Africa’s tech sector is on the brink of a breakthrough as venture capital, talent and connectivity converge to support a new generation of innovators.
This is according to Kevin Dillon, co-founder of Africa Bridge Fund, who says the time has never been better to unlock the continent’s potential in tech innovation and artificial intelligence.
“Africa has all the ingredients for success: innovative talent, unmatched entrepreneurial spirit, and a growing tech ecosystem,” explains Dillon.
Dillon’s career spans over 40 years across some of the world’s fastest-growing tech markets. In the 1980s and ’90s, he witnessed Silicon Valley’s rise firsthand, working at Price Waterhouse and Microsoft, later helping the latter establish its footprint in Europe as its first CFO for the region.
“What made Silicon Valley thrive in the early days was a seamless interplay of risk-tolerant capital, world-class universities, and a culture of collaboration,” Dillon said. “I learnt early on that it takes an ecosystem to raise a startup.”
By the early 2000s, Europe was staging its tech renaissance. As CFO for Microsoft’s European operations, Dillon saw the European Union’s integrated market and policy support spur cross-border investment and talent mobility – factors he says are directly applicable to Africa’s ambitions today.
Taking the lessons learnt, in 2004 Dillon co-founded Atlantic Bridge, a growth-equity firm that has invested in 110 deep technology companies, achieved 38 successful exits (including seven unicorns), and partnered with leading university innovation hubs to further build the ecosystem and pipeline across Europe.
“Building an ecosystem means more than backing individuals,” he said. “It’s about creating the right conditions – capital, connections, and mentorship – for startups to flourish.”
While the African context is unique, Dillon sees the same elements arising in the African tech and venture startup scene as he saw in Silicon Valley and Europe decades before. In response, he co-founded Africa Bridge Fund along with Managing Partner, Frank McCosker, to focus on four critical pillars that must be in place for tech startups to thrive – capital, connectivity, co-investors, and talent.
Syndicating investments can provide startups with the full suite of resources to succeed. This support will help companies to move from startup, through scale-up, to exit. These local success stories become the flagships that position the continent as a tech hub.
‘We believe by investing in both the venture and technology ecosystems together, the foundations will be built to enable African entrepreneurs to thrive on the world stage,’ said McCosker.
According to Dillon, African tech ventures generally fall into one of three categories:
- Regional Solutions: Technologies designed to address local challenges, such as off-grid energy or water purification systems.
- Adaptations: Customising proven innovations from the US, Europe or Asia for local markets.
- Global Champions: Building breakthrough technologies in Africa that can compete on the world stage.
“Each model requires different support structures, but all depend on healthy capital flows nd strong partnerships,” Dillion said.
McCosker highlights a powerful convergence of factors making 2025 pivotal for Africa tech.
“The continent’s demographic dividend – home to the world’s youngest population – fuels entrepreneurial creativity, while lower development and operational costs enable startups to hit technical milestones on lean budgets,” he said.
At the same time, the new wave of AI-based technologies – like the cloud, mobile and internet waves before – are accelerating innovation and growth at an unprecedented rate. African domestic participation in venture capital deals has also risen from 19 per cent to 31 per cent of total inflows over the past decade.
“The global shift toward digitalisation and sustainability means African startups are uniquely positioned to deliver both profit and purpose,” says Dillon.
