The expansion dynamics of African startups
Ameya Upadhyay from Flourish Ventures states that expansion is often necessary for venture capital-backed startups due to limited local market sizes. Bunmi Akinyemiju advises founders to focus on winning their local market before considering expansion, suggesting that most should not expand.
African Venture Investment Sees Major Deals Despite Overall Market Contraction
Moove Africa's $100 million mega-deal propelled Nigeria to the forefront of Africa's funding landscape. Significant funding rounds in Kenya and Egypt highlighted these countries as key hubs for venture capital activity.
Nigeria Leads in H1 2024 Venture Capital Funding Despite Africa’s Economic Challenges
Africa experienced a 57% YoY decline in venture capital funding in H1 2024. Nigeria became the most funded country due to a $100 million mega deal by Moove Africa.
VKAV Successfully Secures $60 Million in Initial Funding Round
Verod-Kepple Africa Ventures (VKAV) has raised $60 million in its inaugural fund Key institutional investors include SBI Holdings and Toyota Tsusho Corporation
