VENTURES AFRICA – The new chief executive of conservative Stellenbosch investment holding company Remgro, Jannie Durand has disclosed the company’s interests in the technology, with plans to intensify its investments in the sector.
According to Durand, technology has become a bigger portion of the company’s portfolio since its merger in 2009 with unlisted investment company VenFin, where he was the chief executive, investing in technology companies, Fin24 reported.
Recently, Durand told Remgro’s investors that the company’s growth and the attraction it currently enjoys in the market could be attributed to its merger with the technology company, VenFin.
Presently, Remrgo sees technology as an exciting sector, with attractive investment opportunities due to numerous innovations made at a frequency higher than in other sectors.
Speaking about Dark Fibre, one of Durand’s favourite technology infrastructure companies, the CEO said, the company is into the supply of internet bandwidth and laying pipes: “This is something everyone can relate to; many technological things are that simple to understand.”
In addition to several other projects, Remgro has a company (Invenfin) that provides seed capital for new technology companies. Invenfin is currently operating from the ground floor of Remgro’s new office building in Stellenbosch.
“Invenfin is one of my ‘babies’ and there have been some interesting investments. It’s very small but, when something works, it works. The success rate is around one in ten”, Durand quipped.
However, despite his passion for technology, Remgro’s interests that are labeled “technology” are only 3 percent of the company’s total asset value. “I don’t know what difference technology will make to Remgro over the long term, but I hope to see one or two of the projects able to work for Remgro,” he concluded.