Cape Town based independent early-stage technology venture capital firm,Â 4Di Capital, thatÂ recently made headlines with the selling of its Motribe shares to Mxit,Â will be receiving an investment fromÂ E. Oppenheimer & Son International of the wealthy South African Oppenheimer family.
The investment, the amount of which has not yet been disclosed, will double the size of 4Di Capital’s Fund 1 that targets startup investment opportunities.
This will enable the company to expand into other new investment opportunities, that have included several in South Africa, as well as ensure the necessary capital to accelerate its portfolio growth.
Rachel Slack, a Director of E. Oppenheimer & Son, said, â€œWe believe that South Africa has exceptional entrepreneurial talent and are excited to join the 4Di Capital family, where we hope we can assist in leveraging the resources available to us in support of young, high-impact entrepreneurs wishing to develop and launch their new innovations onto the global stage.â€
According to founding partner of 4Di Capital and co-founder of the Silicon Cape Initiative,Â Justin Stanford the company are “pleased” to have received the investment from the Oppenheimers which will assist in providing much needed capital to local technology startups in the mobile, enterprise software and web sectors with the growth potential to make their mark in international markets.
Laurence (Laurie) Olivier, US based Senior Partner of 4Di Capital commented, â€œRecent shifts in technology and the global venture capital arena have created opportunities for entrepreneurs in emerging markets to take advantage of an increasingly integrated global technology landscape and lower cost of market entry, especially in the software, mobile and internet sectors.â€
â€œBarriers to entry have dropped significantly and now technological talent anywhere in the world has the potential to flourish if provided with the right enabling environment, capital and support.â€