African venture capital firm Ventures Platform has secured $64 million in the first close of its second pan-African fund, targeting a total of $75 million to support early- and growth-stage tech startups across the continent.

The raise drew backing from major institutional investors including the IFC, British International Investment (BII), Proparco, Standard Bank, AfricaGrow, and MSMEDA. Nigeria’s government-backed iDICE programme via the Bank of Industry also participated, marking its first investment in a VC fund.

Building on its first fund, Ventures Platform will expand beyond pre-seed and seed deals to include Series A investments, focusing on fintech, healthtech, agritech, edtech, and AI ventures that serve underserved markets.

While Nigeria remains its base, the firm plans to deepen activity in Francophone West and North Africa.

The milestone underscores renewed confidence in Africa’s startup ecosystem despite global venture slowdowns. Visit www.jocomms.com for more news.