The South African startup was originally known as Grotech. The company decided to rebrand itself to Kalon Ventures Partners and plans to open a capital raising round of investors while continuing Grotech’s goal of investing in startups.
Grotech closed its accounts last year with about ZAR 62 million even though it had a target of ZAR 200 million. The Kalon fund plans on continuing from where Grotech left off.
Clive Butkow, chief executive officer of Kalon Venture Partners, explains that the “Kalon board decided to rebrand to better reflect the vision of being the pre-eminent digital technology venture capital company in Africa by investing in and growing entrepreneurs who solve African and global problems.”
Both venture capital companies, such as Kalon Venture Partners, and the South African government wish to further fuel the economy by promoting the investments made into small and medium sized startups. This process will also grant investors tax benefits as incentive.
The tax payments will be granted this August through September as per the laws of Section 12J. Kalon Venture Partners as well as other venture capital companies are all attempting to take advantage of these laws before the deadline hits.
All business taxpayers throughout South Africa should be excited to jump on the opportunity to reduce their taxes by taking advantage of Section 12J benefits as explained by Clive Butkow.
New investors will be able to hop on board with Kalon Venture Partners soon. The company has set their new target goal of ZAR250 million with high ambitions.