Silvertree Capital, the investment arm of Cape Town-based Silvertree Internet Holdings (SIH), plans to invest US$10m (about R170m) in consumer-focused Internet start-ups in 2016, it said on Tuesday.
The company, whose business-to-consumer e-commerce investments include Click n Compare, Faithful to Nature, Cyber Cellar, Healthcart and PriceCheck, intends to make the money available to promising start-ups after SIH recorded year-on-year revenue growth of 330% in 2015 to over $10m.
SIH founder and MD Manuel Koser said in a statement that the company would build on its 2015 growth momentum to “cement our dominance in the African e-commerce and price comparison markets”.
SIH said it uses an “owner-operator model, focusing on scaling tech and commerce companies across small, fast-growing niches”.
In 2015, it invested $5m (about R85m at R17/$) in company acquisitions and building businesses.
“Searching for top-tier talent to invest in and work with will be a key focus for the Silvertree team in 2016, starting in South Africa, but with an eye on other emerging markets on the continent, specifically Nigeria and Kenya,” SIH said.
SIH was founded in 2013 and describes itself as an operating and holding company for early and mid-stage technology businesses that target African consumers. Its other investments include Human Value, Kero Downey Africa, We Are Monsters, Sprout and WineCo. — © 2015 NewsCentral Media
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