Caban research desk · Quarterly data

The Caban African Growth Capital Monitor

The quarterly benchmark on capital flowing into African businesses: five years of funding data, the equity–debt mix, market concentration, exits, and what it means for founders and investors — compiled by the Caban analyst desk from primary trackers and our own market position.

$3.2bRaised by African start-ups in 2025 (+40% YoY)
R1.6tnSA listed M&A in 2025 — against $83m of tracked venture funding in H1 2026
24%Spread between trackers on the same H1 2026 total
-44%Fall in start-ups raising $100k–$1m
Monitor Vol. 21 cover

Read Vol. 21 — Q3 2026 edition (latest)

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The archive: five years, twenty-one editions

Every quarter of African growth capital since Q3 2021 — the boom, the winter, the debt shift, and the recovery. Volumes 1–19 compiled as a retrospective series; quarterly publication live from Vol. 20.

Deploying into the market? Investing in South Africa: the allocator guide → · Local origination partner →

All funding statistics, one page — updated quarterly →

Beyond the research

Caban is an investor-advisor: we raise capital, run sale and acquisition mandates, and invest our own. If the data raises a question about your own business, ask a principal.

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