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Venture capital

  • Jobs portal SEEK pumps $20-million into Private Property’s classifieds empire

    Australian jobs portal SEEK has invested US$25-million (R205.53-million) in One Africa Media (OAM), previously named Private Property Holdings. The deal will help the South African-based classifieds company expand its operations in Africa. A significant portion of the group is owned by Tiger Global Management, the New York-based venture capital fund that already partners with SEEK in other ventures across Asia and Latin America. OAM is best known for its Private Property real...

  • Crowdfunding platform Thundafund rolls in over SA startup landscape

    South Africa's crowdfunding space expanded earlier this month with the launch of Thundafund, the Cape Town-based crowd-powered startup funder. While crowdfunding in Africa has yet to reach the heights of similar initiatives in the US and UK, Thundafund founder, Patrick Schofield is bullish on the model's future on his home continent. "Crowdfunding is going to fundamentally change the way we start many new enterprises in South Africa. Crowdfunding allows the many to vote with their wallets to decide what is made in our world. Thundafund will be driving this movement in creative and innovative development in South Africa and Africa." On...

  • OnFarm Systems gains funding from Invested Development

    Invested Development recently invested in OnFarm Systems, an agriculture technology startup that aims to combine software and hardware to provide a platform of information to better management and decision-making. Invested Development is an early stage investment fund manager that focuses on reducing poverty by providing risk capital investments in early stage startups and support "radically affordable and innovative solutions to poverty in alternative energy, mobile technology, and agricultural technology." Californian based OnFarm joins software and hardware to provide a better management and decision-making platform for farmers. Using anything from soil moisture sensors to weather stations, OnFarm combines these multiple data sources...

  • Fab receives $150 million in Series D funding, led by China giant Tencent

    Fab, the gay social network turned ecommerce-design service with 14-million registered members, is now worth over US$1-billion after it received US$150 million in Series D funding. One of the investors involved in the round was none other than Tencent, China's largest listed Internet company whose services include social networks, ecommerce and web portals. Fab's impressive valuation has almost doubled since its last round of funding a year ago, but the company remains unprofitable, according to The Wall Street Journal. This indicates that Tencent's interest in the American startup could be just as much about directly selling Fab products through its...

  • Startup Stock Exchange: global market for startup investing set to launch

    On 10 June 10, 2013, the Startup Stock Exchange (SSX) will open its marketplace for startup investing and funding. On SSX, investors of any level can buy shares of vetted startup companies, and shares are traded freely -- investors can buy or sell anytime and control their own account. For startups and small businesses, SSX is a compelling way to raise funds. SSX continues the trend of online angel investing, set by services such as Seedrs (UK), SeedInvest and AngelList (US). When SSX opens investors will be able to buy shares in two companies. Underling SSX's parallels with a stock exchange...

  • Bloomberg launches $75 million venture capital fund Bloomberg Beta

    International news agency Bloomberg is taking a shot at the venture capital game with its new fund, Bloomberg Beta, which was launched yesterday and is designed to invest in early-stage startups. Headed up by Roy Bahat, the former head of IGN Entertainment and current chairman of Ouya - the open source, Kickstarter-funded video game hardware startup -- the US$75 million fund has already invested in nine companies such as ProsperWorks, Codecademy and Newsle. Bloomberg Beta is an independent entity to Bloomberg (although the latter remains its sole limited partnership), but the fund could well leverage Bloomberg's areas of expertise...

  • VC in South Africa: Where are we now? [Net Prophet]

    "If this elevator goes down, so does the Cape Town VC industry." That's what Justin Stanford, co-founder of investment management group 4Di and 4Di Capital, told fellow Venture Capital investor, Keet van Zyl a few years ago on the way to an event. That's how small the VC space is in the Cape. Speaking to the Net Prophet 2013 audience Stanford, who is also the co-founder of the Silicon Cape initiative, spoke of the current state of the Cape Town VC space. "Where are we now? Lacent... but it's growing." Stanford seems upbeat and optimistic about the Cape's ecosystem, even in the...

  • With new asset class, Grovest wants to disrupt VC in South Africa

    Grovest Venture Capital introduces a new asset class today. Investors are encouraged through incentives like tax relief as well as the growing attractiveness of the VC industry in South Africa. Although this asset class is the first operational venture capital fund introduced in South Africa, it has proven to be very successful in the UK. By having attractive incentives, Grovest aims to encourage investments which will further help grow the venture capital industry in South Africa. In order to boost and further drive this industry, tax relief incentives as well as tax-free dividends are included. Tax relief of as...

  • A lack of funding in Malaysia? No way, says government-linked tech investor

    Earlier this week, Malaysia-based media house The Star announced its latest US$6.59 million dollar fund to invest in technology startups. Other than the new accelerator fund, Cradle Fund is another Malaysia government linked technology investor. Cradle started in 2003 under the purview of the Malaysia Ministry of Finance to address the lack of early stage funding in Malaysia. 10 years on, Cradle has helped provide funding and various training programmes to startups through...

  • The Star launches $6.59M fund to invest in Malaysian startups

    Star Publications, a media company in Malaysia which also runs Star Publications, has just launched a MYD 20 million (US$6.59 million) fund to invest in Malaysian startups. The fund, called The Star Accelerator Fund is offered in two forms: pre-seed fund and the seed fund. The pre-seed fund provides each applicant with up to MYR 300,000 (US$98,800) while the seed fund offers support of up to MYR 1 million (US$329,000) per applicant. The decision on which fund to apply for is determined by the stage of development of the applicant’s business. Who can apply? How does a startup qualify...