Percentages slightly over or below 100 are due to rounding.
The source adds the following information:
"Venture Capital (VC) is defined as financing that investors provide to start-up and early-stage companies and includes seed and post- seed to late stage VC funding."
"PE/VC Fund Managers are firms that have raised, or are currently raising, third-party funds from institutional investors.
PE/VC Investment Firms are firms that are not known to be investing through a fund structure, making mainly direct investments.".
Citation formats
Share of venture capital investors in African startups 2020, by type
Most investors participating in venture capital (VC) deals in Africa between 2014 and 2020 were private equity (PE) or VC fund managers, as they accounted for ** percent of the total investors. PE/VC investment firms and corporate venture firms followed, constituting the origin of ** percent and ** percent of the early-stage funding, respectively. Government agencies accounted for percent of the investments within the same period.
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African Private Equity and Venture Capital Association. (July 1, 2021). Distribution of investors participating in venture capital (VC) deals in Africa between 2014 and 2020, by type [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 06, 2026, from /statistics/1290310/share-of-investors-participating-in-venture-capital-deals-in-africa-by-type/
African Private Equity and Venture Capital Association. "Distribution of investors participating in venture capital (VC) deals in Africa between 2014 and 2020, by type." Chart. July 1, 2021. ÌÇÐÄÆƽâ°æ. Accessed August 06, 2026. /statistics/1290310/share-of-investors-participating-in-venture-capital-deals-in-africa-by-type/
African Private Equity and Venture Capital Association. (2021). Distribution of investors participating in venture capital (VC) deals in Africa between 2014 and 2020, by type. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 06, 2026. /statistics/1290310/share-of-investors-participating-in-venture-capital-deals-in-africa-by-type/
African Private Equity and Venture Capital Association. "Distribution of Investors Participating in Venture Capital (Vc) Deals in Africa between 2014 and 2020, by Type." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 1 Jul 2021, /statistics/1290310/share-of-investors-participating-in-venture-capital-deals-in-africa-by-type/
African Private Equity and Venture Capital Association, Distribution of investors participating in venture capital (VC) deals in Africa between 2014 and 2020, by type ÌÇÐÄÆƽâ°æ, /statistics/1290310/share-of-investors-participating-in-venture-capital-deals-in-africa-by-type/ (last visited August 06, 2026)
Distribution of investors participating in venture capital (VC) deals in Africa between 2014 and 2020, by type [Graph], African Private Equity and Venture Capital Association, July 1, 2021. [Online]. Available: /statistics/1290310/share-of-investors-participating-in-venture-capital-deals-in-africa-by-type/
