Venture capital firm Empowerment Capital on February 1 announced that it hadapproved and placed a total of R162-million into 13 South African start-ups between July 2019 and February 2021, with R32.5-million approved for placement in three new ventures in the coming weeks.
SA's economy may have been ravaged by the pandemic and years of sluggish growth, but small to medium-sized start-ups are still springing up, especially in the technology and fintech sectors. South African venture capital group Empowerment Capital Investment Partners - founded in 2015 by Anton Baumann and Mark Fitzjohn - said its investment companies Andzani Ventures, Imvelo Ventures and Thuthuka Nathi Ventures approved and placed R162m into 13 local start-ups between July 2019 and this month, with a further R32.5m "approved for placement in the coming weeks" in three new companies.
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