Over US$2 Billion Raised by African Startups – Partech Africa Annual Report
Recently, the much anticipated Partech Africa Annual Report has been published, which shows how 2019 was another year of reaching symbolic milestones and smashing records in the dynamic and fast-growing tech investment ecosystem in Africa. The report clearly demonstrates how the economies of the continent are being significantly redefined by VC Tech investment, as is explained by General Partner of Partech Cyril Collon: “Africa’s tech ecosystem has moved into the mainstream, transforming economies considerably, and while there are certain ups and downs to be expected in the future, this new reality is also redefining the scope of Private Equity on the continent, with Venture Capital on the way to becoming the number one asset class in Africa.”
The report, which is the fourth the team has produced, is based on the same methodology as the previous years: it covers equity deals in tech and digital spaces, and funding rounds higher than US$200K. it covers both disclosed and undisclosed deals. The report only focuses on African start-ups i.e. companies with their primary market in Africa (i.e. in terms of operations and revenues).
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