TL;DR
- Applications are open until January 2025 for the $16.5M Khulisani Ventures fund, targeting innovative, black-owned businesses in South Africa.
- Eligible businesses must show scalability, strong governance, and offer solutions that disrupt markets or address local challenges.
- The fund excludes investments in primary agriculture, extractive industries, and certain other sectors.
- Funding begins in March 2025, aiming to foster economic empowerment and tackle inequality in South Africa.
Applications are now open for the $16.5 million Khulisani Ventures fund, an early-stage investment initiative by the Mineworkers Investment Company (MIC).
This fund supports black-owned businesses in South Africa that showcase innovation, scalability, and strong governance.
Entrepreneurs have until the end of January 2025 to submit their applications, with funding set to commence in March 2025.
About MIC and Khulisani Ventures
MIC is a 100% black-owned investment company founded in 1995 by the Mineworkers Investment Trust (MIT).
Its mission is to create a sustainable asset base benefiting mine, energy, and construction workers, along with their dependents.
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Launched in 2021, Khulisani Ventures is MIC’s early-stage investment vehicle targeting black-owned, high-growth businesses across various sectors, excluding primary agriculture and primary extractive industries.
Eligibility Criteria
To qualify for the Khulisani Ventures fund, your business should meet the following criteria:
- At least 51% black South African ownership and management.
- Innovative product or service offering that disrupts traditional markets, improves efficiencies, or addresses existing problems in South Africa.
- Scalable business model with high growth potential.
- Post-revenue with positive cash flow.
- Strong financial reporting and compliance with industry regulations.
- Robust corporate governance and leadership.
Black women-owned businesses are particularly encouraged to apply. The fund does not invest in fast food franchises, seed-stage investments, primary agriculture, or businesses historically dependent on grants.
Application Process and Timeline
Interested businesses can apply directly through the MIC Khulisani Ventures website.
Be prepared to submit detailed business plans, highlight your innovative solutions and market potential, and demonstrate how your venture aligns with the Khulisani Ventures mandate.
Applications are open until the end of January 2025, with funding expected to commence by March 2025.
Impact on South Africa’s Economic Landscape
By investing in black-owned businesses, Khulisani Ventures seeks to address systemic economic challenges in South Africa, such as high unemployment and wealth inequality.
The fund aims to promote inclusive growth and economic empowerment, fostering a more equitable economy.
The Khulisani Ventures fund represents a substantial opportunity for black-owned businesses in South Africa to access capital and drive transformational growth.
As the application deadline approaches, you are encouraged to take advantage of this chance to scale your innovations and contribute to South Africa’s economic future.
