Regarding startups headquartered outside of Africa, the source specifies that several of them are "founded by members of the African diaspora or alternatively raised venture funding to expand or maintain their African presence.".
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Share of number of VC deals in Africa 2020, by country
South Africa accounted for ** percent of the total volume of venture capital (VC) deals closed in Africa between 2014 and 2020, the highest percentage on the continent. To follow, ** percent of the early-stage investments were attracted by startups headquartered outside Africa. Most of these startups were based in the United States, Canada, and United Kingdom. Other African countries attracting significant VC investments were Kenya, Nigeria, and Egypt.
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African Private Equity and Venture Capital Association. (July 1, 2021). Distribution of number of venture capital deals in Africa between 2014 and 2020, by country [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 05, 2026, from /statistics/1289413/share-of-number-of-vc-deals-in-africa-by-country/
African Private Equity and Venture Capital Association. "Distribution of number of venture capital deals in Africa between 2014 and 2020, by country." Chart. July 1, 2021. ÌÇÐÄÆƽâ°æ. Accessed August 05, 2026. /statistics/1289413/share-of-number-of-vc-deals-in-africa-by-country/
African Private Equity and Venture Capital Association. (2021). Distribution of number of venture capital deals in Africa between 2014 and 2020, by country. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 05, 2026. /statistics/1289413/share-of-number-of-vc-deals-in-africa-by-country/
African Private Equity and Venture Capital Association. "Distribution of Number of Venture Capital Deals in Africa between 2014 and 2020, by Country." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 1 Jul 2021, /statistics/1289413/share-of-number-of-vc-deals-in-africa-by-country/
African Private Equity and Venture Capital Association, Distribution of number of venture capital deals in Africa between 2014 and 2020, by country ÌÇÐÄÆƽâ°æ, /statistics/1289413/share-of-number-of-vc-deals-in-africa-by-country/ (last visited August 05, 2026)
Distribution of number of venture capital deals in Africa between 2014 and 2020, by country [Graph], African Private Equity and Venture Capital Association, July 1, 2021. [Online]. Available: /statistics/1289413/share-of-number-of-vc-deals-in-africa-by-country/
