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SA VC fund Empowerment Capital to make multi-million investments into SA startups


Executive directors of South Africa VC firm  Empowerment Capital Investment Partners expressed optimism on the opportunities that exist when offering digital solutions that address the challenges faced by society.

The firm confirmed an investment of R162 million into 13 South African startups between July 2019 and February 2021. Empowerment capital will inject R32.5 million into three earmarked ventures in February. The deals cover the food, beverage, and agricultural sectors, with biases towards various technology platforms and marketplaces.

Anton Baumann and Mark Fitzjohn, the executive directors of Empowerment Capital, shared with ITWeb how all their transactions with the exception of two have a tech angle. They also revealed that the startups would receive funds ranging from R3 million to R30 million.

Investments by the firm are between 26% and 40%. They are also vetted by the board of directors and corporate partners. Empowerment Capital Investment Partners was founded in 2015 by Baumann and Fitzjohn. The firm runs Imvelo Ventures, Andzani Ventures, and Thuthuka Nathi Ventures as investment funds.

The Andzani fund focuses on agriculture, forestry, and the renewable sectors in South Africa. Imvelo focuses on fidtech, fintech, and propertytech. Thuthuka Nathi is more focused on innovative retail. Despite reduced economic activity witnessed last year, the company considers last year as its most active year.

Despite the reduced economic activity in 2020, the company described last year as very busy. Part of its corporate partners is Capitec Bank, Shoprite Checkers, and Sappi.

Read more on ITWeb


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