Investment holding company the Mineworkers Investment Company (MIC) has, through its Khulisani Ventures initiative, invested R10-million in crowd farming financial technology (fintech) company Livestock Wealth and has added it to its venture capital programme and further diversified its investment portfolio in the process.
The crowd farming company and its solutions are aimed at enabling everyday citizens to invest in livestock and crop farming through a platform, which will also change farmers’ access to capital, as well as the asset classes that retail and institutional investors can gain exposure to, the MIC says.
“Livestock Wealth’s simple way of helping anyone buy and own real profit-earning assets, while helping farmers grow and maintain assets until ready for market, was the enticement that attracted us to the business.
"They have embraced innovation and understand that creating innovative solutions to problems is the best way to grow,” says MIC impact investment manager Thato Ntseare.
Livestock Wealth was founded in 2015 and has helped thousands of people to invest in tangible, growing assets at a click of a button and has managed assets worth more than R100-million across different product categories, such as cattle-breeding, free-range oxen, organic garden tunnels and macadamia trees, the MIC notes.
Livestock Wealth's partnership with the MIC will go a long way in empowering it in meeting its goals for expansion, including broadening access to markets and leveraging new growth opportunities, says Livestock Wealth CEO Ntuthuko Shezi.
“Farming is one of the oldest pillars of generational wealth. We understand this at Livestock Wealth and created a platform to make investment in farming accessible to anyone, anywhere. This is why we are thrilled about this partnership with Khulisani Ventures.
"The MIC’s investment in our company will allow us to scale our technology offering and prepare for growth beyond South Africa,” he says.
“Inventions and innovations are the engines that power the growth of our economy. Livestock Wealth is one such entity, with innovation at its heart. It is the perfect example of the kind of companies we continue to seek out mutually beneficial partnerships with,” adds MIC CIO Nchaupe Khaole.