Crypto Valley Venture Capital has published a recent report about cryptocurrencies, blockchain, and decentralization in Africa. Here are some of the following interesting insights and facts.
2022 global venture funding declined by 35% compared to the previous year but remained 40% higher than in 2020. The funding and deal counts declined in each quarter of 2022, showing a more subdued market than the record-breaking year 2021. Despite this decline, blockchain-specific venture funding in 2022 reached high levels similar to 2021.
The pecking order of global regions in terms of total funds raised remained relatively unchanged, with the US leading in funds raised and Asia leading in total deal count. Africa saw the most significant increase in its share of global venture dollars, while Latin America had the most significant decline. Europe reached a 5-year high in its share of global deals.
Early-stage deals increased for the third consecutive year, while later-stage deals declined to a five-year low due to decreased confidence in valuations and underlying business cases. This shift, along with a decline in median deal size for late-stage deals, significantly impacted venture dollars raised.
Critical insights for global venture funding include a decline in funding and deal counts in 2022 compared to the record-breaking year of 2021. The US still raised the most funds, but its share decreased, benefiting Asia and Canada. The early-stage deal share increased while the average deal size declined. Mega-round funding and deals also decreased globally.
African venture funding saw a 34% increase in funds raised and a 5.4% increase in deal counts compared to 2021. Africa's share of global venture funding increased from 0.37% to 0.76%. The median deal size in Africa surpassed $1 million for the first time on record, and mega-round deals increased in the region.
In the context of the global economic and socio-political challenges faced in 2022, blockchain venture funding defied expectations and had a good and significant year. Despite tensions, the global pandemic, and cautious investor sentiment, blockchain funding markets performed well, building on the growth seen in the record-breaking year 2021.
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