Growth-focused African technology companies seeking a major institutional investor may consider Partech Africa, the Africa-focused investment strategy of global technology investment firm Partech.

Partech Africa backs technology and technology-enabled businesses from seed to Series C. Its ability to invest across several stages makes it relevant to companies raising their first substantial institutional round as well as established startups preparing for regional expansion.

This is venture capital rather than a grant. Partech typically invests in exchange for equity and may lead or co-lead a financing round alongside other regional and international investors.

What Is Partech Africa?

Partech launched its dedicated Africa investment strategy in 2017. Its Africa team is based on the continent and combines local market experience with Partech’s international network.

The fund invests in entrepreneurs using technology and strong operational execution to address large commercial opportunities across Africa. It is pan-African and broadly sector-agnostic.

Partech has offices in African technology hubs including Dakar, with its wider investment platform providing access to international expertise, investors and business-development relationships.

How Large Is the Partech Africa Fund?

Partech Africa II reached its final close in February 2024 at €280 million, equivalent to more than $300 million at the time of the announcement.

The fund was oversubscribed and received commitments from development-finance institutions, strategic investors, pension funds and sovereign investors.

Its size allows Partech Africa to make meaningful initial investments and retain capital for follow-on rounds as portfolio companies grow.

How Much Does Partech Africa Invest?

Partech Africa’s current fund criteria state that it makes initial investments of approximately €1 million to €15 million.

The fund invests from seed to Series C and may act as the lead or co-lead investor in a financing round.

A startup raising less than €1 million may be too early for the main Partech Africa strategy unless there is a special co-investment structure. Companies approaching Partech should ensure that their requested round size and stage align with the fund’s current mandate.

Which Startups Does Partech Africa Fund?

Partech Africa invests in technology-enabled businesses across sectors. It looks for entrepreneurs combining technology with strong operational execution to address large markets.

Relevant areas may include:

• Fintech;
• Digital commerce;
• Enterprise software;
• Logistics and supply-chain technology;
• Mobility;
• Healthcare;
• Education;
• Consumer platforms;
• Financial infrastructure;
• Climate and energy solutions.

Its African portfolio has included companies such as Wave, TradeDepot, Sendwave and Yoco.

Sector alone is not enough. The business must show the potential to become a category leader and develop a defensible position in one or more African markets.

What Does Partech Africa Look for?

Partech Africa wants founders who can combine technical innovation with excellent operational delivery.

A competitive company should have a large addressable market, strong customer demand and a product capable of scaling across countries or customer segments.

Seed-stage applicants should demonstrate early product-market fit through revenue, repeat usage, customer retention, transaction growth or strong pilot results. Later-stage applicants should provide detailed evidence of market leadership, improving unit economics and an effective regional expansion strategy.

The management team should also understand regulation, governance and the operational realities of scaling in African markets.

Preparing a Partech Africa Pitch Deck

The deck should state the company’s financing stage and proposed round size immediately. This helps the investment team determine whether the opportunity matches its €1 million-to-€15 million entry range.

Founders should include:

• The customer problem;
• Product and technology;
• Market size;
• Business model;
• Revenue and growth;
• Customer retention;
• Unit economics;
• Competitive advantage;
• Expansion strategy;
• Management team;
• Funding request;
• Use of proceeds.

Avoid describing the opportunity only as “Africa is a large market.” Break the opportunity down by country, customer group and realistic obtainable market.

Later-stage founders should also provide audited or reliable management accounts, cohort performance, governance structure and detailed projections.

Does Partech Africa Have an Application Form?

Unlike several early-stage funds, Partech Africa does not currently display a dedicated public founder-application form on its website.

Its official contact page provides the Africa team’s email address for enquiries. Founders should send a concise introduction and pitch deck, clearly stating the company’s stage, sector, headquarters, countries of operation, revenue level and current fundraising round.

View Partech Africa’s official investment criteria

Visit the official Partech contact page

Founder enquiries for the Africa team can be directed to contactafrica@partechpartners.com.

Because Partech receives substantial deal flow, a warm introduction from an existing portfolio founder, co-investor, accelerator or trusted ecosystem partner may help the team understand the opportunity. However, the business must still satisfy the fund’s investment and due-diligence requirements.