South Africa: MIC Khulisani Ventures seeking new investments
The Mineworkers Investment Company has launched the third investment window for MIC Khulisani Ventures.
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The Mineworkers Investment Company (MIC) has launched the third investment window for MIC Khulisani Ventures, a R300 million (about $16.6 million) early-stage investment vehicle.
The third window is open from 18 November 2024 to 31 January 2025, inviting applications from South African businesses that are over 51% black-owned, demonstrate innovation, scalability, and have a strong management team with proven expertise.
MIC Khulisani Ventures focuses on investments ranging from R15 million (about $829,000) to R30 million (about $1.7 million), supporting businesses with potential in sectors such as technology-enabled services, internet connectivity solutions, and cybersecurity. Eligible businesses must have a post-revenue model.
“Through MIC Khulisani Ventures, we are committed to creating pathways for sustainable, socially responsible businesses that can thrive in South Africa’s unique economy,” says Nchaupe Khaole, MIC chief investment officer. “With each funding round, we aim to support businesses that address real-world challenges, driving both economic value and positive social outcomes."
Since its inception in 2021, MIC Khulisani Ventures has invested in several businesses. The first funding window was launched in 2021 and deployed approximately R55 million (about $3 million) in investments. Among its investees is Rentoza, an online electronics and appliances retailer operating on a subscription-based model. The second window of MIC Khulisani, over R80 million ($4.4 million), was deployed to businesses such as Quro Medical, which is disrupting healthcare delivery with its hospital-at-home offering.
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