HomeNewsAfrican start-ups raised $180 million in November

African start-ups raised $180 million in November

November 2024 saw a slowdown in global venture capital investment.

According to data published by the platform Africa: The Big Deal, African startups raised a total of $180 million.

This amount, excluding exits, breaks down as follows: $122 million in debt (68%), $55.5 million in private equity (31%) and $2.5 million in grants (1%).

Overall, African start-ups have raised a total of $1.86 billion since the beginning of 2024, split between $1.2 billion in equity (64%), $635 million in debt (34%) and $33 million in grants (2%).

Although the $2 billion threshold could be reached by the end of December, these figures are well below the $2.8 billion raised in 2023.

The geographical breakdown of investment remains largely concentrated in Nigeria and Kenya, which alone absorbed 76% of the funds raised.

In November, the largest transaction was led by Sun King, a Nigerian off-grid solar company, which received an $80 million loan from the International Finance Corporation (IFC).

This financing, representing 44% of the total raised in November, underlines the continued investor interest in sustainable energy solutions in Africa.

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