The performance of the venture capital VC sector in South Africa defied the downwards trend in annual deals seen since 2020 as investments hit the R3 billion mark in 2023, displaying the level of resilience that has since become synonymous with the start-up ecosystem.
The Southern African Venture Capital and Private Equity Association SAVCA yesterday said the local information and communication technology ICT stole the show once again, capturing investor interest and reiterating the sectors position as a frontrunner in economic development and innovation.
This was one of the key insights to emerge from this years SAVCA VC Survey Launch 2024 an annual research initiative by the SAVCA launched last week in Cape Town.
SAVCA CEO Tshepiso Kobile shared her ongoing conviction that the VC industry must continue to play a pivotal role in supporting high-growth start-ups and early-stage businesses, while also enabling innovative solutions to our unique challenges as a country.
The need to continuously reflect on this question and keep a close eye on the development of the sector is why research like the VC survey is so critical, Kobile said.
