South Africa-based internet company Silvertree Internet Holdings has pledged to invest $10m in online companies through its Silvertree Capital investment subsidiary in order to increase the size of its owner-operator portfolio.
Founded in 2013, Silvertree operates a range of e-commerce platforms that jointly reached some 25 million unique consumers in Africa last year, 50% more than in 2014. It invested $5m in acquisitions and business building in 2015.
Paul Cook, Silvertree’s founder and managing director, said: “Through our operations across the continent, we are seeing first-hand that the African consumer market creates ‘leapfrog’ tech opportunities that our portfolio companies, with their expertise and deep understanding of their markets, are poised to capitalise on and grow.
“Silvertree-owned companies are without a doubt best placed to service and grow the millions of African consumers who are migrating to online platforms, looking to source the most competitive prices for goods and services.”