Last Tuesday, in Johannesburg, South Africa, the launch of the South African venture capital firm Wealth Capital took place in Johannesburg, South Africa. The new entity will invest in start-ups in the early stages and growing in South Africa and across the continent

Capital will raise its first $15 million capital in July and will have 24 months to close its fund of over $50 million. The launch of this entity comes at a time when funding declined in the African technological ecosystem in 2023. The contribution of the new venture capital entities and the closing of Partech's second African fund at over $300 million bode well for the African tech ecosystem