Africa

Venture funds raised a little less than $83bn in the first three quarters of this year, down from more than $95bn in the same period in 2023, according to exclusive research by Venture Capital Journal.

Investing in technologies that help Morocco's infrastructure operate more efficiently is among the opportunities that the firm sees in North Africa.

The fund's investors include British International Investment, the Dutch entrepreneurial development bank FMO, IDB Invest, International Finance Corporation and Mastercard.

TLCom Capital's TIDE Africa II has raised $154 million to make early-stage investments in start-ups based in Africa.

The fund's investors include SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, Japan International Corporation Agency, Japan ICT Fund and SCM Capital.

With backgrounds in economic development, the VC firm’s co-founders are trying to raise the profiles of African tech start-ups that are addressing some of the continent’s toughest problems and highlight new venture destinations for investors.

Partech Africa II's limited partners include Africa Re and Dubai Future District Fund, Orange, AXIAN Investment and the African Development Bank Group.

Norrsken22 closed its debut fund at an oversubscribed $205m with support from its namesake foundation to invest primarily in sub-Saharan growth-stage companies.

Tri Ri Asset Impact Fund has made a commitment of $50 million to TRAM VF.

Global venture capital fundraising plummeted in Q1, with fewer than 100 funds closing on a combined $26.7bn, according to Venture Capital Journal research.