Mamor Capital Secures R300m First Close to Back South African Tech Businesses
Mamor Capital Secures R300m First Close to Back South African Tech Businesses. South African venture capital firm Mamor Capital Ventures has secured R300 million at the first close of its inaugural fund, allowing the firm to begin investing in post-revenue technology businesses while continuing to raise capital towards its R550 million target.
The first close follows more than three years of fundraising and is anchored by the Public Investment Corporation (PIC). Other commitments come from the High Impact Seed Fund of Funds, managed by the SA SME Fund, the Technology Innovation Agency and the Small Enterprise Development and Finance Agency.
The PIC also contributed to attracting additional institutional investment to the fund.
Mamor Capital moves from fundraising to deployment
Mamor Capital is a Black women-owned and managed venture capital firm focused on scalable South African businesses using technology to expand access to digital and financial services and increase economic participation.
Following the R300 million first close, the firm will begin deploying capital into businesses that have progressed beyond the proof-of-concept stage and can demonstrate commercial demand.
Mamokete Ramathe, founder and CEO of Mamor Capital, said reaching the first close represents an important milestone after more than three years of fundraising.
She said the backing from the participating institutions provides support for the firm’s investment strategy as it moves into the deployment phase.
Focus on businesses with proven demand
The fund will target businesses with established commercial fundamentals and the potential to deliver measurable economic impact alongside sustainable returns.
Its investment mandate includes companies operating in areas such as financial access and digital infrastructure, as well as businesses addressing barriers to economic participation.
Fuzlin Levy-Hassen, co-founder and CFO of Mamor Capital, said the firm is seeking businesses that have progressed beyond proving an initial idea and can demonstrate real commercial demand.
Investment decisions will consider factors including the strength of the business, its management team and whether Mamor Capital’s capital and expertise can help the company achieve sustainable scale.
Fundraising continues towards R550m target
Ketso Gordhan, CEO of the SA SME Fund, said the investment would contribute to increasing the pool of specialist capital available to South African technology businesses.
Mamor Capital’s leadership team brings experience across investment banking, venture capital, telecommunications, technology and entrepreneurship.
Alongside its commercial investment mandate, the firm said it aims to contribute to a more representative investment ecosystem through a gender lens and increased access to growth capital for underrepresented founders.
With R300 million secured at first close, Mamor Capital will now assess investment opportunities while continuing its fundraising efforts towards the R550 million target.
