Ventures Platform, backed by the World Bank Group’s International Finance Corp. (IFC), raised $84 million to expand its financing for startups across the continent.
The amount raised for its second institutional fund exceeded the $75 million target and includes new investment from the European Bank for Reconstruction and Development and Norway’s Norfund, the firm said in a statement on Wednesday.
Lagos-based Ventures Platform — which also counts top African lender Standard Bank Group Ltd. among its backers — was established in 2016 and has funded more than 90 startups across the region, focusing on sectors including, fintech, health and agriculture, founding partner Kola Aina said in an interview.
“Our thesis is to back companies that create new markets and convert non-consumers into consumers,” he said.
Ventures Platform supports early-stage startups across the continent that is home to some of the fastest-growing economies and the most youthful population in the world.
The firm was an early investor in unicorn Moniepoint and Paystack, Aina said.
“All of those companies were tackling problems that were large and significant,” he said.
African startups raised $3.3 billion in the first six months of 2026, up 73% from a year earlier and the strongest first-half performance in a decade, according to research firm Briter.
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