New Investments

South African VC Firm Conducive Capital Launches $50 Million Fund to Empower African Startups

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Conducive Capital, a newly formed South African venture capital company, has unveiled a $50 million fund dedicated to fostering innovation across the African continent.

The fund will target early- and growth-stage startups with a focus on disruptive technologies demonstrating strong potential for global scalability.

Led by industry veterans Clive Butkow and Mitchan Adams, Conducive Capital aims to raise its initial $15 million by July 2024, with a final target of $50 million secured within two years.

Butkow, leveraging his experience as the former CEO of Kalon Venture Partners, and Adams, co-founder of the successful South African fintech firm Ozow, bring combined expertise in venture capital and cutting-edge technology to the table.

“There’s a significant demand for quality capital to propel emerging businesses in South Africa,” said Butkow.

“Our network bridges the gap between local startups and international players, mentors, and investors, facilitating access to crucial resources for their long-term success.”

Beyond financial backing, Conducive Capital is committed to promoting diversity within the venture capital landscape.

The firm places a particular emphasis on empowering black women to become the next generation of venture capitalists, addressing a critical underrepresentation in the industry.

“We need more women, particularly black women, in this space,” stated Adams. “Sharing knowledge and fostering the next generation of talent is a core principle for Conducive Capital.”

The combined disruptive influence of Kalon Venture Partners and Ozow’s pioneering spirit in the fintech sector positions Conducive Capital as a strong partner for African startups.

“We offer a unique blend of business acumen and technological expertise,” explained Adams. “Our support extends beyond capital; we provide strategic guidance, operational experience, and mentorship to help startups flourish into industry leaders.”

Conducive Capital’s launch signifies a significant boost for the African startup ecosystem, offering promising ventures the resources and guidance needed to thrive on the global stage.

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