Khula Lula Is The New Micro-Financial VC Fund For Black Women Entrepreneurs In Tech!
Khula Lula Is The New Micro-Financial VC Fund For Black Women Entrepreneurs In Tech! Founder, Milisa Mabinza announces South Africa’s 1st solely black-woman-owned private equity fund for underrepresented tech start-ups.
Khula Lula reveals first beneficiary of it’s angel micro-financing, Native Nylon; fashion e-commerce platform set to launch in November 2020.
According to Olivia Rusch’s 2019 study on Female Entrepreneurship, “only 9% of South African women are involved in early-stage entrepreneurial activity,” this is a statistic that new kid on the private equity funding block, Khula Lula has set their sights on changing.
Founded by University of Johannesburg alum in 2019, Milisa Mabinza carries a BComm Honours in Investment Management. Under her sole leadership, Khula Lula has in its first year committed angel funding to the tune of R200 000 to upcoming fashion e-commerce start-up, Native Nylon.
The birth of Khula Lula in the private equity funding arena is the realisation of Milisa’s goal to not only build a legacy platform inspired by her late father, but an active solution to address the disproportionate capital funding opportunities available to young black women-led start-ups in the tech field.
“It has been important for me to pursue this path because we need more catalysts for change in the venture capital landscape, who are actively prioritizing the funding of black women founders,” said Mabinza.
The company’s initial investment into Portia Dhlamini’s Native Nylon fashion, e-commerce start-up is it’s first and will see the investor and online fashion brand working very closely on an upcoming launch into the online retail market. With Khula Lula, it is not only about providing the necessary funding that young, black founders need but ensuring that these businesses successfully enter into their respective industries and thrive.
