Venture capital investments decline amid sociopolitical, economic uncertainties

Pan-African industry association the African Private Capital Association (Avca) has reported, amid the release of its latest ‘Venture Capital in Africa Report’, that 2023 was a year of significant sociopolitical and economic upheaval, which led to a “global funding winter” that saw investors prioritise safer assets rather than venture capital investments. Avca notes that the global venture capital ecosystem has been in a steady global decline since 2022, falling to $285-billion in deal value last year, compared wtih $690-billion in 2021. The cumulative effect is a market size that represents 41% of capital invested in 2021, signifying a contraction of venture funding around the globe in 2023.

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