The European Bank for Reconstruction and Development (EBRD) has committed an $8 million anchor investment to pan-African venture capital firm Ventures Platform Fund.
The European Bank for Reconstruction and Development (EBRD) committed $8 million to the Ventures Platform Pan-African Fund II to back early-stage tech startups in Nigeria, Côte d’Ivoire, Egypt, Morocco and Senegal.
The funding aims to back high-potential startups across Nigeria, Côte d’Ivoire, Egypt, Morocco and Senegal to expand growth capital, foster innovation and drive job creation throughout Africa.
The bank noted that the funding comes via its €200 million Early-Stage Innovation Facility II, a programme designed to deploy capital into commercially focused venture capital funds.
The initiative aims to boost Africa’s early-stage venture ecosystem by channeling capital into funds that empower innovative startups to scale.
Ventures Platform Founding Partner Kola Aina noted that the partnership signals rising institutional trust in Africa’s tech and innovation sector.
Aina added that the EBRD’s involvement enhances the fund’s ability to empower ambitious African founders who are tackling critical challenges and opening up new markets.
Aina noted that welcoming the EBRD highlights a shared belief that Africa’s next wave of global tech leaders will come from founders solving critical problems and opening new markets.
He added that beyond supplying capital, the EBRD’s backing reinforces global confidence in Africa’s innovation economy and boosts the fund’s ability to nurture high-growth startups over the long term.
Aina concluded that the EBRD’s backing reinforces rising institutional trust in Africa’s innovation economy while boosting the fund’s capacity to support ambitious founders creating lasting value globally.
Dirk Werner, the EBRD’s Managing Director of Equity pointed out that while innovation is vital to Africa’s economic future, venture capital remains low relative to the continent’s high level of entrepreneurial activity.
Werner emphasized that while innovation is increasingly driving Africa’s economic future, venture capital funding still trails far behind the continent’s vibrant entrepreneurial activity.
Werner explained that the EBRD’s backing aims to build the market infrastructure early-stage startups need to secure capital and scale operations.
Werner added that investing in the fund strengthens the market infrastructure necessary for innovative businesses to access growth capital and scale their impact.
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The EBRD noted that its investment alongside contributions from other development finance institutions and private investors demonstrates sustained backing for Africa’s venture capital space and confidence in its tech startups.
The bank noted that the commitment underscores strong faith in the long-term potential of African tech firms and highlights venture capital’s role in driving innovation-led economic growth.
Since beginning operations in sub-Saharan Africa in 2025, the bank has deployed €620 million across five countries in under a year.
The fund will expand financing for early-stage tech companies, helping African startups scale and compete globally.
