The Mineworkers Investment Company (MIC), a prominent South African investment firm with a 30-year legacy of fostering community-based economic initiatives, is calling on black-owned businesses to apply for funding through its Khulisani Ventures fund.
According to a 2021 report by Innovation Village, the Johannesburg-based MIC announced the launch of MIC Khulisani Ventures, an early-stage investment vehicle specifically designed to support innovative, high-growth black-owned businesses in South Africa.
Established in 1995 by the Mineworkers Investment Trust (MIT), MIC is a 100 percent black-owned investment company. Its primary mission is to build a sustainable asset base that benefits mine, energy, and construction workers, along with their dependents.
MIC Khulisani Ventures is dedicated to investing in high-potential companies across various sectors, excluding primary agriculture and primary extractive industries. The fund focuses on innovation, targeting products or services that disrupt traditional markets, enhance efficiencies, or creatively address existing challenges in South Africa.
The company has allocated ZAR300 million (approximately US$16.5 million) to support early-stage enterprises that demonstrate scalability, innovation, and robust governance. Applications for funding are open until the end of January 2025, with the disbursement of funds expected to begin by March.
