- French entrepreneurs Nils Denis and Henri Huet have launched Kilima Partners, a financial advisory firm focused on mergers and acquisitions and fundraising for African technology companies.
- African startups raised $2.16 billion from January to September 2026, down 4% from a year earlier, as equity funding increased 23% to $1.5 billion while debt financing fell 33% to $669 million.
- Nigerian startups raised $635 million by the end of September 2026, 2.6 times the $247 million they raised a year earlier, while Nigeria, Kenya, Egypt and South Africa accounted for 85% of startup funding across markets with identifiable national headquarters.
French entrepreneurs Nils Denis and Henri Huet, both former executives at financial advisory firm Raisers Partners, announced the launch of Kilima Partners on Thursday, Oct. 22. The France-based firm will advise companies on mergers and acquisitions and fundraising, with a focus on Africa’s technology sector.
Kilima Partners plans to support companies throughout their life cycles, from their first funding rounds to exit transactions. The firm will help startups raise capital from venture capital funds and business angels, as well as secure financing to support their growth.
Its services will also cover full and partial business sales, secondary share sales and the search for partners in Africa and international markets.
“Our ambition with Kilima is to provide the highest level of support to African tech founders and investors, becoming the trusted partners they need, from venture and growth rounds to acquisitions, secondary sales and exits,” Nils Denis, the firm’s co-founder, said.
Equity funding rises as debt declines
Kilima Partners enters the market as funding trends for African startups diverge. According to data published on Wednesday, Oct. 7, by the platform Africa: The Big Deal, African technology companies raised $2.16 billion from January to September 2026, compared with $2.24 billion during the same period in 2025.
Equity funding reached $1.5 billion, a 23% increase from a year earlier. In contrast, debt financing fell 33% to $669 million, down from about $1 billion in the first nine months of 2025.
Geographically, Nigeria recorded a sharp increase in startup funding. Companies headquartered in the country raised $635 million by the end of September 2026, 2.6 times the $247 million they raised during the same period a year earlier.
Meanwhile, Nigeria, Kenya, Egypt and South Africa accounted for 85% of funding raised by startups with identifiable national headquarters, excluding companies with pan-African headquarters, by the end of September 2026. The four markets represented 83% of the total during the same period in 2025.
Chamberline Moko
