African Startup Founders Did The Impossible

In this video we cover the #success of African venture capital through 2022. Africa witnessed a remarkable surge in the VC space, with startups raising $4.8 billion. However, this accounted for only 1.2% of the total global startup funding. One prominent venture fund, Launch Africa Ventures, stood out by investing $36.3 million in over 110 startups across 21 African countries. The fund primarily supported seed and pre-Series A startups, offering an average investment of $250,000 to $300,000. Despite the growth, Africa's startup funding still has ample room for expansion on the global stage.

Fintech proved to be a critical sector in Africa, with numerous "mega deals" exceeding $100 million. Notable fintech players included Flutterwave, MNT-Halan, Interswitch, and MFS Africa. However, there was a slight decline in the sector's share of funding, decreasing by 16% between 2021 and 2022. Despite this, the African Development Bank emphasized the importance of innovation and financial services for inclusive growth.

This video also highlights Launch Africa Ventures led by Zachariah George and Janade Du Plessis. Underlying data: Africa: The Big Deal by Maxime Bayen and Max Cuvellier.

Thanks to our first sponsor Young African Catalysts founded Karl Nchite and Luke Mostert to learn more visit https://yac.africa/

Special thanks to Caleb Maru at Tech Safari

#africanstartups #venturecapital #africa

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