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Company Overview
One of only a handful of venture capital companies in this country, Cape Town-based HBD Venture Capital invests in early stage South African companies with high growth potential. It takes a stake in the ventures in which it invests and through board representation, HBD provides strategic direction to ultimately grow the investments to profitable exit. The company was started in 2000 and embodies the pioneering spirit of founder Mark Shuttleworth HBD's name is short for Here Be Dragons - a term used in ancient times to mark unchartered territories on maps.
The company recently launched, HBD Fund2. This fund is focused on early stage ventures and will allow HBD to spend up to R150-million on new ventures over the next two years. Strict criteria dictate that only companies which have been trading for at least six months and have the potential for successful, profitable on-sell within three to five years will be eligible for funding. Investments in HBD Fund2 will be between R10- and R25-million.
HBD's first fund, HBD Fund1, offered seed capital to a range of successful start-ups that include; Red Five Labs - developers of world-first smart phone technology; Mybeat - providers of services and products for mobile communication including mobile dating services and mobile marketing (campaigns and promotions); CSense - developers and distributors of process-based software applications for the mining, chemical, pulp and paper industries. HBD Fund1 has since closed for new investments, but continues to offer marketing and business support with a view to successfully on-selling its ventures within the next two years.
HBD employs a passionate, open-minded and dynamic team which is adventurous and nimble, yet scientific when making its investment decisions. Established relationships with key players in government and industry bodies allow HBD to take an active and leading role in venture capital in South Africa. The company is headed by CEO, Julia Long.
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