Naspers shuts down Foundry, its $100M fund focused on South African startups

Naspers, Africa’s most valuable tech company by market capitalization, has winded down the operations of its R1.4 billion (≈$100 million) South Africa-focused venture capital fund Naspers Foundry, according to local news outlet BusinessDay.
According to the report, the firm, which is taking this approach as venture capital takes a hit globally, will maintain the investments, including writing follow-on checks, in its nine portfolio companies such as Planet42, SweepSouth, Naked Insurance, Aerobotics, and WhereIsMyTransport. Naspers is aligning its efforts with the approach it adopts internation

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