Grindstone Ventures Launches $6.5 Million VC Fund for South Africa Tech SME Development
Grindstone Ventures has launched a $6.5m (R100m) fund dedicated to seed funding predominantly South African innovative technology startups who have completed, or are part, of its Grindstone Accelerator programme, which is a growth engineer for participating startups, and acts as an early due-diligence mechanism for the new fund.
The female-led African venture capital fund will focus on post-seed investments, where there is currently a major gap in the South African funding landscape. The fund will invest primarily in early-stage innovation driven and/or technology companies that are female-led.
Grindstone Ventures will target SMEs that have a sustainable impact and are able to create meaningful jobs.