The fund, set up by Tencent and Naspers' joint instant messaging venture, WeChat South Africa, will invest in Africa-based mobile startups.
WeChat South Africa, a joint-venture owned by China-based internet company Tencent and local media conglomerate Naspers, has announced a R50m ($3.5m) seed fund aimed at mobile startups in Africa, VentureBurn reported yesterday.
WeChat South Africa, the operator of an instant messaging platform, will also help startups hoping to develop products for its service. It is in effect a subsidiary of the China-situated WeChat service owned by Tencent, in which Naspers holds a 34% share.
Consultancy firm Batstone will help WeChat…
