African Investors Drive Most Venture Capital Deals on the Continent in 2024

Apr 17, 2025 | Ecofin Agency
  • African-based investors accounted for 31% of all VC backers in 2024, up from 29% the year before
  • Total venture capital activity in Africa dropped to $2.6 billion, reflecting a global investment slowdown
  • Median deal size rose sharply despite fewer transactions, with debt financing continuing to grow

African investors played a bigger role in Africa’s venture capital scene in 2024 than ever before. For the first time, they were the most active group backing startups on the continent, outpacing investors from North America and Europe, according to a new report from the African Private Equity and Venture Capital Association (AVCA), released on March 31.

African-based investors accounted for 31% of all investors who put money into African companies last year. That share has grown steadily over the past decade—from 19% in 2015 to 29% in 2023—before hitting this new high in 2024. In total, 188 African investors were active across the continent in 2024, compared to 176 from North America, 146 from Europe, 54 from Asia-Pacific, 44 from the Middle East, 5 from Latin America, and 1 from the Caribbean...Read more on Ecofin Agency

Source: Ecofin Agency

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