Archway Venture Partners has won an award from the South African First Tuesday Club in conjunction with Cisco Systems which sets out to recognise local Internet and e-commerce players in innovation and excellence.
Archway, which is a venture capital fund with the investor participants being Gensec NSA Equity Fund, SCMB, Dimension Data and the Industrial Development Corporation (IDC), won a Red Award as the best angel investor or venture capital company. Archway is managed by Gensec Bank`s private equity division. Other nominees for the Gold Card Award, sponsored by Acer, were CorpCapital and Viking Investments and Asset Management.
The overall Grand Prix winner was Fundamo, which develops mobile payments architecture and software, and which itself is a company in which Archway has invested. Fundamo won two further category awards - the Rookie of the Year and the Bleeding Edge awards.
The Rookie of the Year award was sponsored by Ananzi and recognised a start-up Internet company launched after January 1, 2000 which has successfully created a new technology, new market or a new way of doing business within the Internet and e-business space.
The Bleeding Edge award recognised a technology innovation, developed by a South African resident or South African registered start-up company which promises to transform the Internet or e-business landscape or which solves a problem created by the Internet or e-business. Microsoft sponsored this award.
Another Archway investee company that won a First Tuesday award category (The Soapbox award sponsored by Oracle online sales) was ITWeb. ITWeb is a leading online news provider, focusing on technology and financial news, and operates a number of Web sites - itweb.co.za, careerweb.co.za, and zafinance.com. It is also involved in Webcasting.
Commenting on the award, Archway general manager Leonard Bruhns said: "It is marvellous for Archway to be recognised for its contribution to fledging IT companies in providing an encouraging environment in which to grow and prosper. Perhaps even more pleasing is the fact that two of the companies in which Archway has invested, have also won awards."
Established three years ago as South Africa`s first venture capital company, Archway Venture Partners focuses exclusively on IT and aims to develop synergistic partnerships (involving both capital and expertise) with high growth IT companies. Archway takes a minority equity stake in the company, but preserves the independence of small to medium-sized companies. It aims for a successful marriage of `the big idea and innovative muscle` while at the same time maintaining a hands-on, operational approach to the company in which it invests.
Other companies receiving First Tuesday awards last night were The African Art Gallery, Streetcar.com, In the bag, Aqua Online, ECNet, CITI - Cape IT Initiative, Digital Planet, Get a Life and Netflorist.
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