June 2019
The SA SME Fund, created in 2016 by big business to support entrepreneurs and help established small firms expand, is planning to set up a R150-million university technology fund to support the commercialisation of intellectual property developed at South Africa’s tertiary institutions.
The R1.4-billion fund has already made firm commitments valued at R725-million, with about half of that amount committed to tech-heavy venture-capital prospects and the balance in support of the expansion of small enterprises in traditional business sectors.
As a fund of funds, the SA SME Fund does not invest directly, instead channelling resources to established investment companies specialising in venture capital, growth or impact investing.
Fifty of South Africa’s largest companies have injected R900-million into the fund, while the Public Investment Corporation has contributed R500-million, which it manages on behalf of the Unemployment Insurance Fund.
