[pretoria] - $10m to be invested for African start-ups

  |   Pretorianews

JOHANNESBURG – Kingson Capital general partner Ross Jenvey says the venture capital firm is thrilled that US President Donald Trump’s administration has guaranteed $10 million (R144m) towards start-ups to help give them an advantage in scaling the proverbial growth ladder.

The guarantee commitment from the US Department of the Treasury, made through the USAID, will go towards assisting the company’s new R400 million Fund Two to raise funds to be invested primarily in fintech, Internet of Things, insuretech, among other early stage startups.

The investments were aimed at denting the scourge of unemployment in the country and to help sustain one of Africa’s most industrialised and developed economies....

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