Do they put something in the water at SAP? Something green, like the Americans do with their beer on Saint Patrick’s Day? First there was Shai Agassi going into green energy, now co-founder Hasso Plattner has decided to kick off Hasso Plattner Ventures Africa, a tech VC fund, with industrial service provider MAN Ferrostaal.
The 350 million rand fund – that’s £23 million pounds to you and me – will concentrate on investing in clean technology investments such as renewable energy and energy-saving concepts as well as telecommunications, mobile applications, media and software in South Africa.
Andrea Böhmert will head the fund, and here’s what she said about it:
“In the past SA technology companies have found it almost impossible to get funding from international groups outside of South Africa. All start up businesses know, that it is extremely important not only to get investment funding but also assistance in accessing global markets. This is where our fund can score. Prof. Plattner and MAN Ferrostaal will be able to `open doors´ for start ups that would never be accessible otherwise across the IT industry as well as in the industrial solutions sector.”