South African black women-owned and managed venture capital firm Mamor Capital Ventures has reached a ZAR300 million (US$18.5 million) first close for its Fund I, allowing it to begin investing in post-revenue South African technology businesses. Mamor Capital invests in scalable South African businesses that use technology to widen access to digital and financial services [...] The post Mamor Capital Ventures secures $18.5m first close to back SA tech startups appeared first on Disrupt Africa .
South African black women-owned and managed venture capital firm Mamor Capital Ventures has reached a ZAR300 million (US$18.5 million) first close for its Fund I, allowing it to begin investing in post-revenue South African technology businesses.
Mamor Capital invests in scalable South African businesses that use technology to widen access to digital and financial services and increase economic participation.
Its ZAR300 million first close, which follows more than three years of fundraising, is anchored by the Public Investment Corporation (PIC), with further commitments from the High Impact Seed Fund of Funds managed by the SA SME Fund, the Technology Innovation Agency (TIA), and the Small Enterprise Development and Finance Agency.
Mamor Capital, which will continue raising towards a target fund size of ZAR550 million (US$34 million), will focus on businesses with strong fundamentals and the potential to deliver measurable economic impact alongside sustainable returns. Its investment mandate includes businesses addressing financial access, digital infrastructure and other barriers to economic participation.
“After more than three years of fundraising, reaching this first close is an important step for Mamor Capital and a strong endorsement from the institutions that have backed our strategy. It gives us the capital to start investing in South African businesses that are using technology to widen economic participation, while remaining focused on delivering competitive returns for our investors,” said Mamokete Ramathe, founder and CEO of Mamor Capital.
PIC acting chief investment officer Leon Smit said the investment supports the PIC’s focus on transformation while providing exposure to the growth potential of South Africa’s venture capital market.
“Mamor Capital brings together an experienced investment team, a clear strategy, and a strong transformation proposition. We see significant potential in South Africa’s venture capital market and believe institutional investors can play a greater role in providing the long-term capital needed to support its development,” he said.
The post Mamor Capital Ventures secures $18.5m first close to back SA tech startups appeared first on Disrupt Africa.
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