Grindstone Ventures Launches $31.2 Million Fund for African Tech Startups

South Africa’s Grindstone Ventures has launched a R500 million, approximately $31.2 million, venture capital fund targeting technology-driven African companies seeking to move from Seed funding to Series A. Led by Grindstone Ventures CEO Thandiwe Maqetuka, the fund was established in partnership with Knife Capital and Thinkroom. It is targeting an initial close of R150 million and plans to invest in between 15 and 20 companies, with most investments expected to go to South African businesses alo