Partech the Silicon Valley – based venture capital firm has opened its office in Nairobi, as it seeks to take advantage of local investment deals.
The fund has tapped Ceasar Nyagah, formerly the Fanisi Capital investment manager, to lead the investment office in Nairobi.
The Partech Africa Fund is targeting 20 to 25 investments across10 countries including Kenya, in the next few months.
Partech Africa Fund general partner Tidjane Dem said that the fund is targeting all people and companies tapping into Africa’s informal economies.
The fund is seconded by blue-chip European corporates, including French teleco giant Orange and several multilateral financiers like the International finance corporation (IFC), the European investment bank and the African Development Bank (AfDB).
Partech’s entry into Nairobi comes at a time when the country ranks among the top three most ideal markets for private equity funding.