The world-wide trend of increased confidence in VC funding, especially in the technology sector is spilling over to South Africa. With a number of very high profile Tech success stories hitting the headlines in the last months, its great to see that Venture Capital firms in South Africa are not staying behind.

Once of the better known VC firms in SA namely HBD Ventures headed up by Mark Shuttelworth http://www.hbd.co.za/ recently announced that they will be investing in a sport technology firm called EDH.

For details of other VC firms in South Africa, check out my Blog here
http://www.sabusinesshub.co.za/weblog

Full story below, - your comments please!


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Cape Town, October 17, 2006: Unique radar tracking technology developed by a South African company called EDH has become indispensable in the lucrative international sport arena where it is being used widely in tennis, golf and cricket. The company – a great example of local entrepreneurial prowess – will soon extend its offering to a range of other sports, including baseball and soccer, thanks to a recent cash injection of R15 million from HBD Venture Capital, SA’s only true venture capital firm.

Eben van Heerden, Portfolio Manager of HBD, an independent commercial division of the Shuttleworth Group, said that EDH offered a scalable product with global potential which fitted perfectly with its mandate. “The cash injection from HBD will provide the working capital which EDH needs for increased production, marketing and development. Sport, as everyone knows, is big business. It is a passion shared by every country on earth and this is what makes EDH such an exciting investment for us. These are true, passionate entrepreneurs who have found a unique niche in sport globally.â€