Futuregrowth to beef up portfolio of tech start-ups
Asset manager to use R280m through Development Equity Fund for technology investments
Futuregrowth, which recently invested in cleaning start-up SweepSouth, has set aside R280m to invest in technology businesses.
The Covid-19 pandemic has seen the rise in digital adoption across many industries, with expectations that new technology firms are likely to emerge from the crisis. Moreover, existing start-ups may also provide an investment opportunity as the Covid-19 outbreak slams the brakes on cash flow and venture capitalists’ funding. ..