South Africa's Silvertree Capital to invest $10M in African startups

Silvertree Capital, the investment arm of Cape Town-based Silvertree Internet Holdings (SIH), plans to invest US$10m (about R170m) in consumer-focused Internet start-ups in 2016, it said on Tuesday.

The company, whose business-to-consumer e-commerce investments include Click n Compare, Faithful to Nature, Cyber Cellar, Healthcart and PriceCheck, intends to make the money available to promising start-ups after SIH recorded year-on-year revenue growth of 330% in 2015 to over $10m.

SIH founder and MD Manuel Koser said in a statement that the company would build on its 2015 growth momentum to “cement our dominance in the African e-commerce and price comparison markets”.

Read more: Silvertree to invest $10m in African start-ups | TechCentral