R150-million early-stage investment for Entrepreneurs

R150-million early-stage investment for Entrepreneurs

Friends of I AM AN ENTREPRENEUR, Mineworkers Investment Company (MIC) has launched MIC Khulisani Ventures, a R150 million early-stage investment vehicle targeting black-owned innovative, high growth businesses in South Africa.

MIC Khulisani will invest in promising cash generative businesses in a variety of sectors. These businesses should provide innovative products or services that disrupt traditional markets, improve efficiencies, or respond to existing problems in South Africa.

Just yesterday, I was reading an article from Forbes on how Black Female-founded companies need funding, not accelerators or incubators. The article further went on saying that venture capitalist and finance communities must address resource gaps and biases that prevent women owned businesses from securing capital.

The MIC venture addresses the same gaps as identified above. It particularly addresses the significant gap in post-revenue investment for businesses that are not plugged into the dominant streams of venture capital networks. This gap in support is even more pronounced for black women-owned and led start-ups.

I’ve always advocated – financial support is necessary for success in high growth economies, and MIC is keen to engage black women-owned businesses for whom these resources are especially scarce. This really really excites me – engagements contributing towards meaningful impact. Gentlemen, don’t worry, we’re not leaving you out in the cold. Male-led businesses also qualify to apply for the venture too.

The projected range for the first round of applications is between R15 million to R30 million per awarded applicant. The venture will help spur growth and expansion in South Africa and beyond.

The application window is open from today, 07 July to 15th August 2021.

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