South African venture capital fund managers committed over R3 billion to early-stage investments in 2023, says SAVCA.
ICT-focused start-ups received the highest number of venture capital deals in 2023, as South African VC fund managers committed over R3.28 billion to early-stage investments.– an annual research initiative by the Southern African Venture Capital and Private Equity Association .
Activity by number of deals has remained stable, with a slight decrease in 2023 as the number of entities receiving funding slowed down, with more investments going into the same companies . Similar to the previous year, a noticeable feature was the growth in co-investment activity, demonstrative of corporations and foreign investors investing alongside early-stage fund managers, notes the study.In line with the global trend for VC-type investments, the ICT sector, which combines several active sub-sectors − such as fintech, edtech, software, e-commerce and online − continued to outweigh the investment activity in other sectors, according to the latest SAVCA survey.
E-commerce made a significant jump from 2022 levels – a testament to the continued uptick in online shopping that was seen and rapidly developed during and after the pandemic years, it says. The average deal size of VC transactions by angel investors amounted to R6.15 million – a relatively large value when compared to the average deal size coming from independent funds, which currently equates to R7.47 million, states the research.
Venture Capital SAVCA Tshepiso Kobile Start Ups Early-Stage Businesses Southern African Venture Capital And Private Equi
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