Cape Town, South Africa-based firm 4Di Capital held a R256m (approx. $17.5m) first closing of a new technology venture capital fund.
The major investor in the fund has been revealed to be Exponential Ventures, the externally focused innovation unit of JSE listed insurance group MMI Holdings.
Led by Justin Stanford, co-founding General Partner, 4Di Capital will made early- and growth-stage investments, focusing principally on scalable technology startups operating in the FinTech, InsurTech and HealthTech verticals, particularly those with ambitions to reach international markets.
The Crunchbase’s profile of the firm lists Stanford, Douglas Cherry, Laurie Olivier, Anton van Vlaanderen and Erik van Vlaanderen as members of the team.