Venture Capital (VC) News

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Africa’s startup boom is moving into the used-vehicle space. Nigeria based Cars45.com raised a $5 million Series A round from the Frontier Cars Group, a holding company whose backers include Balderton Capital, EchoVC, TPG Growth, and NEA.

World Bank launches program, XL Africa, to support Africa’s top tech entrepreneurs. Credit: infodev.org

World Bank launches program, XL Africa, to support Africa's top tech entrepreneurs

With support from prominent African investment groups, XL Africa will help 20 selected startups attract early stage capital of between $250,000 and $1.5 million.

Ismail Ahmed, Founder & CEO, WorldRemit

WorldRemit Africa revenue to double by 2020 on mobile money, says Founder & CEO Ismail Ahmed

Higher-paid African expatriates sending cash to home countries. Money-transfer company has Facebook backer Accel as investor.

Lidya

Leading Nigerian fintech startup Lidya closes $1.25M seed funding round

Lidya, a leading fintech platform based in Nigeria, announced in late March that it has closed a US$1.25 million seed funding round to further its mission of easing access to finance for small and medium enterprises (SMEs) across Africa.

Cyril Collon, General Partner, Partech Ventures

African tech startups raise record-breaking $370M in 2016: Partech Ventures (Infographic)

At Partech Ventures, we have been tracking for the past 3 years the dynamics of African tech investment, to better understand the investment landscape on the continent.

Cape Town was the most important destination in 2016 for startup investments in Africa

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable wifi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

Tanya van Lill, incoming CEO, SAVCA (Credit: linkedin.com)

Southern African Venture Capital and Private Equity Association taps Tanya van Lill as new CEO

Tanya van Lill has been named CEO of the Southern African Venture Capital and Private Equity Association.

Investment in Africa's tech start-ups on the rise

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable Wi-Fi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

Spotlight on Southern Africa Private Equity: African Private Equity and Venture Capital Association (AVCA)

Spotlight on Southern Africa Private Equity (Report & Infographic): African Private Equity and Venture Capital Association (AVCA)

Between 2010 and 2016 H1, there were 277 reported private equity deals in Southern Africa totaling $3.5 billion.

Fashion-conscious Lagosians switch to online shopping

Fashion-conscious Lagosians switch to online shopping

Three years ago, MallforAfrica joined the raft of Nigerian tech start-ups attracting private equity and venture capital backing.

Spotlight on East Africa Private Equity: African Private Equity and Venture Capital Association (AVCA)

Spotlight on East Africa Private Equity (Report & Infographic): African Private Equity and Venture Capital Association (AVCA)

Between 2010 and 2016 H1, there were 167 reported private equity deals in East Africa totaling $1.4 billion.

ToLet.com Co-Founders (L-R): Sulaiman Balogun, Fikayo Ogundipe, Dapo Eludire and Seyi Ayeni

Nigeria's ToLet.com.ng raises $1.2M from Frontier Digital Ventures

Lagos-based real estate classifieds startup ToLet.com.ng announced on Tuesday that it has closed a $1.2 million series A funding round from Frontier Digital Ventures.

Building the Entrepreneurial Base in Africa

Building the Entrepreneurial Base in Africa: J. Eric Wright, Chairman, Africa Venture Partners

J. Eric Wright was headed for Wall Street until he decided to take a year off in Africa. That short jaunt has stretched into nearly three decades on the continent — and led him to his life’s work.

Eric Osiakwan, Managing Partner, Chanzo Capital

How mobile is sparking creativity in African business: Eric Osiakwan, Managing Partner, Chanzo Capital

Chanzo Capital is an early stage micro-VC firm that provides capital and mentorship to high-tech startups in Kenya, the Ivory Coast, Nigeria, Ghana and South Africa (the so-called KINGS of Africa’s digital economy).

Justin Clarke, CEO, One Africa Media & Acting CEO, Ringier One Africa Media

Ringier Africa and One Africa Media form joint venture

Ringier Africa and One Africa Media (OAM) have agreed to merge their pan-African Classifieds assets to create and grow Africa’s largest classifieds group.

Nollywood money is big money (Reuters/Akintunde Akinleye)

Nigeria's 'Netflix of Africa' iROKOtv made a 3,000% return for investors

As Nigeria’s tech space has matured over the last few years, it has drawn the attention—and money—of curious investors.

