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Investing in tech start-ups in Africa
Project
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Signature date
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Location
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Egypt, Nigeria, Senegal, Multi-country Africa
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Financing tool
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Financing amount (Euro)
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12000000
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Financing details
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EUR 12m Equity Investment
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Customer
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PARTECH AFRICA II S.L.P.
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Type of customer
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Investment fund
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Country of headquarters
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France
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Project number
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PZZ1640
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco is investing in Partech Africa II S.L.P. to support tech start-ups in Africa
Client presentation
Partech Africa II S.L.P is a fund dedicated to equity investments in tech start-ups in Africa. Partech Africa II is Partech’s second Africa fund. The first fund was supported by several DFIs and has a promising portfolio. The Partech Africa II team has two partners, two principals and three associates.
Project description
The fund mainly targets Pre-series A, Series A and Series B investments. The fund does not exclude opportunistic investments during Series C and E rounds. The fund has a target size of EUR 230m and a planned lifespan of between 10 and 12 years, with an investment period of between 5 and 6 years.
Project impact
Through its investee companies, the fund should support some 1,100 jobs. It will thereby contribute to the achievement of SDG 8 “Decent work and economic growth”.