Kenya leads in venture capital deals in East Africa

Data shows late-stage deals (which more than doubled in the last year) are appearing with increasing frequency in Africa's startup ecosystem. [iStockphoto]

Kenya led in the value of corporate deals in East Africa in the first half of this year, new venture capitalist performance data shows.

A new report by the London-based African Private Equity and Venture Capital Association (AVCA) shows overall, Egypt led in deal value on the continent at Sh42.7 billion, with 63 deals clinched over the review period, followed by Kenya at Sh40.1 billion with 54 deals.