Digital Africa Ventures (DAV) which is a South African venture capital fund which is focused on supporting early-stage Digital Tech start-ups in Africa, has raised R25 million, which will be invested in innovative South African businesses.
According to www.itweb.co.za, The Johannesburg-based fund invests in early-stage South African tech companies, targeting the under-served small business sector, by bridging the funding and support gap for early stage tech entrepreneurs.
The DAV Fund is anchored by the SA SME Fund and is further supported by E-Squared Investments and PAPE Fund Managers, which invested in the recent R25 million funding round.
The site further states that DAV has raised R26.5 million in seed funding for early-stage digital tech start-ups since establishing the VC firm, and are looking to support more entrepreneurs through the latest funding round.
Serving the underserved and representing the underrepresented, the firm’s aim is to bridge the funding and support gap for early stage tech entrepreneurs.
Digital Africa Ventures is managed by Nonkululeko Komanyane, Thandeka Xaba as well as Lebogang Poonyane.
About Nonkululeko Komanyane:
Nonkululeko has extensive knowledge and experience within the acceleration space, coupled with a strong pre-investment acumen. After co-founding the I’M In Accelerator and overseeing investments of R27 million she realised that the seed investments which were made had no additional funding after the accelerator phase. Nonkululeko is passionate about walking the journey with entrepreneurs who demonstrate high growth potential.
After quitting her job as an investment banker, Thandeka founded GlamAlly and contributed to the Allan Gray Orbis Foundation incubation programme. She has witnessed first-hand the catalytic impact that business can have on uplifting communities and would like to continue using entrepreneurship as a force for good through DAV.
Lebogang Poonyane is CEO of Global Capital Empowerment and a Director of Bluesky Investment Holdings. He sits on the boards of Clover, Abeco Tanks, SVR Steelworks and Ukhuni Business Furniture. He worked McKinsey & Company as a Senior Associate serving clients across the African continent, Europe and United States. He focused primarily on Strategy and Private Equity engagements. He holds and MBA from the Gordon Institute of Business Science.
Digital Africa Ventures Fund Managers is a Juristic Representative under PAPE Fund Managers.
Visit https://www.digitalafricaventures.com/ for more information