Good morning,

Today, we look at the venture capital fund Naspers Foundry. It was setup by one of Africa’s wealthiest companies Naspers dedicating $100 Million to early stage tech startups in South Africa 🇿🇦

3 things you need to know:

• There are 23 founders behind 11 South African 🇿🇦 startups funded by Naspers Foundry (between 2019 to September 2022)

• 9 founders went to the University of Cape Town, 5 went to Stellenbosch University, 2 went to Cape Peninsula University of Technology

• Agritech 🌱 startup Aerobotics received the highest investment with $17 Million seed funding

Finance and Engineering

• 73% of founders Naspers VC fund backed had finance and business degrees. While 22% held engineering or technical related degrees

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23 founders backed by Africa’s richest company Naspers VC fund Naspers Foundry

9 founders went to the University of Cape Town, 5 went to Stellenbosch University, 2 went to Cape Peninsula University of Technology, 2 went to University of Pretoria, and 2 went to Stockholm School of Economics in Riga

The top 3 investments included Aerobotics received the highest investment with $17 Million seed funding, Naked Insurance $11 Million, and Valenture Institute received $7 million

73% of founders Naspers VC fund backed had finance and business degrees. While 22% held engineering or technical related degrees

Preamble Dark Mode

23 founders backed by Africa’s richest company Naspers $100 million VC fund Naspers Foundry

9 founders went to the University of Cape Town, 5 went to Stellenbosch University, 2 went to Cape Peninsula University of Technology, 2 went to University of Pretoria, and 2 went to Stockholm School of Economics in Riga

The top 3 investments included Aerobotics received the highest investment with $17 Million seed funding, Naked Insurance $11 Million, and Valenture Institute received $7 million

73% of founders Naspers VC fund backed had finance and business degrees. While 22% held engineering or technical related degrees

Preamble Plus

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