Ventures Platform Closes Second Pan-African Fund at $84 Million

The close brought in several new institutional investors, including the European Bank for Reconstruction and Development (EBRD), Norfund (Norway's development finance institution), Alphatron, and the Ashesi University Foundation. TechCabal described Alphatron as a Dutch family office. A consortium of new family offices also joined the fund.

These backers join limited partners from an earlier first close. TechCabal reported that the first close was $64 million in November 2025, while BitKE's release did not specify that figure. Existing LPs include Nigeria's iDICE programme, the International Finance Corporation (a World Bank Group member), Standard Bank of South Africa, British International Investment, Proparco through the EU-backed Choose Africa programme, Egypt's micro, small and medium enterprise development agency (MSMEDA), AfricaGrow, and Alder Tree Investment.

According to TechCabal, the larger fund will let Ventures Platform write bigger cheques while backing roughly the same number of companies, targeting entry stakes of 10% to 12%. The firm said that ownership target reflects how African venture capital returns money, with secondary sales having become its most reliable route to liquidity.

Kenyan Startup Twiga Foods Enters Administration After Financial Strain

Twiga Foods, one of Kenya's most heavily funded startups, has entered administration following years of financial pressure and restructuring efforts.