Futuregrowth Asset Management Launches USD 11 Mn Fund

Futuregrowth Asset Management, a South African manager of R193 billion (USD 11.85 Bn) in fixed-income assets, is launching a fund to invest in startups with a significant developmental impact. According to the company, it intends to raise as much as R600 million (USD 36 Mn) by the end of the year for the Futuregrowth High Growth Development Equity Fund, a closed-end, limited-life fund. The fund’s mandate is expansive, encompassing infrastructure, social services, clean energy, agriculture, and regional development.