Naspers today announced that its R1.4-billion venture capital (VC) fund Naspers Foundry, which is aimed at SA startups, has made its first deal, with a R30-million investment in SA startup SweepSouth.
The fund was launched in October last year by Naspers with the aim of investing in the SA technology sector (see this story).
The first deal comes just weeks ahead of an extraordinary general meeting of shareholders that Naspers plans to hold in Cape Town next Friday (28 June). The meeting is to discuss its plans to list its consumer internet business on Amsterdam’s Euronext exchange next month.
SweepSouth, founded in 2014 by Aisha Pandor and Alen Ribic (pictured above, left and right), is an online cleaning services platform that connects clients with domestic cleaners.
Naspers has invested R30m in SweepSouth
Naspers did not disclose what stake in the startup the R30-million is for.
In a statement today SweepSouth co-founder Aisha Pandor said she and Ribic were ecstatic about the Naspers Foundry investment in the startup and added that she believes the partnership will help the startup achieve its vision of expanding into other home services and growing beyond the Click here to read entire article
Source:: Venture Burn