The Exchange explores startups, markets and money. Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday. Africa also saw its venture capital totals soar during the last startup gold rush. In recent quarters, much like other startup regions around the world, African venture results have declined. In fact, March posted what was described as “the worst month in 2.5 years” for Africa, including “the first time the monthly amount of funding raised by start-ups in Africa dipped below the $100 million mark since 2020,” by The Big Deal, a publication focused on the venture and startup market on the continent. Clearly, the quarter was a step backward. Naturally we wanted to better understand what was going on in one of the most exciting venture markets in recent years. So, this morning, The Exchange has collected two other data sources for us to chew on. Missing Attachment From a lower ceiling in terms of dollars raised, African startups’ slowing fundraising pace is bringing its quarterly results under the billion-dollar mark. That’s thin support for such a large, geographically diverse and increasingly digitally connected area. Let’s talk venture results, unique issues to the African startup scene, and look ahead to see if we can spy any good news on the horizon.
After initially defying the global slowdown, African startups’ first quarter venture results fall by Anna Heim originally published on TechCrunch