Global VC rose 30% YoY but deal volume fell 13%; AI doubled to $210B, five firms $84B (20%). North America 66% ($280B), Europe $58B (+9%), Asia $67.2B low, LatAm $4.1B (1%). Africa only region double-digit value decline, minimal AI/megadeals.
Equity dominates African startup finance; early-stage debt ($1-5M tickets) underserved for revenue firms avoiding dilution. Constraints: local currency scarcity, high diligence costs, regulations, thin debt-ready pipelines. Blended finance/guarantees urged.
Exits hit 60+ (+43% YoY), mostly strategic/acqui-hires/secondaries; foundational rails (Paystack/Flutterwave commerce, Mono identity, InstaDeep AI) mature into larger systems. Screenshot charts show acqui-hires primary exit 2015-2025, Nigeria/Egypt top equity/debt rounds 2025, Africa VC value -21%/volume flat vs global +30%.