Futuregrowth Asset Management, a South African fixed-income money manager with R193-billion of assets, is raising a fund to invest in startups with a strong developmental impact. The company aims to raise as much as 600 million rand for the Futuregrowth High Growth Development Equity Fund -- a closed-ended, limited-life fund -- by the end of the year, according to a statement from Futuregrowth. For the money manager’s Cape Town-based Chief Investment Officer Andrew Canter, South Africa’s second-largest city offers ample opportunities for investment.
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