African Venture Capital raised $3.6 billion in 2024 with local investors taking the lead for the first time, AVCA’s annual report revealed. Of $3.6 billion secured in venture capital funding, including $1.0 billion from venture debt.
The report showed 2024 was a challenging year for African startups, indicating a 22 per cent year-over-year (YoY) decline in deal value and a 28 per cent drop in deal volume.
According to the report, global venture capital value rose by six per cent while volume fell by 24 per cent. Venture debt lenders comprised only 12 per cent of deal volume yet generated 37 per cent of VC deal value in 2024.
Read more at Newtelegraphng
The report showed 2024 was a challenging year for African startups, indicating a 22 per cent year-over-year (YoY) decline in deal value and a 28 per cent drop in deal volume.
According to the report, global venture capital value rose by six per cent while volume fell by 24 per cent. Venture debt lenders comprised only 12 per cent of deal volume yet generated 37 per cent of VC deal value in 2024.
Read more at Newtelegraphng