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History has been made. More than $7.2bn (nearly €6.8bn) was raised on the continent through the first three quarters of 2022, almost completely eclipsing 2021’s fundraising numbers. Though 2022’s fourth quarter numbers have not yet been released to the general public, 2022 is already shaping up to be one of the most prosperous years in the history of African private equity. 10 years after Africa Rising, the sector has witnessed a true growth in interest.
According to figures provided by the African Private Equity and Venture Capital Association (AVCA) – a leading organisation in this sector – the number of venture capital operations exploded over the first six months of the year, with a total of 338 deals against just 195 over the same period 12 months prior.