Last year when former FNB head Michael Jordaan joined South African instant messaging service Mxit as chairman, we heard that his new aspirations were to learn more about innovation and investing in startups. Soon after, Jordaan launched his first VC firm, MonteGray Capital. Today, news came about that the first companies getting a cash injection from MonteGrey include interesting tech companies such as Multisource, Bright Black and Execmobile.
Jordaan has mentioned before that he’s interested in “disruptive technologies that will change the world in the next 10 years,” and all three companies mentioned above focus on using disruptive tech to find practical, exciting solutions locally.
Full Story – http://ventureburn.com/2014/01/michael-jordaans-montegrey-capital-makes-first-vc-bets-and-its-all-about-tech/