The Netherlands based FMO has agreed to provide €25-million limited partner investment in the Partech Africa Fund (specifically Fund II). The fund focuses on early-stage funding to talented African teams using technology based solutions with scale in Africa. Partech Africa Fund is a generalist tech fund with interests in various tech supported businesses and has seen a growing opportunity to add value in the African market.

Partech Africa launched a US$122-million fund in 2018 from among others Averroes Finance, European Investment Bank (EIB) and the International Finance Corporation (IFC). The fund is managed by Cyril Collon and Tidjane Dème who invest in startups with solutions to the mobility, supply chain, consumer services, fintech as well as startups that leverage off the informal economy.