Newtown Partners has agreed to create a US$20 million venture capital fund with Imperial Logistics to identify, invest and nurture disruptive innovative technology startups that present high-growth potential in global supply chain and logistics technology. Newtown Partners was established in 2014 by Vinny Lingham and Llew Claasen. Vinny Lingham is a South African founder of Gyft (acquired by First Data Corporation in 2014 for over $50m), founder of Yola and he is the co-founder of SiliconCape and Civic (identity protection and management startup). Newtown Partners has invested in Field Technologies, Civic, BitGo, Flutterwave, Robinhood and Teachable amongst others.
Imperial Logistics is the largest logistics provider of outsourced, integrated freight management, contract logistics and distributorships in Africa and ranked as the top 30 global logistics providers. The group is listed on the Johannesburg Stock Exchange and employs over 27 000 people in 32 countries in Africa and Europe.