(Ecofin Agency) - Newtown Partners, a South African venture capital firm that targets early-stage companies, and Imperial, a logistics company listed on the Johannesburg Stock Exchange and focused on African and European markets, have set up a venture capital fund dedicated to technology companies offering services related to the logistics and transport sectors.

The fund, which will have an initial capital of $20 million, will identify and provide financial and technical support to companies with high growth potential. Both partners expect attractive financial returns generated by their investments.

A January 2019 report entitled “African Venture Capital Report 2019,” published by the tech media Wee Tracker, forecasts that the venture capital market in Africa in 2020 will be driven mainly by companies in the logistics, financial services, and agriculture sectors.

Chamberline Moko