Ghana's startup hub pioneer MEST is going pan-African with a $50 million fund

Ghana's startup hub pioneer MEST is going pan-African with a $50 million fund

Meltwater Entrepreneurial School of Technology (MEST) has built one of Africa’s best known startup ecosystems in Accra, Ghana over the last eight years—and now it’s doubling down on a push to take its vision pan-African.

East Africa Private Equity Deal Dashboard - RisCura & EAVCA

East Africa Private Equity Deal Dashboard 2016 (Report): RisCura & East Africa Venture Capital Association (EAVCA)

The first ever dashboard on East African private equity deals has been released, another step forward in the quest for solid investment data on the African continent.

Mark Essien, Founder & CEO, Hotels.ng

Meet Mark Essien, Founder & CEO of Nigeria's Hotels.ng (Video)

Hotels.ng‘s CEO Mark Essien founded the Nigeria-based online hotel booking company in 2013, after completing Master’s and Bachelor’s degrees in Computer Science and Engineering in Germany.

Annual African Private Equity Data Tracker: African Private Equity and Venture Capital Association (AVCA)

Annual African Private Equity Data Tracker (Infographic & Report): African Private Equity and Venture Capital Association (AVCA)

AVCA’s African Private Equity Data Tracker provides a summary of trends in private equity (“PE”) in Africa.

South Africa's Travelstart raises $40M to extend reach in Africa's fast-growing multibillion dollar online travel market

South Africa's Travelstart raises $40M to extend reach in Africa's fast-growing multibillion dollar online travel market

Travelstart, the South African-based Online Travel Agency (OTA) with offices throughout Africa and subsidiaries in the Middle East and Turkey, on Wednesday announced a capital raise of $40 million from Amadeus Capital Partners, the global technology investor.

Teodoro de Jesus Xavier Poulson, Investment Committee Member, Fundo Activo de Capital de Risco Angola (FACRA)

Africa in 2016: Angola's public venture capital fund FACRA

How we made it in Africa asks Teodoro de Jesus Xavier Poulson – a member of the investment committee of Angola’s public venture capital fund, Fundo Activo de Capital de Risco Angolano (FACRA) – about his outlook for 2016.

South Africa's Silvertree Capital to invest $10M in African startups

South Africa's Silvertree Capital to invest $10M in African startups

Silvertree Capital, the investment arm of Cape Town-based Silvertree Internet Holdings (SIH), plans to invest US$10m (about R170m) in consumer-focused Internet start-ups in 2016, it said on Tuesday.

African startups raised $185.7M in 2015

African startups raised $185.7M in 2015

According to the Disrupt Africa’s African Tech Startups Funding Report for 2015, 125 tech startups raised funding in 2015 around the African continent, to the tune of US$185,785,500.

WeChat Africa plans to invest $3.5 million in tech startups

WeChat Africa plans to invest $3.5 million in tech startups

WeChat Africa plans to invest 50 million South African Rand (about 3.5 million US Dollars) in tech startups in Africa.

Mark Essien (Left), Founder of Hotels.ng

Nigerian travel startup Hotels.ng wants to conquer Africa (Video)

PricewaterhouseCoopers (PwC) projects Nigeria‘s hospitality market will grow signficantly in the next five years. Online hotel booking portals are benefiting. Among such portals is hotels.ng.

Tomi Davies, President, African Business Angels Network

Startup funding platform Gust and African Business Angel Network (ABAN) announce strategic partnership supporting early stage investment in Africa

African Business Angel Network (ABAN) will use Gust as an official platform for early stage investment activity.

US President Barack Obama (L) and M-KOPA Solar representative. M-KOPA, headquartered in Nairobi, Kenya, is the global leader of “pay-as-you-go” energy for off-grid customers.

The African tech startup scene has been transformed in just four years

Last month DEMO Africa took place in Lagos, Nigeria, with 30 tech startups pitching to an audience of investors.

Government funding is just one avenue for African tech. Credit: Brent Lewin/Bloomberg; Eduard Gismatullin/Bloomberg. institutionalinvestor.com

Government funding is just one avenue for African tech

Hoping to reap the economic benefits of a digital revolution, several African countries are seeking to build their own versions of Silicon Valley.

