A new R300 million Seed Fund will offer essential early-stage capital to South African technology startups, enabling and empowering entrepreneurs.
As a major support for South Africa’s emerging technology sector, the SA SME Fund, DSI, TIA, and impact investor E Squared have launched a R300 million Seed Fund aimed at providing essential early-stage capital to newly established companies.The contract was finalized on Monday, September 30, in Hyde Park, Johannesburg.
It is expected that this project will provide financial support to at least 50 technology-focused startups.
TIA played an important role in the execution of this initiative. The fund addresses a significant gap in South Africa’s venture capital ecosystem, where later-stage investments like Series A and Series B historically attract more funding.
This investment is expected to be a turning point in strengthening South Africa’s venture capital landscape.
The fund is getting ready to invest in at least five experienced fund managers, which is anticipated to boost the success of numerous technology startups and support entrepreneurs in the coming years.