. Partech Africa is a generalist tech fund with target industries ranging from Financial Inclusion (Fintech, InsurTech, new distribution models) to online and mobile consumer services (commerce, entertainment, education, digital services), as well as mobility, supply chain services and digitisation of the informal economy.
The fund launches in the context of an emerging and fast‐growing market. “Tech VC investment in Africa, with ticket sizes from 200K to $40M, has grown almost 10x from $40M in 2012 to $367M in 2016, and is already growing faster than projected $1B annually by 2020” explains Cyril Collon, General Partner of Partech Africa. Click here to read entire article
Source:: IT News Africa