African tech startup investment falls 28% to $2.4bn in 2023 as global “funding winter” begins to bite
Total investment into the African tech startup ecosystem fell by 27.8% to US$2.4 billion in 2023. The number of funded ventures was down 35.9% on the previous year, and the number of active investors fell by almost 50%.
How does a VC firm go about sourcing its portfolio, and does that change over time?
Cold emailing, filling out contact forms, networking, and being profiled by platforms like Disrupt Africa are all strategies to find venture capital in Africa. VC firms like Atlantica Ventures and Hlayisani Capital actively source startups through their networks, conferences, and online research.
Why startups need to better understand how VC works, and how it goes both ways
Startups should be deliberate in choosing the right investor and do research on their investment thesis and stage of investment. Warm introductions or referrals are important, but some VCs are open to cold introductions.
Meet the Investor: Aniko Szigetvari, Atlantica Ventures
Atlantica Ventures has made eight investments so far and still has plenty of its $50 million fund left. The fund focuses on powering African tech startups from seed through to Series B.
