The Partech Africa Fund has achieved a final closing at €125M, more than double the size of its first closing a year ago at €57M ($70M).

Backed by a unique set of financial institutions, major corporate partners and successful entrepreneurs, Partech Africa sets out with the largest VC fund dedicated to technology startups in Africa.

With this final closing, Partech Africa confirms its position as a major go-to platform for tech financing on the continent, with a strong capability to leverage much more capital thanks to its partners.

The fund is positioned for series A and B financing rounds in startups which are changing the way technology is used in education, mobility, finance, delivery, energy and many more.

It made two investments in 2018: TradeDepot, in Nigeria, and Yoco, in South Africa, and is expected to close even more deals in 2019.

Speaking on the development, Cyril Collon, General Partner at Partech said “We are really proud to see major global investors rally around our vision and ambition to support extraordinary entrepreneurs building digital champions for Africa and emerging markets”.

He mentioned that, their first investments in Yoco and TradeDepot provide strong showcases of how the champions can transform whole sectors such as retail and payments in the region.

Partech announced its presence in East Africa with Ceasar Nyagah joining the team as Investment Officer based in Nairobi, Kenya.

Partech Africa has gained support from more than 40 different investors across the spectrum and from all over the globe.