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Home Funding

Futuregrowth, a South African venture capital firm, has announced the launch of a growth development fund

Tech Gist Africa by Tech Gist Africa
07/11/2022
in Funding, News - South Africa, Venture Capital
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Futuregrowth, a South African venture capital firm, has announced plans to launch its Futuregrowth High Growth Development Equity Fund (HGDEF), which would focus on making investments in startups with a high developmental impact. 

With more than 50 fund products, more than 25 years of experience, and more than 100 employees, Futuregrowth is a top developmental investor and the eighth largest asset management company in South Africa. 

Amrish Narrandes, head of private equity and venture capital at Futuregrowth, stated, “Through the DEF, we have been investing in early-stage equity deals for over nine years. 

“The new Futuregrowth High Growth Development Equity Fund seeks to aid South African businesspeople that push the envelope with ground-breaking innovations that transform our way of life. We think that by investing in South African companies, we can contribute to the creation of jobs and the expansion of our economy. 

The fund will coexist with the Futuregrowth Development Equities Fund (DEF), which has a 16-year history of making investments in unlisted developmental equity. 

The time is right for a risk-seeking offering, according to Andrew Canter, Chief investment officer of Futuregrowth. “We have been considering an early-stage equity fund for several years, watching the evolution of the South African market, considering South Africa’s strategic position for disruptive enterprises, and investing in several high-growth equity transactions. 

A variety of impact sectors, including infrastructure, social services, clean energy, agriculture, regional development, and more, are covered by Futuregrowth’s suite of developmental investment funds, which includes the Futuregrowth HGDEF.

 

Read more on Tech Gist Africa:

Moove, a Nigerian mobility fintech startup, has raised $20 million in funding from British International Investment

Kukua, a Kenyan educational entertainment startup, has raised $6 million in funding

MNT-Halan, the Egyptian fintech super app, has closed a $150 million securitized bond offering. 

 

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