Technology
South Africa Fund Plans $609 Million VC Raise With Exits Rising
Key Points
Startups South Africa Fund Plans $609 Million VC Raise With Exits Rising A key South Africa fund plans to raise as much as 10 billion rand ($609 million) in venture capital to help scale high-growth startups, a move that would expand its technology sector and accelerate the development of one the continent’s most mature startup markets. The South Africa SME Fund aims to secure an initial 2 billion rand in 2027 and will leverage this to raise the rest from other institutions, Chief Executive...
Startups
South Africa Fund Plans $609 Million VC Raise With Exits Rising
A key South Africa fund plans to raise as much as 10 billion rand ($609 million) in venture capital to help scale high-growth startups, a move that would expand its technology sector and accelerate the development of one the continent’s most mature startup markets.
The South Africa SME Fund aims to secure an initial 2 billion rand in 2027 and will leverage this to raise the rest from other institutions, Chief Executive Officer Ketso Gordhan said in an interview. Set up by the CEO Initiative, a group helmed by the leaders of the 50 biggest corporates on Johannesburg’s bourse, the fund aims to address barriers to growth and build a stronger entrepreneurial ecosystem.