South African investment firm Newton Partners is combining up with rival Lion Pride to launch a new $37.5 million venture capital (VC) fund.
The new fund, Lion Pride Agility VCC Fund, will invest in both technologies, which is a social impact in South Africa, and in disruptive technology.
The new fund will secure the first 200 million rands ($15 million) by the close of the 2018 to 2019 tax year.
Newton Partners is also seeking new business partners to roll out the fund, which is in the form of a registered VC company.