DURBAN - Kingson Capital's Fund Two, a high-growth tech and black-owned SME fund, has been revised to $100 million (R1,453 billion).
The fund was first launched in the first quarter of 2019 at R 400 million ($30 million).
The reason behind increasing this up to $100 million is due to the enthusiastic investment appetite and committed capital from international investors.
Recognising the importance of connecting South African startups to international markets and creating a viable venture capital ecosystem in South Africa, Kingson has been building investor networks into the US, and as a result, has garnered US investment support for its Fund Two.
The anchor to Kingson's Fund Two, Stat Zero and its investors, have committed a multi million-dollar (USD) investment into South Africa to enable Africa to become a global hub for tech innovation.