Peter Venter’s Post

🌍💡 Unlocking Africa’s Startup Potential: Building Local Investment Ecosystems 💡🌍 The African startup ecosystem faces significant challenges. In the first half of 2024, venture investments declined by 65%, according to the African Private Capital Association (AVCA). Historically, 77% of Africa’s venture funding has come from foreign sources, and the reduced foreign interest is being felt deeply. But here’s the truth: Africa’s future cannot depend solely on foreign investors. We must build a thriving local investment ecosystem. 💼 The Call to Action for Africa’s Wealthy: It’s time for our #African #millionaires and #billionaires to step up and invest in the continent’s innovation and entrepreneurship. Local angel investors and venture funds can drive a new wave of growth by backing startups that address Africa’s pressing needs in sectors like fintech, agritech, healthcare, logistics, and more. 🚀 The Opportunity Ahead: 1️⃣ Developing Early-Stage Companies: Strong local funding ecosystems can nurture startups with clear business models and scalable solutions, making them attractive to larger investors. 2️⃣ Empowering Local Entrepreneurs: African startups must focus on leveraging homegrown capital to create resilient businesses that reflect the continent’s unique needs. 3️⃣ Shifting the Narrative: Investing in startups isn’t just about profit—it’s about transforming economies, creating jobs, and building a sustainable future for Africa. 💬 Let’s Build the Future Together: This is a pivotal moment. By fostering local investment, Africa can reduce reliance on foreign funding and create a sustainable, self-reliant startup ecosystem. To our local investors: What’s stopping you from being part of Africa’s next big success story? #AfricaStartups #AngelInvestors #VentureCapital #Innovation #Entrepreneurship #LocalInvestment #SustainableGrowth 🌱🚀✨

African Startup Ecosystem Update: February 2024 🌍 February marked a significant uptick in fundraising activities across the African continent, showcasing resilience and dynamic growth within the startup ecosystem. Here's what you need to know: ➖Total Raised: Startups in Africa have secured $217M in February, demonstrating a robust recovery to levels seen in 2020 and 2021. ➖Key Players: Nigerian transport tech giant Moove led the charge with a massive $100M Series B round, highlighting the sector's potential. ➖Growth Areas: The Big Four (Nigeria, Kenya, Egypt, and South Africa) dominated, with Nigeria and Kenya leading at 42% and 27% of total funding, respectively. The Logistics & Transport and Fintech sectors were the frontrunners in attracting investment. ➖Looking Forward: With $300M raised YTD and the potential for mega deals on the horizon, 2024 holds promising prospects for African startups. Optimistic projections suggest the possibility of reaching up to $3.2B in total funding this year. 💡 Insight: Despite a quieter January, February's momentum sets a hopeful tone for the year ahead. With continued support and investment, the African startup landscape is poised for remarkable achievements. 🔍 Spotlight: Exits and acquisitions such as Carbon's purchase of Vella Finance, Auto24's acquisition of Kupatana, and FairMoney's potential buyout of Umba signal a maturing ecosystem ready for global impact. 🌟 What's Next?: The journey is just beginning. As we navigate through 2024, the focus will be on sustaining this growth, nurturing innovation, and watching out for the next big thing in African tech. Source: report by ‘Africa: The Big Deal’ If you'd like to receive future updates from us, subscribe to our newsletter - https://shorturl.at/dsJTX #FromHereVentures #FHV #AfricanTech #StartupFunding #Innovation #Growth #VC

A Deep Dive into Startup Funding in Africa: 2019-2024 Analysis Today, we share a comprehensive geographical analysis that outlines the evolving landscape of venture capital since 2019. Highlights of Funding Dynamics 🔹 The dominance of the Big Four: Nigeria, Kenya, South Africa, and Egypt, known as the Big Four, have collectively attracted 84% of all startup funding on the continent, underscoring their pivotal role in Africa's economic development. Nigeria alone accounts for 30% of this funding. 🔹Emerging Contenders: While the Big Four lead, nations like Senegal and Ghana are rapidly emerging as significant players. Ghana, in particular, shows potential to join or even surpass some of the Big Four, with 13 startups crossing the $10m funding mark. 🔹Regional Insights: Beyond the leaders, countries like Tanzania, Uganda, Algeria, Tunisia, and Morocco have also seen substantial investments, with Morocco displaying a notably diverse funding landscape with nearly 40 ventures raising $1m+ each.Broader Market Trends 🔹Despite the robust activity in several countries, there remain 19 markets with minimal to no recorded deals, highlighting untapped potential and opportunities for early-stage investments. From Here Ventures remains dedicated to identifying and nurturing the most innovative founders across Africa. We believe in the power of localized support and strategic capital to elevate innovative solutions that can transform communities and economies. If you'd like to receive future updates from us, subscribe to our newsletter - https://shorturl.at/Kpk8W #FromHereVentures #VentureCapital #AfricaTech #Startups #InvestInAfrica #Innovation #StartupFunding

