Partech Africa Fund, a venture capital vehicle dedicated to technology startups in the continent, will open its first office in Kenya.
Run by Silicon-based Partech, PAF has its presence in Paris, Berlin, San Francisco and Dakar.
The Nairobi office which will have ex-Fanisi Capital investment manager Ceasar Nyagah as the investment officer to steer the firm’s growth within the East Africa region.
Recently, PAF received a final closing of $143.5 million from more than 40 different financial backers such as the European Investment Bank (EIB), IFC, Averroès Finance III, KfW, the German Development Bank, FMO, the Dutch Development Bank and the African Development Bank Group.
The financial backing makes it the largest venture capital institution dedicated to startups.
Partech’s PAF was launched last year January where it received $70 million backing from Orange, Edenred and JCDecaux Holding.
It makes investments in series A and B financing rounds in startups which infuse technology in fields like education, mobility, finance, delivery, and energy.
