P1 Ventures, a Pan-African Seed VC firm, completed the first $25m close of its second fund.
Founded in 2020, P1 Ventures focuses on a small number of African founders and companies building transformational software businesses with regional and global potential. The firm works alongside the visionary founders it invests in across fintech, e-commerce, healthtech, SaaS and AI. With a local-global approach, P1 leverages decades of experience operating and investing in African markets, supporting ambitious startups with global multi-stage and sector experience and its networks across US, Europe and Asia.
Since launch, P1 Ventures has invested in 29 early-stage companies across 10 countries including Money Fellows in Egypt, and Reliance Health in Nigeria where P1 has a presence. The firm’s inaugural investment was in Yassir in Algeria – a super-app operating in Francophone Africa. Yassir recently announced the closing of $150 million in a Series B funding round. More recently, P1 Ventures led the Seed round of Gameball, a software company gamifying loyalty and customer retention with an international client base across 70 countries.
The firm is led by founder and general partner Mikael Hajjar and co-founder and general partner Hisham Halbouny.
P1’s advisory committee comprises investors and operators who have made a global impact with investments, including Bernard Dalle, a founding team member of Index Ventures, and Emil Michael, the former Chief Business Officer at Uber.
FinSMEs
26/09/2023