💵 VC Funding in Africa Faces Slowdown in Q1 2024 The African startup ecosystem experienced a significant funding slowdown in the first quarter of 2024, according to the latest industry report. Despite the challenges, there were some positive signals amidst the turbulence. Here are 3 key takeaways on VC trends in Africa for Q1 2024: 🔹 African startups raised $542 million across 153 deals in Q1 2024 year-to-date (Jan-Apr), a 45.62% decrease compared to the same period in 2023. However, the number of startups raising $1 million or more increased to 75 vs. 69 in 2023. 🔹 For the first time, Africa-based VCs accounted for the largest share (35%) of investors active in African startups in 2023, surpassing North America (30%) and Europe (25%). This shift highlights the growing prominence of domestic VC activity. 🔹 Among the leading Africa-based investors were firms from Morocco, Nigeria, South Africa, Ethiopia, and Mauritius, reflecting the continent's diverse VC landscape. As the African startup ecosystem navigates this challenging funding environment, domestic VC firms are emerging as key players, supporting local entrepreneurs and driving innovation across the continent. Share your thoughts on the Q1 2024 VC trends in Africa and the role of domestic investors in fostering a resilient ecosystem. 📝 Thank you all for your support and your trust 🔗 Don't forget to register and follow us on appcyto.com 👍 Like | 💬 Comment | 🔗 Share | ➕ Subscribe Connecting Africa, Empowering You! Africa: The Big Deal Azur Innovation Management Ventures Platform Fund Voltron Capital Renew Capital Founders Factory Africa Catalyst Fund Launch Africa Ventures Joachim Valot Tamara Lerner Corentin Grenon #Fintech #Angola #Africa #Tech #Finance #Inclusion #Innovation #Entrepreneurship #Payments #Investments #Efficiency #Transparency #Security #StationF #Remittances #YouthEmployment #EconomicGrowth #FinancialInclusion #SDG #TechInAfrica #StartupFunding #Fintech #Innovation #AfricanTechRevolution #VCTrends #AfricanStartups #VentureCapital #DomesticInvestors

Hey, did you hear about how African startups fared in terms of funding in 2023? It was a bit of a rollercoaster. Despite a slowdown in global funding, African startups managed to secure around $3.5 billion in VC investments. But there was a drop in equity funding by about 54%, with debt funding becoming more popular as an alternative source of capital. The usual suspects like South Africa, Nigeria, Egypt, and Kenya still dominated the market, but there was also a shift towards Francophone Africa, with countries like Morocco, Rwanda, and Senegal getting more attention and funding. One interesting thing was the decrease in investor participation by about 50%. This affected larger funding rounds, and we saw fewer mega-deals happening compared to the previous year. Fintech continued to be the star of the show, getting the most funding, followed by clean tech, logistics, health tech, and enterprise sectors. It's exciting to see how African startups are evolving and attracting investment, despite the challenges. Source: TechCrunch #startups #funding #tech #vc

Investment in African startups: A decade of growth and challenges Over the last decade, Africa has emerged as a vibrant hub for #startup_investment, attracting global attention and capital. In 2021 alone, African startups raised over $4 billion, a significant leap from approximately $1 billion in 2017. Countries like Nigeria, Kenya, and South Africa have led the charge, with Nigeria accounting for nearly 40% of total funding in recent years. The rise of technology and innovation ecosystems, coupled with an increasing number of venture capital firms focusing on the continent, has contributed to this growth. Notable sectors include fintech, health tech, and e-commerce, which have seen robust investor interest. For instance, fintech startups attracted nearly 60% of total funding in 2021, driven by the need for financial inclusion and digital solutions. Companies like Flutterwave and Paystack have not only achieved unicorn status but also set a precedent for future startups in the region. However, this burgeoning investment landscape is not without its challenges. Regulatory hurdles, political instability, and infrastructure deficits pose significant risks to investors. The World Bank estimates that only 12% of startups in Africa succeed, a stark contrast to higher success rates in more developed markets. Additionally, access to funding remains uneven, with many promising startups in underserved regions struggling to attract the necessary capital. Moreover, the lack of exit opportunities can deter potential investors. While the number of acquisitions and IPOs is growing, they still lag behind more mature markets. This creates a hesitancy among venture capitalists, who seek clear paths to realize their returns. As we look ahead, the ultimate opportunity lies in harnessing #Africas_youthful population and entrepreneurial spirit. Addressing the existing challenges—through improved regulatory frameworks, better infrastructure, and enhanced access to funding—will be crucial for realizing the continent's full potential. Engaging with local partners and understanding unique market dynamics will enable investors to navigate risks effectively and capitalize on the transformative opportunities Africa has to offer. With a proactive approach, the next decade could bring even more exciting developments and sustainable growth in the #startup_ecosystem. 📸GITEX AFRICA #Africa #VentureCapital #Startups #Investment #Fintech #Entrepreneurship #Innovation #EconomicGrowth #BusinessDevelopment #Challenges #Opportunities #TechInAfrica #U_investors

