Blue Garnet Ventures (Pty) Ltd (“Blue Garnet”) is an Investment Incubator investing behind new, highly scalable Fintech Businesses that leverage one or more products or services from businesses within the Crossfin portfolio.
Investec Limited (“Investec”) are co-invested alongside Crossfin in Blue Garnet
as part of the group’s inaugural foray into the Fintech start up space. Investec
chose to back Blue Garnet thanks to the team’s proven track record and its unique position within Crossfin. Investec’s considerable financial services industry knowledge and network has further entrenched Blue Garnet’s position as South Africa’s foremost Fintech incubator.
Some of the notable assets within the Crossfin portfolio that Blue Garnet companies are able to integrate with and leverage off include; wiGroup with the wiCode platform of over 110 000 integrated POS lanes and ever-growing value processing power
(R8bn in mobile transactions to date) and Innervation’s payment platform, Destiny, with access to over 6 500 retail customers across more than 23 000 retail POS lanes
across 7 African countries. This places Blue Garnet assets in a strategically advantageous position over competitors and helps accelerate start-ups past the PoC stage to break even.
The company’s investment strategy is to incubate promising Fintech, preferably
mobile APP based, businesses beyond proof of concept, to break even and beyond. The natural next step is then to look to partner with or exit to a strategic investor or Crossfin portfolio company which can assist in developing the relevant asset into a stronger more viable going concern, appreciating in value exponentially.