The Mineworkers Investment Company (MIC) has launched the third round of its MIC Khulisani Ventures, a R300 million early-stage investment initiative. Photo: File
The Mineworkers Investment Company (MIC) has launched the third round of its MIC Khulisani Ventures, a R300 million early-stage investment initiative aimed at empowering black-owned, innovative and high-growth businesses in South Africa.
Applications are open from November 18 to January 31, 2025.
MIC said on Tuesday that this funding window continues MIC’s commitment to fostering economic transformation by supporting businesses with more than 51% black ownership, strong management teams and scalable, innovative solutions. The focus sectors include technology-enabled services, internet connectivity, and cybersecurity. Investment amounts will range from R15m to R30m.
“Through MIC Khulisani Ventures, we are committed to creating pathways for sustainable, socially responsible businesses that can thrive in South Africa’s unique economy,” said MIC chief investment officer, Nchaupe Khaole.
The venture prioritises post-revenue businesses with the potential to create significant social and economic value, especially those targeting underserved markets.
Since its inception in 2021, MIC Khulisani Ventures has supported impactful businesses in sectors such as healthtech and fintech. Past investments include Rentoza, a subscription-based electronics retailer, and Quro Medical, whose Hospital at Home program transforms healthcare delivery.
The first two funding windows collectively deployed around R145m, attracting over 2500 applications, 34.4% of which came from women-owned businesses. MIC Khulisani said it continues to encourage applications from businesses that demonstrate the potential to disrupt markets and drive societal impact.
Interested entrepreneurs can apply via the platform at khulisani.mic.co.za.
BUSINESS REPORT