Wipcapital has launched a fund that targets IT and applied technology investments.
The fund, Wip Technology Ventures, is headed by Brian Ranier, who says it follows on the success of the company`s private equity fund.
Wip Technology Ventures gives preference to post revenue businesses with proven track records, with key criteria being the proprietary nature, scalability and global applicability of the concept.
Solid IT service-oriented businesses that require a credible empowerment shareholder and partner are also considered, he adds.
Wipcapital is the financial services subsidiary of women`s empowerment group Wiphold. It offers specialist financial solutions in what it has identified as high activity growth areas, including the public and technology sectors as well as empowerment-mandated transactions.
"The current global slump in interest in technology, which has resulted in valuations of listed companies coming off by as much as 90%, presents a very strong investment case for those with a long-term view, particularly where value can be created over time to maximise returns to coincide with an anticipated cyclical recovery in valuations within the next few years," says Ranier.
The fund will focus initially on investments of between R2 million and R5 million, with larger deals being considered through the support and syndication of other private equity players.
Ranier adds that the industry experience and skill of Wip Technology Venture`s team in IT as well as capital markets, "backed by strong corporate finance facilitation within Wipcapital and strong empowerment profile, positions the fund ideally to significantly grow the value of its investment companies".
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