Mineworker’s Investment Company (MIC)
The Mineworker’s Investment Company (MIC) is a 100% black owned broad-based investment holding company that was established by the Mineworkers Investment Trust (MIT) to provide ongoing funding for the Trust’s social and educational projects.
With a foundation cemented in South African soil since 1995, MIC invest in companies of all sizes and across various sectors, including financial services, health, leisure, business services, industrials and media. However, our investment does not end there.
MIC Khulisani Ventures
MIC has announced the launched of MIC Khulisani Ventures, an initiative that provides early stage capital for businesses that are ready to aggressively expand and increase their market footprint.
MIC Khulisani Ventures is investing R150 million in black-owned businesses that provide innovative products or services that disrupt traditional markets, improve efficiencies or respond to existing problems in South Africa.
The investment focus is innovative and highly disruptive black-owned South African businesses across diverse high growth sectors.
MIC intends to start filling the gap with a round of investments projected to range between R15 million to R30 million per awarded applicant.
MIC has reported that the feedback so far has been remarkable since the launch, with the following interesting stats:
- 454 applications has been received
- 25% of applications are from Gauteng
- 50 of those businesses are 100% owned by black women!
- 85.7% have a predominantly black directorship
Who Qualifies for Investment?
MIC Khulisani Ventures will be investing into businesses that are established, and ready to expand their market footprint through business development, increased team capacity and continued development of products and services.
Criteria for eligibility includes:
- At least 51% black South African ownership
- Black women owned businesses are encouraged
- Innovative product or service offering
- Disruptive within sector
- High growth potential
- Open to all sectors except fast food, mining, primary agriculture and franchises
- In operation for at least three years
- Minimum investment requirement of R15 million
NB: Businesses that are highly innovative and scalable but may not fully fulfil the criteria above will also be considered.
To learn more, visit their website by clicking here!
Applications for MIC Khulisani Ventures are open from 7th July 2021 to 13th August 2021.
If you fit the criteria and are ready to take your business to the next level:
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