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The European Bank for Reconstruction and Development (EBRD) has made its first commitment to a pan-African venture capital vehicle, investing $8 million in Ventures Platform Pan African Fund II to support early-stage technology companies across the continent. 

The investment is part of the Bank’s €200 million Early Stage Innovation Facility II, which backs commercially oriented venture funds that help expand access to finance, strengthen innovation ecosystems and accelerate private sector development.

Ventures Platform Pan African Fund II will target startups in Côte d’Ivoire, Egypt, Morocco, Nigeria and Senegal – markets where digital entrepreneurship is growing rapidly but early-stage capital remains scarce. By backing companies with strong growth potential, the fund aims to catalyse job creation, deepen digital inclusion and support solutions addressing development challenges in financial services, agriculture, logistics, climate technology and health.

Kola Aina, Founding Partner of Ventures Platform, said the EBRD’s participation signals rising institutional confidence in Africa’s innovation economy. He noted that Africa’s next generation of globally relevant technology companies will be built by founders “solving meaningful problems and creating new markets,” adding that the partnership strengthens the fund’s ability to support entrepreneurs building enduring businesses.

The EBRD said venture capital in Africa remains underdeveloped relative to the scale of entrepreneurial activity, and that strengthening market infrastructure is essential for innovative firms to access growth capital. Dirk Werner, the Bank’s Managing Director of Equity, said the investment will help startups scale their impact and contribute to long-term economic transformation.

The commitment builds on the EBRD’s growing presence in sub-Saharan Africa. Since beginning operations in five African countries in 2025, the Bank has invested €620 million in less than a year, focusing on private sector competitiveness, financial inclusion and sustainable growth.