Fireside chat: African Venture Capital Insights
The African VC and PE market is hot as summer. Catch up on the fireside chat recording here.
According to Briter Bridges Africa Investor Catalog of 2021, nearly 60 global investment companies, including BCMP firms have invested as much as $1 billion in some 8,344 startups across Africa since January this year.
Countries like Nigeria, Kenya and South Africa weren't even on the VC radar in 2010-2011; now they are on track to cross $4 billion by the end of 2021 - from 20 million to four billion is a 200x increase in nine years.
Part of this increase in interest is due to the fact that a lot of African founders have learned to collaborate with large institutions like the telcos, the banks, the insurers, and large retailers which are extremely powerful, and different segments of Africa have different specialties.
African founders, by joining accelerator programs - like Y Combinator, Startupbootcamp, Techstars, Grindstone, etc - have shortened the gap that it takes to get to market. And as a result, valuations have gone up and that's prompted Silicon valley money and money from Europe and Asia to come into the continent.