All of no sudden, there is an apparent abundance of capital sources available to African tech ventures. Almost overnight, this incipient innovation landscape has put itself in front of virtually everything from local angel investments to high-profile VC deals suffused with Silicon Valley money.
Angel investing, for one, is assuming a new form which sees local startup founders syndicate their foreign counterparts, sometimes alongside corporate funders. VCs, on the other hand, are increasing their cheque sizes to the continent’s early-stage startups—which are now not only raising more frequently to scale but also just for keeps (think Mono, think Kuda).
Venture capital is Africa’s major fount for startup funding, and everything about the recent numbers goes to show that 2021 will be a record-breaking year in the terrain. For context, African ventures secured USD 782.6 Mn in September 2021 alone, across 38 disclosed deals. That’s roughly the same amount the entire pande...
