IFC mulls investment Knife Capital Fund III
The IFC has proposed an equity investment of up to $10 million in the Knife Capital (International) Fund III, not to exceed 20% of the fund’s total capital commitments. The fund is targeted to be a $50 million venture capital fund focused on investments in the scale-up or expansion (series B) stage primarily in South Africa.
Knife III aims to invest in high-growth, innovative technology companies with strong IP and potential for pan-African and global expansion in sectors including: platform businesses, software, tech-enabled business services, and fintech.
The fund manager is Knife Capital (Jersey) Limited. The fund will be managed by Keet van Zyl, Andrea Böhmert, Eben van Heerden, Bob Skinstad, and Davey Gant.
The fund will invest primarily in companies based in South Africa, with a nexus in the rest of Africa and the rest of the world.
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