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Lack of funding by historically disadvantaged persons, mostly black, in SA is due to exclusion from business networks, scarcity of wealth and asset accumulation
Futuregrowth joins investors such as Naspers in backing startups.
Futuregrowth is raising a R600 million fund to invest in local startups
Futuregrowth Asset Management, a South African fixed-income money manager with R193-billion of assets, is raising a fund to invest in start-ups.
Naspers Foundry has invested R700m in 12 businesses since 2019. It hints that more investments are on the way.