VC investor hits trail with fund II

France-based early-stage investor Partech Ventures is working on plans to launch its sophomore Africa-focused specialist vehicle.

The investor is working on plans to launch Partech Africa Venture Capital Fund II (Partech Africa II), a close-end vehicle. The fund size is yet to be disclosed.

International Finance Corporation (IFC) is working on plans to commit approximately $26.7 million (€25 million) to the vehicle.

The IFC commitment will not exceed 20% of the total commitments to the fund.

IFC is a return LP, having committed €15 million to Partech’s maiden vehicle, Partech Africa Fund as an anchor investor. The fund closed at €125 million in 2019, beating the €100 million it was initially searching for.

The vehicle which raised capital from over 40 LPs and had a €57 million first close in 2018.

Meanwhile, the European Investment Bank (EIB) is also looking to sign up for an undisclosed ticket size to Partech Africa II.

EIB is also a return LP having committed €10 million to Partech Africa Fund in 2017.

Cyril Collon is general partner at Partech.

Tidjane Dème is also general partner at Partech.

Partech Africa II will back early-stage high-growth small and medium-sized corporates, across Africa.

The vehicle will back seed to series D investment rounds, and will also look to back follow-on deals.

Partech Africa II will primarily focus on companies operating in the technology space, on the continent.

Full fund details will be available shortly