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All posts tagged "knife capital"

  • Knowledge, networks, funding: what’s behind VC that set up Uber exit [Q&A]

    It's just days after arguably the biggest deal so far this year -- Cape Town founded company orderTalk's exit to Uber Eats. Many may be wandering how the venture capital (VC) company behind the deal -- SA's Knife Capital -- was able land such a big opportunity. While the terms of the deal -- which was announced by Knife Capital last week -- were not disclosed, Knife Capital partner Keet van Zyl confirmed at the time that the deal is "significant in terms of return on investment". Impressively, orderTalk was the final investee company to exit from the R150-million HBD Venture Capital Fund that Knife Capital managed. Knife...

  • Uber Eats acquires SA founded tech firm orderTalk for undisclosed amount

    Uber's food delivery business Uber Eats has acquired SA tech company orderTalk from Knife Capital, the Cape Town based venture capital (VC) firm revealed today (23 May). OrderTalk provides online ordering software to restaurants that integrates with a restaurant's point-of-sale system. Knife Capital's announcement was revealed in a news story by SA tech site TechCentral. The terms of the deal -- including how much Uber Eats paid Knife Capital and orderTalk in the deal -- were not been disclosed. OrderTalk was founded by Hilton Keats in 1998. Today it is based in Dallas, Texas. Uber's food delivery business Uber Eats has acquired 100% of SA tech company orderTalk Knife Capital invested...

  • Startups need at least 10x in 5 years to be good investment – VC, angel investors

    Want to get investment from an angel or venture capital (VC) investor? You're going to have be able to grow the valuation of your startup by about 50% year on year and return to investors 10 times what they invested in your company -- all in just five years. Most South African based VCs Ventureburn spoke to this month say they look to return to investors 10 times their initial investment and grow the value of an investment at about 30% to 40% per year for about five years. “To achieve 10X in five years you need to be growing at above 50% year...

  • Fourth time lucky for founder of SkillUp as startup nets Knife Capital funding

    Fourth time lucky. That's probably how Matthew Henshall would describe his current startup -- SkillUp. The Cape Town based edtech company has just received an undisclosed amount in funding from venture capital company Knife Capital. While the announcement was made today, neither Henshall -- a former UCT engineering student -- nor Knife Capital disclosed the details of the investment size or the size equity stake the VC company has taken in SkillUp. The latest funding will help the startup to take on new learners and tutors, leverage partnerships with content providers and scale the business internationally. Yet it took three failed tries to land up with an investment-ready startup,...

  • Savca raises concern over governance issues in Section 12J VC tax incentive

    The Southern African Venture Capital and Private Equity Association (Savca) has raised concern that governance issues could emerge in some venture capital companies approved by the SA Revenue Service (Sars) for a tax incentive. The VC tax incentive, set up under Section 12J of the Income Tax Act, allows investors who make investments in approved VCs -- that then invest in qualifying small companies -- a tax deduction. While the incentive came into effect in 2009, the number of VCCs approved under the incentive by Sars shot up in recent years following amendments the Treasury made to the incentive to make it more...

  • DataProphet secures ‘multi-million dollar’ funding from Knife Capital

    Cape Town-based machine learning startup DataProphet has secured a "multi-million dollar" funding round from venture capital firm Knife Capital. Speaking with Ventureburn, DataProphet co-founder and MD Frans Cronje (pictured above) said the startup had been in discussion with Knife Capital about the deal since the second half of last year. He would not disclose the exact amount of the deal. DataProphet employs machine learning to aid companies in developing products and solutions, with a particular focus on the manufacturing sector. Prior to this deal, the startup, which was founded in 2014 by Cronje and Daniel Schwartzkopff, had previously raised funding from private investment...

  • With Zuma gone, investor interest has picked up say local venture capitalists

    Investor interest in placing money in venture capital funds has picked up since the resignation last month of Jacob Zuma as president and the swearing in of Cyril Ramaphosa, say cautious local venture capitalists. Speaking to Ventureburn yesterday, Kalon Venture Partners CEO Clive Butkow (pictured above) said he'd experienced renewed interest from investors since the election in December of Cyril Ramaphosa as ANC president. He noted that a breakfast meeting he held in Johannesburg on 2 February saw about 1000 investors and representatives from family offices attend. “I think had it not been for the Zuma change we wouldn’t have received that interest,” he said. He added that...

  • Tappit Africa: Quicket, Old School Group and UK’s tappit in new joint venture

    Multi-brand sports group Old School Group and events ticketing startup Quicket have teamed up with a UK-based cashless payment solutions provider tappit to form a new joint venture company dubbed tappit Africa. tappit Africa will provide seamless radio-frequency identification (RFID) cashless experiences at festivals, conferences, concerts and sporting events – as well as schools, universities and stadia -- across South Africa and the broader Sub-Saharan region. While the value of the joint venture has not been disclosed, Knife Capital partner Keet van Zyl said a significant investment amount was required to integrate tappit's solutions and establish the local infrastructure to execute large-scale events with RFID...

  • 10 Defining moments that shaped the 2017 South African startup ecosystem

    2017 in South Africa is a very hard year to define… Most people are limping into 2018 battle-scar ridden and trying to figure out what the hell just happened?! Bitcoin highs and Steinhoff lows, neighbouring coup-non-coups, Rugby World Cup hosting woes and Western Cape dam levels scraping the bottom of the barrel along with GuptaBots, while Cyril is rising to the top. 'In 2017 South African entrepreneurs had a bumper year  -- leading the charge with innovation, job creation and growth' But adversity is the mother of invention… South African entrepreneurs had a bumper year  -- leading the charge with innovation, job...

  • Funding your startup: Ventureburn lists the SA investors delivering [2018 update]

    For entrepreneurs wanting to find early-stage funding, this is the article for you. As there is generally a veil of secrecy surrounding funding and startups, there is often smoke and mirrors in the industry, with many claiming to be "investors".  Ventureburn has sifted through the South African landscape and brought you the investors that are putting the money where their mouths are, and investing in the startup industry. Make sure to keep checking back on this article. We will constantly be updating it with new funds as the startup space grows in South Africa. Also, with your comments and suggestions we hope...

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