By 
P1 Ventures, a prominent Pan-African early-stage venture capital firm, has successfully closed its first institutional fund at $50 million. The fund has garnered support from African conglomerates, family offices, global VC partners, and the International Finance Corporation (IFC), the investment arm of the World Bank. The firm also benefits from the strategic expertise of Bernard Dalle, a founding member of Index Ventures, and Emil Michael, former Chief Business Officer at Uber, who was instrumental in its global expansion.
With assets under management now exceeding $60 million, P1 Ventures is accelerating its impact in the African venture capital ecosystem. The firm recently co-invested alongside Accel in the $48 million Series A funding round for Morocco-based Nuitee—its largest deal to date. These milestones reinforce P1 Ventures’ commitment to fostering high-impact startups and establishing itself as a key player in Africa’s evolving tech landscape.
Doubling Down on Africa’s Potential
Despite a slowdown in global venture funding and a retreat by some investors from emerging markets, P1 Ventures is strengthening its focus on Africa. Unlike traditional investment strategies centered around established startup hubs like Nigeria, Kenya, Egypt, and South Africa, the firm is backing resilient, capital-efficient startups that are reshaping industries.
African entrepreneurs are demonstrating an increasing ability to execute, building high-growth ventures that challenge outdated business models. P1 Ventures views this period as an unprecedented opportunity to support founders developing transformative solutions for the continent and beyond.
Africa’s Unique Strengths in AI and Fintech
Africa’s rapid technological adoption, driven by necessity rather than legacy constraints, sets it apart from developed markets. The continent’s mobile-first economy has already positioned it as a global leader in digital banking, with mobile money systems leapfrogging traditional financial infrastructure. Additionally, regulatory advancements are paving the way for stablecoin adoption, further driving financial inclusion and innovation.
In artificial intelligence, automation is playing a crucial role in bridging Africa’s skills gap while making key industries—such as healthcare, hospitality, and education—more accessible and efficient. The rise of pay-per-use models is also fueling mass technology adoption, creating scalable opportunities for entrepreneurs.
P1 Ventures’ first fund capitalized on these emerging trends, backing transformative startups such as Yassir, Algeria’s leading super app with 8 million users, and Chari, Morocco’s pioneering $100M fintech that has secured a PSP license and acquired a bank.
As Africa’s tech ecosystem matures, P1 Ventures is not merely importing global models but backing startups that are exporting African innovation to the world. With AI-driven insights, the firm has built a proprietary database of over 10,000 Pan-African companies, enabling it to identify promising startups early and deliver unmatched value to its portfolio.
Investing in Africa’s Future
P1 Ventures’ investments have already had a significant impact, contributing to the creation of more than 6,000 jobs across 20 countries and improving the lives of over 10 million people. The firm’s portfolio consistently attracts 35 times the follow-on capital per dollar invested, demonstrating its ability to scale high-potential startups.
The firm is also deepening its reach into Francophone Africa, a region that has produced some of the continent’s biggest success stories, including InstaDeep, Wave, and Nuitee.
Hisham Halbouny, Managing Partner at P1 Ventures, sees the current market conditions as a defining moment for African startups:
“Great companies are often built in tough times. Today’s founders are more frugal, focused, and realistic about valuations. We believe this may be the greatest vintage ever.”
Mika Hajjar, Managing Partner, added:
“We have strong conviction that billions of dollars in value will be created by global companies ‘Made in Africa.’ From Dakar to Nairobi, Cairo to Cape Town, founders are proving that Africa is not just solving its own challenges—it’s creating blueprints for the world.”
With a bold investment strategy and a rapidly growing portfolio of category-defining startups, P1 Ventures is actively shaping the future of African innovation—one transformative investment at a time.
Comments