Grindstone Ventures this week launched a $6.5 million (R100 million) fund dedicated to seed funding predominantly South African innovative technology startups who have completed, or are part, of its Grindstone Accelerator programme, which is a growth engineer for participating startups, and acts as an early due-diligence mechanism for the new fund.

The female-led African venture capital fund will focus on post-seed investments, where there is currently a major gap in the South African ...