African Venture Capital Investments Surge by 28% in 2023

Africa – Investments made by venture capital funds in Africa soared to $895 million in the third quarter of 2023, marking a 28% increase compared to the same period in 2022. This growth stands out as Africa remains the only region to witness a sharp rise in venture capital investments during this period.

According to Africa News Agency, their report titled “Venture Capital Activity in Africa Q3 2023” released on November 9, 2023, contrasts the global trend where venture capital investments fell by 15% to $73 billion. Latin America, North America, and Asia experienced declines in their venture capital investments, while Europe saw a modest increase of 1%.