Partech made eight deals in 2019 from its Africa fund, but who did it invest in?

Global investment firm Partech has announced that its Partech Africa fund completed eight transactions this year — including six new deals and two-follow-on investments. But it’s not clear who the fund has all invested in, this year.

The fund, which achieved a final closing of $143-million in January (see this story) closed three deals last year.

Partech explained in a statement yesterday that the eight transactions comprise Series-A and Series-B deals, with half of the tickets ranging between $3-million and $7-million.

Partech’s Africa fund achieved a final closing of $143-million in January

While it emerged in April that Partech led a $5-million investment round in Nigerian payments startup Kudi (see this story), Partech yesterday did not name any of the company’s involved in the transactions it made this year.

It’s not clear therefore who these other companies are or how much funding it invested in each respective company (including what share it invested in Kudi).

Partech said the other entrepreneurs made the choice not to disclose their venture capital fundraising for now. “We like their focus on execution,” it added.

Partech’s first transaction from its Africa fund was its $3-million investment in Nigerian B2B e-commerce platform TradeDepot which was announced in April last year (see this story).

In September last year Partech led a $16-million Series-B round in South African payments firm Yoco (see this story).

In its statement yesterday it said its current portfolio of nine companies operate in the financial services, informal retail, customer support, logistics, education and health sectors.

It said these companies have a foot print in six countries and together serve more than 100 000 merchants, over 20 million end-users and handle over financial transactions worth more than $4-billion per year.

‘Extremely selective when investing’

Partech Africa general partner Cyril Collon (pictured above, right with Partech Africa general partner Tidjane Dème ) said even with the six new investments this year and two re-investments, the fund had to be “extremely selective”.

“We’ve engaged over 600 companies raising money this year, among them many great startups led by strong entrepreneurs.

“It proves that the skyrocketing numbers of tech fundraising in Africa are supported by strong fundamentals,” added Collon.

Partech Africa general partner Tidjane Dème (pictured above, left) said in the same statement that these companies have validated the fund’s investment strategy, namely outstanding teams with validated models addressing fundamental economic opportunities that will build “the next African champions”.

“We will continue to focus on financial inclusion, online and mobile consumer services, as well as mobility, supply chain services and digitisation of the informal economy,” added Dème.

Read more: Nigerian fintech Kudi raises $5m Series-A round to expand network, products
Read more: Partech raises  €125m for Africa Fund targeting Series-A and Series-B startups
Read more: L’Oréal makes undisclosed investment into Partech Africa fund
Read more: Nigerian startup TradeDepot scores big with $3m in funding from Partech
Read more: SA fintech Yoco raises whopping $16m in Series-B round led by Partech
Read more: Partech Ventures announces launch of Africa fund, having secured €57m so far

Featured image: Partech Africa general partners Tidjane Dème and Cyril Collon (Supplied)