Conducive Capital Unveils $50M Fund for African Startup Ecosystem
Conducive Capital, a South African venture capital firm, has announced the launch of a $50 million fund earmarked for early- and growth-stage startups across South Africa and the broader African continent.
Co-founded by Clive Butkow, the former CEO of Kalon Venture Partners, and Mitchan Adams, co-founder of South African fintech standout Ozow, Conducive Capital is set to secure its initial funding round by July 2024, targeting $15 million, with a ultimate goal of reaching $50 million within a 24-month timeframe.
The fund is poised to invest in disruptive technologies that exhibit post-revenue sustainability and capital efficiency, showcasing strong unit economics and a demonstrated product-market fit, while also possessing the potential for local and global scalability.
Butkow expressed, "There is strong demand for quality capital to support emerging business in South Africa, with the deployment of early- and growth-stage capital, and we are plugged into networks that can open doors to international ecosystem players and mentors, as well as local and global investors for follow-on funding."
In addition to its investment goals, Conducive Capital aims to address diversity concerns within the early- and growth-stage investment landscape and foster the development of the next generation of black female venture capitalists.
Adams stressed, "We need women in this space in particular. And black women – there are not nearly enough. And Clive has been clear from the start: part of our reason for existence is to share knowledge and pass the baton to the next generation."
With Kalon Venture Partners renowned for its disruptive impact in the digital venture capital arena and Ozow making significant strides in the payments industry, Conducive Capital promises a unique blend of business expertise and technological prowess.
Adams elaborated, "It means we bring both business acumen and tech know-how to the equation,” Adams said. “And we go beyond just monetary investments. Alongside funding, Conducive Capital pledges comprehensive support, offering strategic guidance, operational expertise, and mentorship to nurture startups, facilitating their growth into industry frontrunners."
Source: Tom Jackson / Disrupt Africa
