An undisclosed raise from the Mauritius-based conglomerate IBL Group through its investment vehicle, IBL Link Investments Ltd., has enabled 4Di Capital, a South African early-stage venture capital firm, to announce the second closing of its new $25 million seed fund. The fund was established in partnership with DotExe Ventures in Mauritius. An initial closure of $8 million has been reached by the SA SME Fund, which will provide funding for early- and later-stage businesses in South Africa, East Africa, and throughout the African continent.
Prioritizing companies with regional or global aspirations, the fund will accept new investors up until its ultimate closing in early 2023. Partner at 4Di Capital Justin Stanford stated, "We look forward to working hand in hand with our new partners." 4Di Capital has spent the last 13 years honing its investment approach and growing its influence outside South Africa into the East African market and beyond.
Since its inception in 2009, 4Di Capital has grown to become one of Africa's most prominent venture capital firms. Each portfolio company benefits from the firm's first-hand knowledge of how to expand and flourish in Africa's startup scene.
Aerobotics, LifeQ, VALR, and Nairobi-based Wasoko are just some of the portfolio firms that have subsequently obtained substantial late-stage financing.
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