Cape Town-based investment company Silvertree Internet Holdings says it has reached the milestone of over $15 million (R200 million) channelled into African consumer-focused technology companies since inception in 2014.
The company also announced it has appointed Freddy Caspers as non-executive chairman of the board.
Silvertree Internet Holdings is an operating and holding company for early and mid-stage tech businesses targeting African consumers. It incubates and invests in ventures, and focuses on execution of simple, proven business models, the company says.
The Silvertree portfolio includes 15 companies providing niche e-commerce, travel and digital services.
According to Silvertree, its portfolio has achieved an average 200% annual revenue growth, helped by companies like car buying site carzar.co.za and meal-kit delivery company ucook.co.za.
Looking forward, Silvertree plans to invest over $10 million (R130 million) in the next 12 months in new and existing portfolio companies that make use of technology to reach consumers, with a focus on growth stage and buy-out opportunities.
The company says it has a unique owner and operator approach with active and large investments, and leverages best practices across its business portfolio as well as support from its global network.
"We want to partner with like-minded entrepreneurs looking to disrupt large and high margin industries in Africa. It is still day one of the Internet in Africa," says founder and MD Peter Allerstorfer.
The firm is actively searching for great entrepreneurial talent to join the team of Silvertree and/or portfolio companies.
Before joining Silvertree as chairman, Caspers drove more than $20 billion of value creation as founding executive board member of Reckitt Benckiser, a global player in the consumer and healthcare industry, serving as CEO of emerging markets for 16 years.
His contribution included step changes in growth following successful launches of brands like Durex, turnaround of loss-making companies, and the successful integration of several large acquisitions, says Silvertree.
He also works in Europe on large-cap deals as senior advisor for EQT, a global private equity firm.
"I have great ambitions for Silvertree - to build it into the most successful Internet technology company across Africa. Similarly to my approach at Reckitt Benckiser, exceptional people with a performance-driven culture and executional excellence will be key to our value creation to transform economic growth across the region," says Caspers.
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