We’re still in the season of receiving funding reports from 2020. WeeTracker and Africo put together
the 2020 funding report for South Africa.
With a population of 57.8 million and a GDP of $351.4 billion, South Africa is one of Africa’s largest economies. Here’s how Venture Capital performed.
The total amount raised was $175m.
It came from over 80 deals spread across 20+ industries.
Notably, 58% of the total amount raised came from 3 deals – Jumo $55m, Skynamo $30m and Aerobotic’s $17m. While a few companies got most of the money, it’s still an improvement from 2019, where the top deal was $12m.
The Fintech Industry, Information Technology, Analytics, and Big Data were the top industries with higher fundraise and investment deals.
53% of the total investment happened in the first quarter, while the 2nd, 3rd, and 4th quarters accounted for 12.9%, 16.4%, 16.8% of the total investment respectively.
Kalon Venture Partners, Naspers Foundry and Enygma Ventures were the top investors.
Interestingly all of them were for undisclosed amounts. Africa Fashion International acquired Wezart. Cape Town-based social media content company Over got acquired by GoDaddy. Knife capital-backed Snapplify acquired Onnie Media/ Teacha.
Read more: South African Venture Capital Performance 2020