Proparco Invests in EmergingTech Ventures Fund II to Boost Startup Funding Across Francophone Africa

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Proparco, the private sector arm of the French Development Agency (AFD), has announced its backing for EmergingTech Ventures Fund II, a new investment vehicle aimed at scaling early-stage startup funding in Francophone Africa.

This strategic investment is expected to significantly increase the availability of venture capital for innovative technology companies in countries such as Côte d’Ivoire, Senegal, Cameroon, Benin, Togo, and other French-speaking markets across the continent.

EmergingTech Ventures Fund II targets early-stage and growth-stage startups operating in key sectors including fintech, agritech, healthtech, edtech, climate technology, and digital services. The fund seeks to address the persistent funding gap faced by promising entrepreneurs in Francophone Africa, where access to venture capital has historically lagged behind Anglophone markets like Nigeria and Kenya.

Proparco’s participation in the fund aligns with its mandate to promote sustainable economic development and support the private sector in emerging markets. The investment will help strengthen the startup ecosystem by providing not only capital but also strategic support, mentorship, and access to regional and international networks.

Francophone African countries have seen a steady rise in technology entrepreneurship in recent years, driven by a young, dynamic population and improving digital infrastructure. However, many high-potential startups still struggle to secure the seed and Series A funding needed to scale operations and reach wider markets.

This new fund is positioned to bridge that gap. By focusing specifically on Francophone markets, EmergingTech Ventures Fund II aims to create a more balanced innovation landscape across Africa and unlock the economic potential of underrepresented regions.

Proparco’s involvement is expected to attract additional institutional and private investors to the fund, further increasing the total capital available for African founders.

The partnership reflects a broader trend of development finance institutions playing a more active role in supporting venture capital funds in Africa. Such interventions help de-risk investments for other players and contribute to building a more mature and resilient startup ecosystem.

For entrepreneurs in Francophone Africa, the launch of Fund II offers renewed hope for accessing the resources needed to grow their businesses, create jobs, and solve local challenges through technology.

Proparco and EmergingTech Ventures have expressed strong confidence in the fund’s ability to deliver both strong financial returns and meaningful developmental impact across the region.

This latest development reinforces the growing attractiveness of African tech startups to international and development-focused investors, particularly in markets that have traditionally received less attention from global venture capital.