Earlier this month Stripe announced its $200mm acquisition of Paystack, a fintech startup from Lagos, Nigeria. For an African startup to exit at a meaningful figure at all is unusual enough, but that it had garnered a $200mm price tag would have been unfathomable by most observers a few short years ago — even by those long evangelizing Africa’s ‘emerging tech hub’ bona fides.
However, to certain observers and cross-border venture investors, such as us at Catapult, who’ve spent years shuttling between tech hubs outside Silicon Valley, stories like that of Paystack are becoming increasingly common. More to the point, they are a harbinger for things to come vis-à-vis Silicon Valley’s waning influence on the tech landscape; something that’s been underway for the better part of a decade and now accelerated by an order of magnitude by the impact of Covid-19. …
In our last piece, 6 Emerging Tech Trends for a Post-Covid19 World, we discussed trends that we at Catapult were seeing emerge from the current crisis. The post focused on sectors and themes across the technology landscape that have been enjoying a Covid19 ‘bounce’ or, at the very least, renewed interest from tech investors who feel, as we do, that companies focusing in these areas are well positioned to benefit from the changes in consumer behavior and commerce provoked by the pandemic.
In this post, we’ll offer 4 brief insights into what we’re currently seeing in the funding environment. Hopefully, this will provide some clarity to startup teams, fellow venture investors, and limited partners (LP) who are seeking to best navigate the current market uncertainty and position themselves for the road ahead. …
On January 30, the WHO declared COVID-19 (C19) a global health emergency. In the 9 weeks since, the lives of most everyone in the developed world has been radically altered.
COVID-19 has now circumnavigated the globe, infecting more than 100k (as of this writing) and killing thousands. Public market equities shed trillions in value as investors ponder the long-term impact of the pandemic. Global travel has ground to a halt. Conferences, film premieres and sporting events are cancelled. Virtually everywhere the public convenes sits eerily empty.
Tech has not been spared either. According to CB Insights, the biggest tech companies in the US have seen more than $500B wiped off their collective market cap since January 30, when the WHO announced a public health emergency.
So, as the 11-year bull market comes to an end and we likely head into the kind of counter cyclical environment many have long anticipated, what does that mean for tech founders, venture investors and Limited Partners? …
Venture capital is experiencing a sea change. Consider just a few of the things we’ve witnessed in recent years: