Venfin, the venture capital subsidiary of the Rembrandt Group, today announced it`s R25 million investment in eCompany Holdings Ltd. Venfin was established as a dedicated venture capital manager in 1996 by Rembrandt to make equity investments in higher risk, higher return companies which participate in high growth markets with international potential. All Venfin`s investments are independently managed companies and have developed or own intellectual property. Venfin`s strategy is designed to grow and unlock value in its investments together with the other shareholders and management.
Rembrandt recently announced that it would split into two separate listed companies. Venfin will be housed in Rembrandt`s technology orientated investments. Venfin has invested R 130 million in six companies to date and is currently investigating several new opportunities.
The first of these investments is eCompany, a developer and provider of software, infrastructure and business systems that are integrated so as to enable a company to engage in electronic or mobile commerce in targeted markets. These end-to-end `platforms` might include a website, processing technology (including software and infrastructure), data management, fulfilment and financial settlement. The platforms are all targeted at global markets. More specifically, eCompany enables secure credit card payments through the Internet and cellular telephones. It facilitates the electronic trade and settlement of retail investment products such as unit trusts. eCompany automates and manages the risk in sports betting (thereby permitting electronic betting), and it also provides guest houses and small hotels with a room management and on-line real time reservation system. eCompany also embraces a focused incubation strategy in an effort to develop new platforms.
Venfin has also invested in five other companies: Leisureplanet.com Ltd, Inala Technology Investments (Pty) Ltd, Psitek (Pty) Ltd, Fibalogic (Pty) Ltd, and Global Technology Ltd. Venfin holds minority stakes in all these investments, other than Fibalogic where Venfin is the majority shareholder.
Leisureplanet.com, based in Europe, is an international Internet travel services business providing travel reservations, travel guides and other travel services on multi-lingual, localised websites, and has built the leading database of hotel images in the world. Inala is a developer and distributor of niched telecommunications and electronics products and services. Psitek is a developer and supplier of specialised cellular and fixed-line telephony products for both local and international markets. Fibalogic manufactures a patented composite (and therefore non-corrodable) hot water geyser.
The shareholding in listed technology group, Global Technology, arises from an investment Venfin made in a microfinance and banking software business, DBS Consult (Pty) Ltd. This was sold to Global Technology last year.
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