Cape Town-based Silvertree Internet Holdings has announced new plans to invest US$10 million into tech startups in Africa over the next 12 months, having made US$15 million worth of investments since launching in 2014.
Disrupt Africa reported in January last year Silvertree said it planned to invest US$10 million across 2016, building on its strong performance in 2015.
Silvertree has now announced new plans to invest US$10 million into new and existing portfolio companies over the next 12 months, with a focus on growth stage and buy-out opportunities.
“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 Peter Allerstorfer, founder and managing director of Silvertree Internet Holdings.
Since launching in 2014, Silvertree says it has made US$15 million in investments into African consumer-focused technology companies. Its portfolio has achieved an average 200 per cent annual revenue growth.
Silvertree also announced the appointment of Freddy Caspers, formerly chief executive officer (CEO) of emerging markets at Reckitt Benckiser (RB), as non-executive chairman of the Board.
“I have great ambitions for Silvertree: to build it into the most successful internet technology company across Africa. Similarly to my approach at RB, exceptional people with a performance driven culture and executional excellence will be key to our value creation to transform economic growth across the region,” Caspers said.