African startups attracted a record $3.5-billion in venture capital investment in the first half of this year, bucking a global decline in dealmaking linked to worldwide economic turmoil, data released by an industry group showed on Tuesday. The funding, raised by 300 different companies, represents growth of 133% compared to the same period last year, according to the African Private Equity and Venture Capital Association (AVCA), which promotes private investment on the continent.
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