South Africa’s biggest food producer Tiger Brands will launch a venture capital fund to invest in food and beverage startups, with an initial allocation of less than R100m, CEO Noel Doyle said.
Geographically, the fund, which will be launched in June, will predominately focus on South Africa, “but not exclusively so,” Doyle told analysts after presenting the company’s half-year results.
The company’s total revenue from continuing operations increased by 8% to R16.4bn for the six months ended 31 March 2021, underpinned by price inflation of 9% and offset slightly by an overall volume decline of 1%.
Tiger Brands owns popular household brands including Koo, Jungle, Beacon and Fatti’s & Moni’s.
