Partech hits first close of largest Africa-focused fund, at €245M

Partech, the global VC firm with several funds, has reached first close of Partech Africa II at €245 million (~$263 million), making it the largest Africa-focused fund yet. 
The firm, which focuses on early- and growth-stage startups across the continent, intended to raise about €230 million (~$250 million) for its second African fund and reach a first close at €150 million, according to general partners Tidjane Deme and Cyril Collon. However, overwhelming interest from LPs meant Partech Africa II surpassed what was initially set for the entire fund at first close. To add, the African fund wil

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