Futuregrowth Asset Management, a South African fixed-income money manager with R193-billion of assets, is raising a fund to invest in start-ups.
The rand tumbled on Thursday to its lowest level since October 2020 as electricity cuts renewed pressure on the currency.
A plan by Tencent’s major backer, Naspers-controlled Prosus, to further cut its stake in the company fuelled concerns among investors on Tuesday.
When there is a deep valuation discount and pressure from its investors, Naspers can’t really time market tops and must appease with cash handouts instead.
Shares of China’s Tencent fell as much as 2.5% after Prosus and Naspers said they would gradually sell shares in the firm.
Prosus and Naspers plan to sell down the massive 28.9% stake Prosus holds in Chinese Internet giant Tencent.
Zendesk, which has a market value of more than $7-billion, is close to a deal with a group of buyout firms, including Permira, sources said.
Vox recently announced that was changing its name to Vivica Group. CEO Jacques du Toit sat down with TechCentral to unpack the thinking behind the move.
Africa’s technology-dominated start-ups will continue to attract investment, even if at a slower pace, following record venture capital funding last year.
Apple’s run as a $3-trillion stock proved fleeting. Now its grip on a $2-trillion market value is looking wobbly, too.