Venture Capital 4 Africa recently shared a Venture Capital Map of Africa as part of their highlights for 2019 and whilst the map shows how venture capital presence is spreading across the continent it also shows how much of a gap there is at the present moment.
Interestingly, VC4A likened Africa’s Venture Capital scene to Asia’s back in 2014:
Africa’s VC market today is comparable to Southeast Asia in 2014. The numbers are surprisingly similar. In 2018, Africa accounted for $1.163B in investment vs. Southeast Asia which was $1.163B, across 164/165 rounds respectively. This is just before the Southeast Asia tech scene exploded and where now more than $6B is invested annually. Whether or not this is an accurate view into our own future, we know this is the tipping point we have all been waiting for.
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Other highlights from the Venture Capital firm include:
- US$68 Million raised in Series A funding
- 18% of startups co-founded by women
- 27% of startups are fintech startups
- More than 45 investors involved