The Mineworkers Investment Company (MIC), a South African investment firm with a 30-year history of supporting community-based economic initiatives, is urging black-owned businesses to apply for funding via its Khulisani Ventures fund.
Disrupt Africa reported in 2021 the Johannesburg-based MIC had announced the launch of MIC Khulisani Ventures, an early-stage investment vehicle targeting black-owned innovative, high-growth businesses in South Africa.
MIC is a 100 per cent black-owned investment company established in 1995 by the Mineworkers Investment Trust (MIT) to create a sustainable asset base for the benefit of mine, energy and construction workers and their dependents.
MIC Khulisani Ventures invests in promising high-growth potential companies across all sectors, with the exception of primary agriculture and primary extractive industries. The focus is innovation, namely innovative products or services that disrupt traditional markets, improve efficiencies or respond creatively to existing problems in South Africa.
The company has earmarked ZAR300 million (US$16.5 million) to support early-stage enterprises that exhibit scalability, innovation, and strong governance. Applications are open until the end of January 2025, with funding expected to commence by March.
