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Fantastic news!!! This is a big step in closing the funding gap for early-stage tech startups in South Africa. It promises to fuel innovation and transform the tech ecosystem. Excited for the positive impact on entrepreneurship and the future of tech! #TechStartups #Innovation #EconomicGrowth #Entrepreneurship #SeedFunding

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

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

It was only a matter of time before the African startup ecosystem crossed the $1 billion investment mark for 2024, and we’re thrilled to see it happen! Key drivers behind this milestone include two major deals: • 𝗱.𝗹𝗶𝗴𝗵𝘁’𝘀 impressive $𝟭𝟳𝟲 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗳𝗮𝗰𝗶𝗹𝗶𝘁𝘆 • 𝗠𝗡𝗧-𝗛𝗮𝗹𝗮𝗻’𝘀 substantial $𝟭𝟱𝟳.𝟱 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝗿𝗮𝗶𝘀𝗲 to fuel their expansion Adding 𝗡𝗔𝗟𝗔’𝘀 $𝟰𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝗦𝗲𝗿𝗶𝗲𝘀 𝗔 and other smaller investments, we’re approaching $400 million in just July alone. This makes July 2024 the most successful month for fundraising in Africa in over a year, surpassing the total raised in Q2 2024. This encouraging news suggests that 2024 could potentially outshine the results of 2019 and 2020, which were previously benchmarked against this milestone. In fact, African startups have already surpassed the total funding they received in 2020. Here's to continued growth and innovation in the African startup scene! Courtesy; Africa: The Big Deal P.S. Follow me for more inspiring content. ~Be Business Smart | #GoExtraSafari®️ #Startups #Investment #Africa

𝐔𝐧𝐥𝐨𝐜𝐤𝐢𝐧𝐠 𝐒𝐦𝐚𝐫𝐭 𝐌𝐨𝐧𝐞𝐲: 𝐌𝐚𝐮𝐫𝐢𝐭𝐢𝐮𝐬 𝐚𝐬 𝐭𝐡𝐞 𝐇𝐮𝐛 𝐟𝐨𝐫 𝐀𝐟𝐫𝐢𝐜𝐚𝐧 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐆𝐫𝐨𝐰𝐭𝐡  At Mo Angels, we're positioning Mauritius as a key player in the African startup ecosystem. 🚀 The momentum is building, and we’re seeing significant progress. Through partnerships, investor events, and collaborations, we’re driving initiatives that bridge gaps, foster innovation, and create a solid foundation for startup growth. Our goal is to unlock “smart money” for African startup founders and build a thriving network beyond just funding. 💡 𝐔𝐧𝐥𝐨𝐜𝐤𝐢𝐧𝐠 𝐒𝐦𝐚𝐫𝐭 𝐌𝐨𝐧𝐞𝐲: Our collaboration with MITCO Group and Bank One Limited highlighted the critical role of business angels in nurturing African startups. Explore the insights: https://lnkd.in/dvCTjEa7 🌍 𝐁𝐫𝐢𝐝𝐠𝐢𝐧𝐠 𝐈𝐧𝐝𝐢𝐚𝐧 𝐚𝐧𝐝 𝐀𝐟𝐫𝐢𝐜𝐚𝐧 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦𝐬: Partnering with the India Africa Business Network, we co-hosted the 4th India-Africa Entrepreneurship & Investors Summit at the University of Mauritius focused on "Developing the Entrepreneurial Mindset." Learn more: https://lnkd.in/d5ukq6nD 🔗 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐢𝐧𝐠 𝐭𝐡𝐞 12𝐭𝐡 𝐀𝐟𝐫𝐢𝐜𝐚 𝐄𝐚𝐫𝐥𝐲 𝐒𝐭𝐚𝐠𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫 𝐒𝐮𝐦𝐦𝐢𝐭 2024: We’re partnering with ABAN and VC4A to host the investor meetup for #AESIS 2024 in Mauritius, focusing on "Pioneering Pathways: Innovating Investment Mobilization in Africa." Last year's highlights: https://lnkd.in/djy-E_vd 🏦 𝐌𝐚𝐮𝐫𝐢𝐭𝐢𝐮𝐬 𝐚𝐬 𝐚𝐧 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐇𝐮𝐛: We’re engaging with the Ministry of Financial Services and Good Governance to make Mauritius the preferred domicile for African startups and international investors. Learn about the opportunities explored for a more startup-friendly environment: https://lnkd.in/drzYqkh8 🏆  𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫 𝐨𝐟 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫: We’re proud to have won the Global Startup Awards Africa for the second time, showcasing our commitment to nurturing the entrepreneurial ecosystem: https://lnkd.in/dYNPwC7C Join us and connect with a vibrant network of Angel Investors to shape the future of investment in Africa. #EarlyStageInvesting #AngelInvesting #StartupEcosystem #Innovation #Africa #Mauritius #SmartMoney #InvestmentMobilization #EcosystemBuilding

