South of the Cap Table
| Platform |  | Pricing | Only free issues | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 6 | Founded | 2 months ago | Last Issue | 9 days ago |
| Active | |||||
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African tech's next chapter looks less like software and more like infrastructure
African tech debt funding crossed $1 billion in 2025, for the first time in a decade. When the dominant form of capital shifts from equity to debt, it means investors stopped betting on stories and started demanding assets. Collateral. Cash...
Can Tibi's Midas touch make Europe follow?
0.018%. That is the share of their assets that European pension funds allocate to venture capital, on average. The equivalent figure for US pension funds is 1.9%. Not a gap. A hundred times.
That single number explains more about Europe’s...
Who benefits when a European startup succeeds?
In March 2026, Yann LeCun raised $1.03 billion for a company with no product, no revenue, and four months of existence. Europe’s largest seed round ever. And he chose Paris deliberately.
“There is certainly a huge demand from the industry...
Are we funding the right layer of African tech?
Are we funding the right layer of African tech?
“Africa is not counter-cyclical, delayed, or disconnected. It is, at times, all of these at once.”
2025 was a record year for African tech funding. That’s the headline. Here’s what it doesn’...
The European VC market is moving upward, who's watching what happens at the bottom?
I kept hearing about the European VC rebound. Record numbers, mega-rounds, the market roaring back. I wanted to understand what that actually meant, and where micro-funds fit in a market that seemed to be pulling in a very different directi...
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VC, capital and markets — from someone who's never stayed on just one side of the table. Startups, IB, M&A and consulting. South of the cap table has two meanings: those who saw what others missed. And the South — where I'm from - By Chaïma Bououni
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