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In today's edition: Ventures Platform closes $84m fund || Kenya’s Musalia Mudavadi wants the country to join global cyber-police || Pick n Pay is making grocery shopping feel like scrolling TikTok || Cameroon sets deadline to disconnect untaxed mobile phones
Ventures Platform, a Nigerian venture capital firm, has successfully closed its second fund worth $84 million. This is approximately double the amount raised during its first fund in 2022. The firm aims to invest larger sums in African startups it backs, potentially up to 12%. The new fund, known as Ventures Platform (VP) Pan-African Fund II, attracted four new investors, including the European Bank for Reconstruction and Development (EBRD), Norway’s development finance institution, Dutch family office Alphatron, and Ashesi University Foundation.
In the past, Ventures Platform has invested in a variety of startups such as Paystack, PiggyVest, Moove, Mono, Remedial Health, and Raenest. These investments are made at different stages, from pre-seed to pre-Series A.
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