After hiring Raise’s founder, Carta sets out to fix Africa’s private capital infrastructure
- Carta is building localized products for the African private capital market as part of its expansion strategy.
- Marvin Coleby, former CEO of Raise, has joined Carta to lead product development for Africa, the Middle East, and Asia.
- African startups raised $3.5 billion in 2023, down from $6.5 billion in 2022, but local fund managers are increasing their investments.
Carta's strategic move to localize its offerings in Africa is commendable, as it recognizes the unique challenges and opportunities within the continent's startup ecosystem. However, the success of this initiative will heavily depend on the company's ability to provide relevant data and insights that can foster investor confidence and drive capital flow into African startups.
