As we celebrate the 10th Anniversary of the Africa Early Stage Investor Summit, it’s a moment of reflection and pride for VC4A—a decade of unwavering commitment to nurturing and building startup ecosystems across the African continent.
A journey of transformation
A mere decade ago, on November 5th, 2013, an article penned by VC4A founder Ben White celebrated African ventures securing $12 million in funding. Today, the landscape has undergone a radical transformation, with a staggering $11.5 billion invested in African startups (equity only) between 2019 and 2023 *. This numerical evolution not only represents financial milestones but also mirrors a deeper commitment and shared conviction within the entrepreneurial community.
VC4A’s journey began in 2007, and since then, it has played a pivotal role in bringing founders together, fostering visibility for the ecosystem, and enhancing their global accessibility. The organization’s ethos revolves around the understanding that entrepreneurship lies at the core of the innovation universe, and its impact goes beyond financial metrics.
A global network of innovation
VC4A now boasts over +250,000 members dedicated to high-growth high-impact venturing, spanning 179 countries and lists more than +27,000 startups. Through its integrated infrastructure and service offering, VC4A supports entrepreneurs from ideation through to Series A. At the pre-SEED stage, VC4A connects more than +40,000 entrepreneurs to learning resources through its Startup Academy, facilitates matches to a global network of over +400 mentors, and connects entrepreneurs to incubation and acceleration opportunities through a network of +2,300 ecosystem-building organizations. Through partnerships across the public and private sector, VC4A implements targeted incubation, acceleration and pre-SEED funding programs in Tanzania, Kenya, Somaliland, Nigeria, Ghana and Morocco.
As the quality of entrepreneurship continues to improve across the continent, a growing number of companies break into the phase of scaling up. Through its award winning Venture Showcase program, VC4A identifies companies well positioned for regional and international expansion. To ensure their access to capital, entrepreneurs receive Investor Readiness Training (IRT) and participate in facilitated dealrooms with leading investors focused on emerging market opportunities. The impact is tangible — $800 million raised across 126 investment rounds with 107 different investors, 20% having made more than one investment. 38.12% of the supported companies are led by women, having collectively raised $305 million, and far exceeds the industry average of 19%.
The companies have created 9,267 jobs of which 87.5% are held by youth and 42% are held by young women. Top 4 sectors include Fintech, Retail/E-commerce, Transportation & Logistics, and Healthcare. The leading geographies being Nigeria (29), Kenya (19), Egypt (14), South Africa (14), Senegal (10), and Cote D’Ivoire (7). Celebrating the subsequent milestones and success of these ventures, VC4A is eager to take its own efforts forward and to further scale its impact.
Commitment to 10x early stage investing in Africa
Looking ahead, VC4A is unwavering in its commitment to 10x early stage investing in Africa. The focus remains on supporting entrepreneurs across the continent who are diligently working to unlock the continent’s immense potential. Actively growing the pipeline for investment, VC4A endeavors to work with strategic stakeholders needed to ensure the necessary resources and capital are brought to the table. The organization continues to seek out collaboration with partners, investors, and stakeholders ready to drive the next chapter of early stage investing in Africa.
In a world that sometimes emphasizes short-term gains, VC4A’s message is clear—the goal is to build businesses with robust fundamentals that can withstand the test of time. The organization is determined to be a beacon of entrepreneurship excellence and fosters partnership with investors dedicated to the well being of the continent. Together we offer a healthier more sustainable alternative during times of market exuberance that is necessary to ensure long-term impact.
* Africa, the Big Deal – https://thebigdeal.substack.com/