Former software chief starts fund.

Author:Rosenberg, Anna
Position:AFRICAN BANKER'S WORLD - Brief article
 
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Hasso Plattner, billionaire co-founder of the German software giant SAP, is starting a $42m Africa venture capital fund in conjunction with Germany's MAN Ferrostaal, a global provider of industrial services and key player in alternative energy. Plattner is investing $36.48m of his personal fortune with the remainder being pledged by MAN. Already, Plattner has recruited an impressive team of managers including Malengane Machel, the son of the late Mozambique president, Samora Machel. Graca Machel-Mandela has agreed to become a venture partner. The new fund is specifically designed for African companies working in telecoms, mobile applications, media, software, renewable energy, and...

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