Brett Commaille, Hlayisani Capital

Is South Africa’s venture capital (VC) sector in trouble? While equity funding globally has dried up following 2021 and 2022’s veritable funding fest, some worry that the country’s VC sector is underperforming relative to its African peers.

Three years ago, Sheraan Amod raised $1.5m from a number of investors, including the Vunani Fintech Fund, for his startup Recomed, which helps patients book doctors’ appointments. Last year, it won investment from Eisai, a Japanese pharma company (it didn’t disclose the amount raised). But securing the new money wasn’t easy, says Amod.