Environment Tech
Africa bucks global trend as VC grows
The African tech ecosystem remains resilient, with $6.5-billion raised by startups in 2022, up 8% despite a global slump.
The latest Partech VC report shows a resilient African tech ecosystem still growing, with $6.5bn raised in 2022.
The African tech ecosystem is a bright light amid a drastic pullback in global venture capital (VC) funding,
According to the latest annual report from Partech Africa, a VC fund dedicated to technology startups in Africa, the continent saw 8% growth in funding in 2022.
Total funding invested into tech startups on the continent reached $6.5-billion, spread across 764 deals – compared to 724 rounds in 2021. The report, consisting of disclosed and confidential deals, saw debt funding more than double in volume, reaching $1.55-billion through 71 deals (65% YoY growth).
In comparison, equity rounds showed a slight decline of 6%, as 653 African tech startups raised $4.9-billion in 693 equity rounds.
| * To download the full ‘2022 Africa Tech Venture Capital’ report, click here (https://bit.ly/3R5mChF). |
