Mpako set up the unit in 2021 and has seen the team build more than 12 companies, many of which have partnerships with Old Mutual.
Vuyo Mpako has left his position as managing director of Next176, the venture building and investment arm of South Africa-headquartered insurer Old Mutual.
Mpako helped found Next176 in 2021. He has overseen strong growth for the unit over the past four years. The team has so far built more than 12 new companies, focusing on addressing financial inclusion and improving access to essential services across Africa.
Companies built by the group include remote health app Kena Health, online job marketplace Jobjack, and no-code insurance claims platform CoverGo, which has a partnership with Old Mutual to streamline its operations across Africa.
Next176, which started with a R300m ($17.5m) commitment from Old Mutual, recently saw its funding increased to R600m.
It is not clear who will take over the managing director position from Mpako, but Tremayne Monaghan, chief ventures officer, is a key contact at the group.
Mpako featured on the GCV Powerlist of 100 leading corporate venture investor earlier this year.
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Maija Palmer
Maija Palmer is editor of Global Venturing and puts together the weekly email newsletter (sign up here for free).
