IFC, a member of the World Bank Group, invested $10 million in Knife Fund III, a new fund managed by South African venture capital firm Knife Capital.

  • The investment will provide financial support to tech startups in high-growth sectors in South Africa with strong potential for expansion across Africa and internationally, including enterprise technology, software, health-tech, and fintech.
  • Knife Capital plans to raise $50 million for its Fund III, which will primarily target investments at the Series B stage.
  • Fund III follows Knife Fund II, which was launched in 2016, and Fund I, which was launched in 2010.