SAVCA VENTURE CAPITAL INDUSTRIAL SURVEY

The standout features in the latest survey include a rise in corporate co-investment alongside early-stage fund managers, resulting in a total capital flow to startups of more than R3bn, for the first time since the first survey was conducted in 2010! In 2023, the South African VC asset class had R10.73 billion invested in 1,106 active deals, an increase of 17.8% or R1.62 billion compared to the previous year.

2023 defied the downward trend in annual deals seen since 2020, with investments totalling R3.28 billion reported for the year. The increased participation by corporations and investors (particularly DFIs and Fund of Funds) is very encouraging.