Andrea Barrica, Venture Partner, 500 Startups

Venture Capital Firm 500 Startups Seeks First Nigeria Tech Deals

500Startups, a Silicon Valley venture-capital firm with more than $175 million under management, is seeking its first investments in Nigerian technology companies as Africa’s most-populous nation encourages industries that will reduce its reliance on oil.

Ghana’s MEST incubator To launch Pan-African VC fund, expand training programs to Nigeria & Kenya

Ghana's MEST incubator to launch Pan-African VC fund, expand training programs to Nigeria & Kenya

Ghana’s MEST innovation space is making moves, gearing up to launch a Pan-African VC fund in 2015, while expanding its IT training program into Nigeria and Kenya.

Omobola Johnson, Nigeria's former Minister of Communication Technology and incoming Partner at venture capital firm TLcom Capital

Nigeria's former tech minister Omobola Johnson is now a venture capitalist

London-based venture capital firm, TLcom, has appointed Omobola Johnson, Nigeria’s former minister of communications and technology, as lead partner as it kicks off its West African operations.

SimbaPay wins DEMO Africa 2015

SimbaPay wins DEMO Africa 2015. Next stop: Silicon Valley

At DEMO Africa 2015, SimbaPay showcased a new app that enables the opening of bank accounts in Africa from outside the continent.

Seed funding for African tech startups is really taking off

Venture capital funding for African tech startups is really taking off - here's why

It is well established that VC investing globally is on the rise, but there is increasing evidence that more of this money is landing in Africa too, as the continent is now deemed a less risky place for investors to put their cash.

Alec Oxenford, Founder, Letgo

South Africa's Naspers invests $100M in smartphone start-up Letgo

The world of online marketplaces may already seem crowded with the likes of Amazon.com and the Alibaba Group.

Broadening horizons - How do private equity investors create value - A joint study of private equity exits in Africa by AVCA and EY

How do private equity investors create value in & from Africa? A study of private equity exits in Africa: AVCA & EY (Infographic & Report)

In our inaugural report, we countered popular opinion about PE in Africa to prove that the industry was making excellent progress in exiting its portfolio companies. We also provided evidence of genuine value creation by PE firms in the region through hands-on involvement in the companies they back.

Convergence Partners invests $20M in Nigerian fintech firm Venture Garden Nigeria (VGN)

Convergence Partners invests $20M in Nigerian fintech firm Venture Garden Nigeria (VGN)

Convergence Partners today announced an investment of $20m by the Convergence Partners Communications Infrastructure Fund (CPCIF) for a strategic, minority stake in Venture Garden Nigeria (VGN), a diversified fintech company with significant operations in Nigeria.

Change of pace: growing numbers of young Africans have flourishing businesses — Bloomberg/FT

African Entrepreneurs - A new generation leads the way: Financial Times (Report)

Start-ups are thriving and helping to change perceptions of business in Africa. As ever-increasing numbers of cars clog the streets of African cities, trade flourishes along congested highways.

Lagos Startup Week 2015

Seedstars World announces partnership with Lagos Startup Week and Uber to showcase the best Nigerian entrepreneurs

On July 31st, the Nigerian leg of Seedstars World will take place at the final event of Lagos Startup Week. This will showcase the best entrepreneurs from around Nigeria, elevate them to an international stage, and offer them the opportunity to receive investment of up to $1.5 million.

Vicki Fuller, Chief Investment Officer, New York State Common Retirement...

New York pension fund to invest up to $5.4B in Africa

The New York State Common Retirement Fund, one of the largest U.S. Pension funds and worth about $180 billion, plans to invest as much as 3% of its assets in Africa in the next five years to diversify its portfolio and boost returns.

Michelle Kathryn Essomé, CEO, African Private Equity and Venture Capital Association (AVCA)

African private equity exits show momentum after 38% increase in 2014

Private equity (PE) exits in Africa reached an eight-year high in 2014, and strong activity should continue as more companies enter the period where an exit becomes increasingly imperative, according to data from EY and the African Private Equity and Venture Capital Association (AVCA).

Jason Njoku, Founder & CEO, iROKOtv

My biggest fear is that Nollywood becomes less popular: Jason Njoku, Founder & CEO, iROKOtv

If you watch a lot of Nigerian movies or follow the Nigerian startup scene, chances are Jason Njoku needs no introduction.