Baobab Briefing: Q2 2020 Africa VC Funding Report

Technology companies across Africa secured $153.969 million USD across 102 deals in the second quarter of 2020, a reduction of 49.8% on Q1 2020 which saw companies raise $306.365 million USD across 110 deals.

But while the broader narrative has been defined by coronavirus (COVID-19), our analysis also indicated a shift in focus both in terms of stage of deal and sectors of interest. Over Q1 and Q2 2020 there has been an increase in seed funding as a proportion of total funding, and the healthcare and education technology sectors have both seen increased funding over the past quarter.

As economies across the globe begin to discuss how to end lock-down, are we beginning to see investment activity return to normality or the shape of what a ‘new normal’ could look like?

In this report, we take a closer look at some of the key investment trends over Q2 2020, and analyse the sectors and companies that have caught our eye since early April.

graph showing number of deals per round type since 2015

This report was first published in July 2020.

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