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Silicon Valley has become more a State of Mind than a geography as other tech hubs gain influence.

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. …

About

Jonathan Tower

Jonathan is Founder and Managing Partner at Catapult, a global early stage venture firm with assets in multiple geographies.

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