Endeavor South Africa has held the final close for its latest venture fund, raising more than double its initial target. Endeavor Harvest Fund II now has a total of R190 million (or approximately $13 million) to invest in startups. The fund, which held its first close last year, has already built a portfolio of ten businesses including some of the more notable startups including Clickatell, Flexclub, Tymebank, and Sendmarc.
Endeavor’s strategy is to co-invest alongside other investors, opening up its global investor network to a pipeline of South Africa-based entrepreneurs. The venture firm helps the entrepreneurs negotiate term sheets and then invests in the deals itself under the terms agreed between the startup and the round’s lead investor.
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