Playfair Capital, a London-based venture capital, announces the close of its second fund Playfair Capital Fund II at $32 million. The venture capital wants to invest in promising tech companies in the UK and in Africa within three to five years.

Playfair Capital indicates that to date, it invested more than €20 million in 54 technology companies in 11 countries in the world.

“The U.K. has proved a rich hunting ground for Playfair Capital, providing 80 per cent of our current portfolio. With the new fund, we will seek out startups that use deep tech and data to create a defensible proposition that has longevity,” Federico Pirzio-Biroli (photo), Playfair Capital’s founder said.

In East Africa, Playfair Capital invested in Mobius Motors, a firm that manufactures and sells cars specifically designed for the African market.

Chamberline Moko