🌍 African Startups in 2024: Funding Trends & Insights As of November 2024, African startups have raised $1.86 billion in venture funding. Here’s a breakdown of where the money is going: 📊 64% ($1.2 billion): Equity funding 💵 34% ($635 million): Debt financing 🎗️ 2% ($33 million): Grants While it’s unlikely that 2024 will match last year’s $2.9 billion, the year is still strong, with 425 startups securing $100,000+ in funding! 🌟 Can we reach $2 billion by year-end? It’s going to be a close race. Country-wise: Nigeria and Kenya continue to dominate the African venture funding space, contributing 76% of the $180 million raised last month alone. This highlights Nigeria’s resilience, especially amidst recent declines in funding. The African startup ecosystem remains dynamic, with incredible potential for growth. Entrepreneurs and investors alike must continue adapting to capitalize on the opportunities ahead! #AfricanStartups #VentureFunding #Nigeria #Kenya #InnovationAfrica #Funding2024 #Entrepreneurship #StartupEcosystem #BusinessGrowth #AfricaRising #InvestInAfrica

🌍 Bridging the Gap in Africa's Startup Ecosystem In the vast and vibrant landscape of African innovation, startups are shaping the future. Despite the continent's entrepreneurial spirit, local angel investor participation remains markedly low, hindering the growth and sustainability of groundbreaking ventures. 📉 2023 Insights: A recent survey revealed that while the African startup ecosystem is rich with potential, it is equally starved of crucial early-stage supp (ABAN Angels)ce】. The stark reality is that equity funding for African startups saw a precipitous drop last year, underscoring the dire need for alternative financing aven (TechCrunch)ce】. Since 2018 African startups have attracted over $16B in venture funding with 99% coming from offshore sources meaning only 1% of local angel investors participated. 🌱 Why Lokal Capital? 🌱 Lokal Capital is pioneering a community-based venture capital model, uniquely tailored to address this gap. We believe in harnessing the power of local investors to fuel innovation from within. Here's why this matters now more than ever: ➖Empowering Local Investors: There is untapped potential of angel investors to fill the early-stage funding void. With proper guidance and a supportive network, local investors can drive significant. ➖Diversifying Funding Sources: As traditional equity funding dwindles, the need for innovative and inclusive financing models becomes paramount. Lokal Capital stands at the forefront of this transition, offering a sustainable alternative to startups. ➖Catalyzing Regional Growth: By focusing on local investment, we can stimulate economic development, fostering an ecosystem where startups not only survive but thrive. Our model aims to democratize access to capital, ensuring that no brilliant idea is left behind due to lack of funding. 💡 Together, we can change the narrative. With Lokal Capital, local angel investors become the backbone of Africa's entrepreneurial future. Join us in igniting a revolution, one investment at a time - https://lnkd.in/d8F-S-jr #LokalCapital #InvestInAfrica #StartupFunding #AngelInvesting #InnovationForAfrica

🌍💡 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 🌱🚀✨

It's no longer news that we are in a slowing fundraising market. According to AVCA - The African Private Capital Association, African startups raised 900m+ from 182 deals in H1 2024. This was the lowest performance by the African tech space since 2017. While many might feel disheartened by these current trends, history shows that the most successful startups often emerge during challenging times. As highlighted in our recent webinar, "Africa's Tech Uprising: Opportunities with Global and Diaspora support", this period can be an opportunity for African founders to rethink their strategies and focus on what truly drives value for their startups. This is already happening. According to Calvin Chitangala, Project Manager, Renew Capital, "More startups are prioritising sustainable growth. So as they chase high high-revenue growth, they also seek to chase profitability" As a founder, investing time and energy into refining your business model, and understanding your market better, can lead to lasting success. Now is the time to dig in, pivot where necessary, and explore new avenues for growth. Let's embrace this moment as a catalyst for creativity and resilience! 💪✨ Source: Panel Discussion on "Africa: New Opportunities with Global and Diaspora Support" by Bernard Laurendeau (ቤርናር - ベルナルド), CEO, Arifpay; Mateo Klemmayer, Co-CEO, ChipChip; Bethelhem Dejene(Betty), CEO, Zafree, Calvin Chitangala, VC and Project Manager, Renew Capital. #Bantaba #Africa #Startup

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