South African VC announces exit at 'well in excess' of 30% targeted IRR
RapidDeploy – a portfolio company of South African venture capital firm HAVAÍC – has been acquired by Motorola Solutions.
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RapidDeploy – a portfolio company of South African venture capital firm HAVAÍC – has been acquired by Motorola Solutions.
Part of HAVAÍC’s portfolio since 2022, RapidDeploy's African-born technology powers next generation 911 response centres and first responders across the United States.
“As one of the largest tech exits in local history, the deal marks a huge milestone for Africa’s fast-maturing and impactful VC industry. It proves what can be achieved when African-born innovation is supported by smart capital to scale globally and how local tech can solve real-world challenges for customers and communities around the world,” reads a statement by HAVAÍC.
"For HAVAÍC, this exit is not just about strong financial returns. While we are proud to report that the transaction has delivered returns well in excess of our 30% targeted IRR, it reinforces our core mission to identify, invest in, and support high-growth, impact-driven African technology businesses. Together with our unique approach to and proven track record for elevating locally born innovation globally, RapidDeploy’s success is a shining example of our mission and investment strategy in action."
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