HedgeCo.Net — Mamor Capital Ventures said Monday it had reached a R300 million first close on its inaugural Fund 1, giving the black women-owned South African venture firm capital to begin investing in post-revenue technology businesses while it continues raising toward a R550 million target. Bizcommunity dated the print August 31. TechFinancials independently carried the same R300 million first close, the same R550 million target, and the same Public Investment Corporation anchor.
Other commitments came from the High Impact Seed Fund of Funds managed by the SA SME Fund, the Technology Innovation Agency, and the Small Enterprise Development and Finance Agency. Both outlets said the PIC also helped mobilize additional institutional capital into the book. The raise followed more than three years of fundraising.
Mamor’s mandate centers on scalable South African businesses that use technology to widen access to digital and financial services. With the first close secured, the firm said it would begin evaluating opportunities past proof-of-concept that can show commercial demand, while still marketing toward the final target.
This is a first close, not a final close, and the currency is rand. Anyone converting to dollars without a source-stated FX print should leave the R300 million and R550 million figures as stated.