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Conducive Capital launches $50m fund to invest in African startups
TLDR
- Conducive Capital launches $50 million fund for South African and African startups
- Fund focuses on disruptive technologies post-revenue with strong unit economics and scalability potential
- Emphasis on promoting diversity and supporting black female venture capitalists
South African venture capital firm Conducive Capital has unveiled a $50 million fund dedicated to supporting early- and growth-stage startups in South Africa and across the continent, aiming to secure its first close in July 2024.
The fund's investment strategy centers on backing disruptive technologies that have reached post-revenue status and demonstrate capital efficiency. Priority is given to startups with robust unit economics, a proven product-market fit, and the potential to scale their operations both domestically and internationally.
In addition to its investment objectives, Conducive Capital is looking to foster diversity within the early and growth-stage investment landscape. The firm also intends to play a role in nurturing the next generation of black female venture capitalists.
Key Takeaways
An increasing number of small- to medium-sized funds with $10 million to $50 million of capital to deploy are targeting opportunities in Africa and other frontier markets. Tofino Capital, Uncovered Fund, LoftyInc Capital, Savannah Fund, and Ventures Platform are some of such Africa-focused firms that have launched in the past year. There is a significant demand for high-quality capital to bolster emerging businesses in South Africa and across the continent. This underscores the importance of deploying early- and growth-stage capital efficiently, necessitating investors who are well-connected within networks capable of facilitating access to international ecosystem players, mentors, as well as local and global investors for subsequent funding rounds.
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