Venture capital company, Knife Capital has raised $10 million for its Series B funding round

Knife Capital, a South African venture capital firm, raised $10million from Mineworkers Investment Company  for its Series B Funding.

The Series B Fund aims to provide substantial risk financing for rapid growth and scaling of companies.

With a view to closing the current funding gap, which is currently prevalent in the business sector in Africa.

Knife Capital is a venture capital investment company.

The company leverages expertise, networks and financing.

In order to accelerates the international expansion of African innovation-driven businesses.

As a result of choosing entrepreneurs with deep expertise, Knife capital ensures investors obtain a strong basis of information from which to scale.

Knife applies funding to take advantage of opportunities for investment firms to close growth gaps and build profitable exit-ready companies.

Because of the company’s diverse partner network, Knife capital aims to virtually tackle challenges in Sub-Saharan African companies.

It will also offers market access and accelerates investor traction.

Knife Capital claims that innovators and entrepreneurs in Africa remain “under-capitalized”.

And with the launch of its Series B Project, is focused on addressing this challenges.

The goal of Knife Fund is to invest in creative African companies and to provide much-needed financing for companies in the field.

Mineworkers Investment Company Chief Investment Officer Nchaupe Khaole states that investing in the fund is crucial to promoting the local economy and SMEs.

See also: Knife Capital Extends Accelerator to Johannesburg

“We gained a lot of respect for the Mineworkers Investment Company team and look forward to the joint learning journey ahead,” said Keet van Zyl, partner at Knife Capital.

The aim of the venture capital fund, Knife Fund III, is to secure 50 million USD to fund companies in Africa.

The company will concentrate on investing in scalable technology businesses with attractive exit opportunities that are investor-ready.

More on Tech Gist

Despite the COVID-19 pandemic, the African Venture Capital company Microtraction records a portfolio boom.

Orange is creating a new venture capital entity with an allocation of €350 Million

Introducing Cortex Venture; Africa’s First Artificial Intelligence Venture Capital Company