Despite challenges similar to those faced by other continents, Africa remains a prime investment hub that shouldn't be ignored. For VCs looking to tap into the dynamic market of African startups? Let’s talk to engineer a connection. Why Invest in African Startups? Rapid Economic Growth: Africa is home to some of the fastest-growing economies in the world, offering a fertile ground for innovative businesses. Untapped Market Potential: With a young and growing population, Africa presents a vast and largely untapped market for new products and services. Diverse Opportunities: From fintech, mobility, and agritech to healthtech and edtech, African startups are at the forefront of solving unique local and global challenges. High Returns: With lower initial investment requirements and significant growth potential, African startups offer attractive returns on investment. If you want to have this conversation, send an email let's start the conversation [email protected] #Startups #VentureCapital #Vc #Funding #Africa #FundAfrica #Connection #Conversation #Antler #YC #Capital #Sequoia #GoogleVentures #KhosiVentures #IndexVentures #Blackrock #AndreessenHarowitz #NewEnterpriseAssociates #LightspeedVentures #Accel #Bessemer #BatteryVentures #TigerGkobal #FounderFund #GreylockPartners #CanaanPartners #FirstRound #500Global #Benchmark #InsightPartners

A Slowdown, but Resilience and Growth Continue in Africa’s Startup Ecosystem. After a stellar July, August 2024 saw a dip in startup funding, with $56 million raised—nearly 8x less than July’s $443 million and 4x less than August 2023’s $234 million. This slowdown made August the second-slowest month for funding in four years. However, the strong performance in July has kept Q3 funding ahead of Q1 and Q2 combined, showing the ecosystem’s ability to bounce back. Key Highlights from August: - Total Funding: $56 million (87% equity, 9% debt, 4% grants) - Startups Funded: 27 (below the 12-month average of 40+) Top Deals: - Fido (Ghana): $30m (Fintech) - Solarise Africa (South Africa): $9m (Energy) - Waza (YC W23) (Nigeria): $8m (Fintech) Despite the August slowdown, several African startups have continued to secure vital funding, demonstrating the ecosystem’s resilience and innovative spirit. Recent Funding Highlights: Kasha (Rwanda): Expanding access to women’s healthcare products with additional funding. Chpter (Kenya): $1.2m to grow its AI-powered social commerce platform across Africa. Wattnow (Tunisia): Closed a multi-million dollar funding round for its IoT-based smart energy management solution. Cercli (MENA): $4m seed funding to simplify payroll management and strengthen its presence in the MENA region. Kredete (Nigeria): Secured $2.25m to enhance fintech services for African immigrants, driving financial inclusion. As we look ahead, the continent’s potential for growth and impactful solutions remains stronger than ever. Let’s keep building towards a brighter future for innovation and economic development across Africa! Source: Africa: The Big Deal, Tech Safari #FromHereVentures #VentureCapital #AfricaTech #StartupFunding #Innovation #EconomicGrowth

Paris VC Breega announces $75 million Africa fund launch Paris-based #VC firm #Breega has launched its first Africa-focused fund, with an impressive $75 million aimed at pre-seed and seed startups across the continent. This marks Breega's sixth fund overall and the first outside of Europe, underscoring its commitment to Africa's burgeoning tech ecosystem. Breega was founded by Ben Marrel, who also serves as the CEO. Leading the Africa fund are Melvyn Lubega, co-founder of the edtech unicorn Go1, and Tosin Faniro-Dada, CPA, former CEO of Endeavor Nigeria. The fund has received significant backing from institutions such as Bpifrance and the Dutch entrepreneurial development bank, FMO. The focus of this fund will be on key markets including Nigeria, Egypt, South Africa, Kenya, and Francophone Africa, which includes countries like Morocco, Senegal, Ivory Coast, Cameroon, and the DRC. Breega plans to invest between $100,000 and $2 million in startups operating in high-impact sectors such as fintech, health tech, proptech, logistics, and edtech. Breega’s approach is unique, as it offers more than just capital. With over a quarter of their team dedicated to supporting portfolio companies, Breega provides comprehensive operational expertise in areas like go-to-market strategy, talent management, governance, and brand communications. The launch of Breega’s Africa fund is a significant milestone for the continent’s tech ecosystem. It is poised to bring more unicorns and transformative solutions to the market, fostering innovation and addressing unique local challenges. With new offices in Lagos and Cape Town, Breega is well-positioned to tap into Africa's immense opportunities and replicate its European success. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

BREAKING NEWS: Funding winter for startups in Africa is over! 🎉 ... I would have loved for it to be true at this point of the year but the reality is... it's still a bit early to tell. 🙈 This being said, we have a couple insights that could give us some reasons to believe we are not too far away from this headline: 🌍 3Q24 startups funding figures in Africa are on par with 3Q23 ( and quite above the past 3 quarters) 🌍 Comparing with the first 3 quarters of 2023, the number of startups that raised $1M or more is quite similar 🌍 Funding raised by startups in Africa so far in 2024, is already above the FY19 and FY20 amounts 👉 Read Max Cuvellier Giacomelli latest Africa: The Big Deal post for more insights (...and a discount code to attend SuperReturn Africa in a few weeks!): https://lnkd.in/d433HaSy 👉 Check Africa: The Big Deal comprehensive deals database to see all the underlying transactions, details on founders, investors and sectors behind these aggregated numbers: https://lnkd.in/d_CsTZw2