Newtown Partners backs Imperial Logistics with a $20 million fund
The South African logistics giant is looking to invest in start-ups that are likely to revolutionise the sector over the next ten years. Several African markets are among the group’s targets.
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▪ Newtown Partners backs Imperial Logistics with a $20 million fund
▪ The South African logistics giant is looking to invest in start-ups that are likely to revolutionise the sector over the next ten years. Several African markets are among the group’s targets.
Newtown Partners, a venture capital firm based in Cape Town, will manage the fund, which will be fully financed by Imperial. According to information obtained by Jeune Afrique Business + for this report, the financing is expected to be from the seed phase to Series B, with investments ranging from $50,000 to $2m. In line with Newtown’s usual investment strategy, these transactions should be phased on average over seven years.
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