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Southern African Intellectual Property Fund secures R104m

The Southern African Intellectual Property Fund, which is managed by Triumph Venture Capital, has secured R104m in capital commitments. The fund is targeting R400m by June next year.

Triumph's aim is to bridge the commercialisation chasm that exists between inventions and innovations in the region.

'Universities are the breeding ground for many potentially viable inventions and innovations,' said Michiel Smit, the chief operating officer of Triumph. 'But academics do not always have the entrepreneurial skills to bring these creations to fruition.'

Investors in the fund include Sanlam Investment Management, which has committed R50m, the Industrial Development Corporation, which has committed R24m, and the CSIR and the University of Pretoria, which have each committed R15m.

The fund will invest in start-up, early and expansion-stage local firms with investments ranging from R3m to 15 per cent of the size of the fund at any one time.

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