In the grand theatre of venture capital, the journey from Series A to C represents less a smooth incline than a gauntlet of increasingly demanding tests. Each funding round is a different contract with different metrics, risks and expectations. Understanding these distinctions—and learning from recent African success stories—matters profoundly for founders building scalable enterprises and for investors seeking defensible returns. The past decade has witnessed Africa’

…How Africa’s Startups Climb the Venture Ladder.

In the grand theatre of venture capital, the journey from Series A to C represents less a smooth incline than a gauntlet of increasingly demanding tests. Each funding round is a different contract with different metrics, risks and expectations. Understanding these distinctions—and learning from recent African success stories—matters profoundly for founders building scalable enterprises and for investors seeking defensible returns. The past decade has witnessed Africa’