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Nigerian venture capitalist, Kola Aina has successfully led his pan-African VC firm, Ventures Platform, to the final close of its early-stage and intercontinental fund, at $46 million, thus surpassing its initial $40-million target.
The oversubscribed fund from one of the continent’s most prolific investors sees new participation from global investors with an array of top-tier commercial banks, corporates, DFIs, global institutional investors, and HNIs, including Standard Bank, International Finance Corporation (IFC), British International Investment, A to Z Impact, Proparco, etc.
Kola Aina, founding partner at Ventures Platform, said: “We are grateful to our new and existing investors who have placed their trust in us and enabled us to exceed our target. This fund will allow us to double down on backing category-leading companies across the continent and provide follow-on capital for portfolio companies.”
In order to better support the companies it invests in, Ventures Platform has established an innovative “platform and networks” practice that will provide scalable and world-class post-investment support and value creation to its portfolio companies.
Since the first close of the fund late last year, the early-stage “discovery” venture capital fund has deployed new capital and follow-on capital into companies across various verticals and regions on the continent, such as Remedial Health, Moni, Notto, and Chargel. It is also actively seeking opportunities in regions such as Kenya, Egypt, and French-speaking West Africa in order to further consolidate its pan-African reach.
Since its founding in 2016, Ventures Platform has leveraged its on the ground presence on the continent and expertise in corporate partnerships, talent, growth, regulation and operations to strengthen the venture capital ecosystem in Africa, acting as a key partner and conduit for international funds and stakeholders.
The firm has invested in more than 60 companies working in fields such as healthcare, financial services, agriculture, education, big data, and internet infrastructure. These companies aim to improve lives, change industries, and advance humanity.
As a leading source of capital, capacity building, support, and advocacy for under-served entrepreneurs, communities, and institutions, Ventures Platform is dedicated to enabling the creation of wealth and development in Africa.
Kola Aina, the founding partner at Ventures Platform, is a key player in the African venture capital space, and the successful close of the fund is a testament to his leadership and vision.
