New fund to help entrepreneurs grow intellectual property
July 24, 2008
By Thabiso Mochiko
Johannesburg - Privately owned investment group VenFin had launched a venture capital fund called InVenFin to support entrepreneurs in developing and growing their intellectual property, the company said yesterday.
Jannie Durand, the chief executive of VenFin and InVenFin chairman, said the firm would consider investment terms that would lead to the corporatisation of the intellectual property. "The investment risk is higher, but so is the potential to earn commensurate returns," said Durand.
InVenFin would have seed capital of R50 million, but this was likely to increase. VenFin was delisted from the JSE more than two years ago, after it was bought out by British cellular company Vodafone.
The new fund is targeting investments spanning product design, biotechnology, information technology as well as telecoms and media.
"InVenFin is interested in profitable opportunities that can succeed internationally," said InVenFin chief executive Brett Commaille, adding that the company was seeking unique intellectual property that was protectable, fully validated, sustainable as well as sellable. VenFin already has interests in areas such as technology, telecoms and media.
It has shares in listed technology firm Dimension Data, Tracker, Fundamo, Psitek, e.tv and Seacom, the undersea cable company that is partly owned by business executives Andile Ngcaba and Cyril Ramaphosa.
The company also has interest in Dark Cable, a fibreoptic cable company, and Sail. VenFin has a presence in China through VisionChina Media, a Nasdaq-listed outdoor advertising company.
Joe Kieser, InVenFin's deputy chairman, said that the company's level of involvement and the partnership the company offered investors set it apart from its peers. "Our appetite for risk is matched by the returns we seek and is backed up by our in-depth analysis and research. We have rich experience in intellectual property, design, corporatisation and business development."
InVenFin's board includes John Newbury, the former chief executive of Nissan Motor; patent and intellectual property attorney Don MacRobert; and design and branding expert Kees Schilperoort.
Kieser said: "InVenFin operates where finance meets innovation meets intellectual capital. "It is uniquely equipped with the right mixture of funding, skills, experience, processes and entrepreneurial spirit, to realise the exciting prospect of supporting world-renowned South African innovation and corporatising South African intellectual property that can compete globally."
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