The International Finance Corporation and European Investment Bank have put their weight behind Partech Africa, which has now secured more than $70m in funding towards its $123m target.

US-based VC firm Partech Ventures launched a €100m ($123m) fund on Thursday targeting the pan-African ecosystem, with backers including International Finance Corporation, the private sector investment arm of the multilateral World Bank, and EU-owned financial institution the European Investment Bank. The fund, Partech Africa, has achieved an initial close of more than $70m. Its limited…

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