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New AI fund worth R500-million launches in South Africa

Sha - Britegaze CEO

BriteGaze is an Artificial Intelligence venture has been launched by Reshaad Sha, the former Liquid Telecom CEO in South Africa. The venture just completed a feasibility study on the launch of its Fund One project.

Sha was responsible for the turnaround of Liquid Telecom when he took the top job of CEO on 1 June 2018. He oversaw the growth of its digital services and roll-out of enhanced network services suited for consumers and enterprises across the country. His stewardship culminated in a R6.5-billion acquisition of Neotel.

Launched on 10 October 2020, BriteGaze is a fund specifically focused on growing businesses aiming to build capacity through artificial intelligence. Sha will leverage his extensive knowledge and expertise in the telecommunications sector to narrow down on companies that solve complex challenges facing the industry through business optimization. He also expects the company to meet its R500-million funding target over the coming months.

BriteGaze will partner with businesses that bring unique solutions through value creation while covering all aspects of artificial intelligence, digital payment solutions, and the Internet of Things (IoT). Investments will target businesses with an established customer base and aiming for a rapid growth trajectory. Where the need arises, Brites can co-create solutions with partners they believe have the right scope and depth to address specific challenges faced in the telecoms industry today.

Sha has been fortunate to work for leading technology and telecom companies, i.e LogicaCMG, and Cisco. You can find more details on this development on My Broadband, check it out here.


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