Local venture capital fund formation is on the rise in Africa, led by Nigeria

Africa’s VC landscape is becoming more African with an increasing number of investment funds headquartered on the continent and run by locals, according to data from Crunchbase.

The study also tracked the emergence of homegrown corporate venture arms and more Africans in top positions at outside funds. These results derived from a year-long project to boost Crunchbase’s Africa data capture and increase awareness of its platform across the continent’s tech ecosystem.

Drawing on its database and primary source research, Crunchbase identified 51 “viable” Africa-focused VC funds globally—defining viable as formally established entities with 7-10 investments or more in African startups, from seed to series stage.

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