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Getting funding in 2024!

Hello Venturer,

While Africa has attracted numerous investors over the years, it appears that enthusiasm is dwindling. In 2023, there was a significant 39% year-on-year decline in African startup funding. In 2022, Oluwatosin Ogunjuyigbe of Ventures Africa highlighted the lack of "unicorns" in Africa's digital economy, suggesting that initial optimism has given way to closer scrutiny.

What's the way forward for startups? Join us at 4 PM today, Thursday, 1st of February, 2024 at Ventures Africa's LinkedIn Audio Event to discuss Getting Funding in 2024.

Meet our speakers!

Uwem Uwemakpan is the Head of Investments at Launch Africa VC, a leading venture capital firm specializing in early-stage African startups. With a decade of experience driving innovation and entrepreneurship through strategic investments, Uwem is dedicated to fostering the growth and success of startups in Africa.

Eunice Ajim, a venture capitalist and founding partner of Ajim Capital, is a 2x founder who transformed a tech startup from homelessness to a multi-million dollar business. She later launched a $10M Africa-focused fund, emphasizing wealth creation through African investments. As a Cameroonian-American Tech Entrepreneur and Investor, Eunice is passionate about scaling startups, creating wealth, and leading a fulfilling life.

VA Poll

Recently, we asked our LinkedIn audience their thoughts on the decline in African startup funding. The feedback we got indicates that a majority of respondents (47%) believe that the main reason for the decline in African startup funding is increased investor risk aversion. This suggests that investors may be more cautious and less willing to take risks in the current environment. 33% attribute the decline to the global economic downturn, emphasizing the broader economic conditions' impact on funding. A smaller percentage (13%) thinks that the lack of attractive startups in Africa is a contributing factor. The "Other" category, chosen by 8% of respondents, allows for additional, unspecified reasons.

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