4Di Capital, a South African based venture capital firm, has reached financial close on a US$25-million seed fund from the IBL Group (based in Mauritius). The fund will provide equity funding to start-ups in Southern and East Africa that have the ability to gain traction in the continent or at a more international level. The fund is expected to further expand the venture capital market in specifically Southern Africa where funding had dried up since the Covid-19 pandemic as well as the perceived risks of technology assets in the current difficult economic climate.