South African VC Firm Looks To Create Tech Unicorns Across Africa With New $50M Fund

Conducive Capital, a newly formed South African venture capital firm, has launched a $50 million fund for early- and growth-stage tech startups across Africa.

Meet The Team

The fund is headed by Clive Butkow and Mitchan Adams. Butkow is the founder and former CEO of Kalon Venture Partner and former COO of Accenture South Africa.

Alongside Adams, the co-founder of Ozow and current CEO of Aions, the two have collectively invested over R300 million, with an internal rate of return of more than 30% over the past seven years. 

Their combined expertise is set to invigorate the African tech landscape significantly.

Conducive Capital’s Fund

Conducive Capital aims to raise $15 million (approximately R300 million) for its first close in July 2024, with a target of reaching $50 million (around R1 billion) within 24 months. 

This move addresses the need for quality capital to propel emerging businesses in South Africa, leveraging networks that connect to international ecosystem players, mentors, and investors for subsequent funding.

“Conductive Capital is not just an investment; it’s a partnership in growth and innovation – and it’s built for transformation,” said Butkow.

“We have identified a number of major industries and technologies that we believe are building the foundation for empowering corporations and individuals in South Africa, and Africa, to create meaningful and sustainable solutions and improve millions of lives.”

A key focus of the fund is to enhance diversity in the investment sector, particularly emphasizing the development of Black women venture capitalists.