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Venture capital

  • Geeks on a Plane dinner details SA startup ecosystem

    The Geeks on a Plane (GOAP) dinner hosted by Wesgro and Silicon Cape provided many insights into the investment landscape in SA and Africa. The dinner also consisted of a panel discussion with Zoona's CFO, Keith Davis and investors Monica Brand Engel of Quona Capital and co-founder and CEO of Rippleworks, Dough Galen. Speaking at the dinner, was co-founder of Silicon Cape and 4Di Capital, Justin Stanford who spoke on his experience in Silicon Valley and his reason for starting Silicon Cape. He explained to the GOAP cohort and other attendees that his main takeaway from his time in the Valley was...

  • ‘Shortage of VC funding, not of black entrepreneurs’

    The US has no shortage of black entrepreneurs. The shortage rather is one of funding for black entrepreneurs, says Monique Woodard of 500 Startups. Woodard, speaking at Startup Grind Cape Town last week Friday as part of a fireside chat, made the statement in response to a question from an audience member who asked why there was a shortage of black entrepreneurs. "So, I don't think there's... comparatively, in the space... there's not a huge shortage of black entrepreneurs. There's a shortage of black entrepreneurs getting VC funding," Woodard told the audience. The 500 Startups representative and Black Founders co-founder expanded on the topic. Monique Woodard of 500 Startups says...

  • HAVAIC to advise Healthcent before investment round

    South African VC HAVAIC has announced it will advise Healthcent before its first capital raising initiative. Healthcent's app, Signapps, is a secure communication solution for the medical industry. It aims to allow the sharing of patient data via mobile phones while complying with patient confidentiality legislation. "Signapps has been trialled in South Africa’s public healthcare system and private sector health providers are now seeking to learn more about the product," says commercialisation director, Andrew Davies, in a press release. "Whilst the two sectors have different dynamics, both are responding favourably to the enhanced communication potential inherent in the product." According to the product and technology director, Michael...

  • Algebra: VC tech fund in Egypt hits $40m mark

    A new tech VC fund by Algebra Ventures has completed a US$40-million first closing. Algebra claims that it's the largest tech VC fund in Egypt. According to a press release sent to Ventureburn, the fund will invest in up 25 tech startups or "tech-enabled" startups. Focus areas include "technology IP, fintech, industry platforms, e-commerce and consumer internet", Algebra explained. As for funding amounts, Algebra confirmed that investments would mostly be in the range of US$500 000 to US$4-million. The fund is expected to achieve a final closing of US$50-million. Algebra Ventures is aiming for a rather lofty final goal, but it's only got US$10-million to...

  • Akiba wins Seedstars World Kampala, off to finals

    Innovative finance firm Akiba has emerged victorious at Seedstars World Kampala, taking the golden ticket to the final in Switzerland. The Kampala event, which took place at the Outbox Hub, saw 11 startups competing. Akiba won judges over with their attempt to make finance a lot simpler by giving users a practical and transparent management service. "We started this company because my mom was having difficulties trying to make a difference in her community. We are very happy to see that this has transformed into a business," said Akiba representative Ivan Mworozi in a press release to Ventureburn. Akiba will be one of the 65 countries...

  • SAVCA gets three new board members

    The South African Venture Capital and Private Equity Association (SAVCA) has acquired three new board members after their Annual General Meeting (AGM) held in Johannesburg on 21 September 2016. The new directors, Paul Boynton, Cathy Goddard, and Yvonne Maitin have more than 25-years experience between them. "We are pleased to welcome these three highly respected individuals to our board, who bring a wealth of industry knowledge, as well as commitment and passion for the industry," said the CEO of SAVCA, Erika van der Merwe, in a press release to Ventureburn. "All three directors already are active participants in SAVCA's various activities, including...

  • Custos Media Technologies sign R5.9-million funding agreement with TIA

    Technology Innovation Agency (TIA) has concluded a R5.9-million investment agreement with anti-piracy company, Custos Media Technologies. The two-year agreement was brought forth after Custos ended a round of financing with high-profile investors which included Innovus Technology Transfer, an undisclosed South African Angel Investor, and a New York-based Currency Group. "TIA has again shown their commitment to support early­stage technology businesses in South Africa. The funding agreement will allow Custos to accelerate product development, while simultaneously freeing up resources to spend on bringing the product to the widest possible market," said CEO of Custos, G J. Van Rooyen. "Custos is a good example of the kind of innovation ventures for which TIA was established to provide support, where science and technology advancements are the basis for creating new products, services and global enterprises," concurred the head of ICT...

  • 2015 was a record year for private equity investments in South Africa

    If you ask South African startup founders what their biggest bug-bear is, the majority will tell you it's attracting funding. But if this was ever really a problem, it's becoming obvious that it's increasingly less so. Case in point: local private equity funds reached R29.0 billion in 2015, the highest on record for the industry and up a significant 145% from R11.8 billion in 2014. That's according to the SAVCA 2016 Private Equity Industry Survey, the annual survey of private equity and venture capital activity in Southern Africa. The survey suggests that a substantial majority of the funds...

  • The world of venture capital and a peep into the basics

    Every thriving company has a founding story behind them. Usually it involves college dropouts, friends experimenting in a garage or products sold individually. It makes us wonder how they achieve it. Their success is connected to their passion, perseverance, innovation and usually just being lucky. But the important role venture capital plays in the founding of a company doesn’t usually get told. The money provided to startups in exchange for partial ownership in a business is called venture capital. It helps in changing the direction and potential of the company. Nowadays, it is a necessary in part in industries for...

  • What you need to know about investing in tech startups

    There are plenty of innovative technology startups out there offering incredible opportunities for investors. Despite this, the profits generated by such startups are not always guaranteed, and neither is their success rate. Thus, when an investor thinks of investing in these startups, a wide array of factors will need to come into play. These include the expertise of the founder as well as the scalability of the startup. Figuring that out may seem like tedious work, but it is much better than burning your money in a startup that will prove to be unsuccessful. Expertise, Network and Skill set of...