Why Launch Africa returned $2.5 million to investors after 11 exits

Launch Africa, the pan-African venture capital firm with more than 180 portfolio startups, has returned $2.5 million to investors in its first fund after completing 11 exits, joining the small group of African investors that have actually returned liquidity to limited partners (LPs).

African venture capital has had a returns problem. Funds were raised aggressively between 2018 and 2022,…