In a major boost to South Africa’s start-up technology sector, the SA SME Fund, the DSI, TIA, and impact investor E Squared have launched a R300 million Seed Fund of Funds aimed at providing critical early-stage capital to startups. The agreement was signed on Monday,30 September in Hyde Park Johannesburg.
This initiative aims to fund at least 50 technology-driven startups through experienced fund managers, with a focus on innovation and transformation in South Africa.
TIA has been pivotal in driving this initiative. The fund addresses a key gap in South Africa’s venture capital ecosystem, where later-stage investments, such as Series A and Series B, have historically attracted more funding.
This investment marks a significant milestone in strengthening South Africa’s venture capital landscape. As the fund prepares to allocate capital to at least five skilled fund managers, it is expected to drive the success of dozens of technology startups and empower entrepreneurs over the next few years.
