Naspers announced a $100 million Naspers Foundry fund to support South African tech startups.
This is part of a $300 million (1.4 billion rand) commitment by the South African media and investment company to support South Africa’s tech sector overall.
Naspers Foundry will launch in 2019.
The initiatives lend more weight to Naspers’ venture activities in Africa as the company has received greater attention for investments off the continent (namely Europe, India and China).
“Naspers Foundry will help talented and ambitious South African technology entrepreneurs to develop and grow their businesses,” said a company release.
“Technology innovation is transforming the world,” said Naspers chief executive Bob van Dijk.