The Johannesburg-based investor has been fundraising for more than three years and will now begin deploying capital while continuing to work toward its final target. The R300 million first close represents more than half of the planned fund size.
The Public Investment Corporation (PIC), South Africa’s state-owned asset manager, is the fund’s anchor investor. Other institutional backers include the SA SME Fund’s High Impact Seed Fund of Funds, the Technology Innovation Agency and the Small Enterprise Development and Finance Agency.
Mamor Capital plans to invest primarily in South African technology companies that already generate revenue, have demonstrated commercial demand and have room to scale. The fund will target businesses using technology to expand access to financial and digital services, improve infrastructure and address barriers to broader economic participation.
Investment decisions will take into account the strength of each business, its leadership team and the role Mamor Capital can play through funding and its own expertise. The firm’s founder and CEO, Mamokete Ramathe, said the first close marks the move from an extended fundraising process into active investment.
The fund also incorporates a gender-focused investment approach. Mamor Capital said it aims to increase access to growth capital for founders and entrepreneurs who have been underserved by traditional funding channels while supporting greater representation within South Africa’s investment ecosystem.
Mamor Capital’s team brings experience across venture capital, investment banking, telecommunications, technology and entrepreneurship. The firm expects that background to support its work with the companies it backs.
For the fund’s institutional investors, the vehicle provides exposure to South Africa’s venture capital market while directing capital toward technology businesses at a post-revenue stage. The PIC has also highlighted the role institutional investors can play in providing long-term funding to local venture firms and technology companies.
Mamor Capital will continue fundraising toward the R550 million target as it begins investing from the R300 million secured in the first close.
