New Venture Capital fund rolls out in South Africa.

A new venture capital fund, dubbed Entrepreneurs for Entrepreneurs Africa (E4E) has rolled out in South Africa.

E4E is a venture capital fund that focuses on supporting black and female entrepreneurs in early-stage ventures.

Also, the venture capital fund will support business models that provide innovative solutions to important sectors of the South African economy, such aa; financial services, sustainable agriculture, healthcare, and potential businesses that can expand beyond the local sector.

Managing Partner at E4E Africa, Philani Sangweni said, “We’re hitting the ground running. We are starting our fund with an R135-million first close and aspire to raise significantly more funds. Before establishing as a fund, we were entrepreneurs, angel investors and many of us mentored early-stage ventures.”

“This means we have a well-developed pipeline in place. As a result, we have approved two investments and expect to be able to close several other investments in the coming months. We have been really impressed with the quality of the entrepreneurs and business that we are seeing,” Sangweni further stated.

The VC fund is backed by a founding investment from the SA SME Fund and is operated by a group of six experienced and innovative entrepreneurs.

These entrepreneurs have attained a reputation for creating successful businesses both locally and internationally.

They also have the knowledge to assist budding entrepreneurs on their journey and provide valuable insight into the world of entrepreneurship.

According to Sangweni, the venture capital fund has been established at a time where the country could benefit from entrepreneurship and business growth economically.

“There are still major business and societal issues that need to be addressed fully in our country, and even more so under the current challenges we face. As a diverse and entrepreneurial team, we believe there is an opportunity here. Historical funding disparity and an immature eco-system represent an opportunity that we would like to turn into value creation for our entrepreneurs and investors, which will ultimately benefit the entire country into the long term,” Sangweni added.

The VC is mobile and can meet clients at their office, coffee shop, take a walk on the mountain, or a paddle in the waves in both Cape Town and Johannesburg.