Nigeria based Ventures Platform raises $64m first close of second fund

Team S · 2025-11-10T18:34:44.000Z

Ventures Platform, a Lagos-based early-stage African investor, has raised $64 million for its second fund, targeting a final close of $75 million. Notably, the Nigerian government invested through its iDICE program, marking its first investment in a VC fund. Other limited partners include IFC, British International Investment, Proparco, Standard Bank, MSMEDA, AfricaGrow, European family offices like Alder Tree Investment, and former Y Combinator CEO Michael Seibel. Founded in 2016, Ventures Platform previously launched a $46 million fund in 2022 focused on pre-seed and seed rounds. The current fund will also target Series A investments with larger ownership stakes. The firm has invested in over 90 startups, including Visa-backed Moniepoint and Stripe-owned Paystack. Despite a slowdown in African tech funding from $5 billion in 2021 to $2 billion in 2024, Ventures Platform has attracted local and global LPs, recycling capital and showing strong fund performance. The firm is expanding in Francophone West and North Africa and views Africa as a high-upside opportunity with significant long-term growth potential.

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Nigeria based Ventures Platform raises $64m first close of second fund | Newnex