Blog•Mar 17, 2026
As Flat as the Top of Table Mountain 🚠
The Big Deal analysis shows African startup funding has settled into a steady “cruising speed” of about $3.1 b over the past year, a level maintained since August 2025. This plateau follows a volatile cycle that peaked at $6.3 b in mid‑2022, fell to roughly $2 b in 2023‑24, and now hovers within a narrow ±$90 m band. Funding composition has shifted, with debt accounting for roughly 39% of the total, while equity contributes about $1.8 b and debt $1.2 b. The number of ventures raising $1 m+ and $10 m+ remains flat around 211 and 65 respectively, and early‑stage deal volume has contracted proportionally, raising questions about the pipeline for future larger rounds.
