Conducive Capital, a South African venture capital firm, has announced the launch of a $50 million fund to back early- and growth-stage startups across South Africa and Africa.
Founded by Clive Butkow, former CEO of Kalon Venture Partners, and Mitchan Adams, co-founder of South African fintech company Ozow.
Conducive Capital aims to secure its initial investment of $15 million by July 2024, with a goal of reaching the full $50 million within two years.
The fund will focus on investing in innovative technologies that have already generated revenue and are efficient in their use of capital. These startups should demonstrate strong economics, fit well in the market, and have the potential to expand both locally and globally.
Butkow highlighted the growing need for quality funding to support emerging businesses in South Africa, emphasising the importance of early- and growth-stage capital deployment.
He expressed confidence in Conducive Capital’s ability to connect startups with international networks, mentors, and investors for further funding.
Additionally, Conducive Capital aims to address diversity issues in the investment sector by promoting more representation of women, particularly black women, in venture capitalism. Adams stressed the importance of sharing knowledge and empowering the next generation of venture capitalists.
With the combined expertise of Kalon Venture Partners and Ozow, Conducive Capital plans to offer more than just financial support to startups.
Alongside funding, the firm pledges to provide strategic guidance, operational expertise, and mentorship to help startups become leaders in their respective industries.
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