Chasing Outliers Why Context Matters for Early-Stage Investing in Africa

As Africa’s technology markets mature, early-stage investing on the continent has the potentially catalytic effect of fostering innovation, developing a vibrant ecosystem, building long-term value into the economy, and creating millions of jobs. Despite its increasing importance, though, it still suffers from mass misperceptions and unanswered questions. What factors impact the survival/success or failure of African startups? What structural challenges must operators contend with and overcome? What drives outcomes for the venture investors funding and enabling innovation on the continent? What assumptions are baked into the current funding model, and to what extent do they apply to these markets?