African Venture Firm Makes History with Andela’s $40M Investment

Last week it was announced that pan-African software developer training company Andela has secured $40M in Series C funding.

The round, led by African venture capital fund CRE Venture Capital, with participation from others including TLcom Capital (whose Africa-focused fund is led by a former Nigerian ICT minister), marked one of the largest investments ever led by an African venture firm into an Africa-based company.

In this article, Yomi Kazeem explains why African startup founders can finally start looking for big-ticket funding closer to home, and raise significant rounds from VCs with a better understanding of local markets.

Read the piece in Quartz Africa here