Mineworkers Investment Company (MIC) has committed $10 million to venture capital firm Knife Capital’s new African series B expansion fund, Knife Fund III. The fund’s aim is to invest behind the aggressive expansion of African innovation-driven companies and fill a critical follow-on funding gap.

The commitment positions MIC as anchor investor to the fund alongside other local and international investors. Speaking on the announcement, Nchaupe Khaole, chief investment officer at MIC...