Abstract

This study aims to understand the impact of fundraising innovations on sustainable growth in emerging markets. It opted for a multiple-case study research design using different sources of evidence, including nineteen semi-structured interviews. The subject matter experts (SMEs) were selected using a purposive selection method. The theoretical framework of Porter and Kramer is used. The results suggest that crowdinvesting, initial coin offerings, and accelerators might facilitate sustainable growth of private equity and venture capital markets in Africa due to entrepreneurial ecosystems and networks. The findings are relevant for founders and investors. The study contributes to the literature on entrepreneurial finance in emerging markets.

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