Gold Rush: Venture capitalists keen to harness opportunities in African startups

2021 was a significant year for venture-backed companies worldwide, investing more than US$ 675B into startups globally, with more than US$5B allocated to African startups VCs have been keenly eyeing a spectrum of sectors from fintech, edtech, biotech, health tech, insurtech, mobility, logistics, e-commerce, crypto, connectivity, proptech, software and mobile commerce A report from Partech further reveals that more than 600 tech companies in Africa, raised US$5.2B from venture capitalists in 2021.  Striking whilst the iron is hot, is the shrewd move that Venture Capitalists (VC) are making, to seize opportunities presented by the lucrative African Startup ecosystem that is burgeoning by the day; heralded by the massive technology wave sweeping across the continent, a prominent harbinger that the fourth industrial revolution is but within grasp. Currently, Africa boasts of a myriad of VC-backed startups, with big investors like Jeff Bezos sinking tentacles into this frontier, that has seen the emergence of several unicorns. Venture Capital has proved to be a vital source of funding for the acceleration of early-stage startups, encouraging innovations and empowering entrepreneurs, to bolster economic development and foster poverty eradication, through employment creation. VCs have been keenly eyeing a spectrum of sectors from fintech, edtech, biotech,