ChipMango, a semiconductor technology company operating across the US, South Africa, Nigeria, Rwanda and Malta, has raised $1.9 million to expand its engineering workforce, commercial design operations and edge-AI technologies.

Atlantica Ventures led the round, with participation from DFS, Kaleo Ventures, Madica, Trilinear Technologies and Malta Ventures.

The company will use the capital to secure new commercial design engagements, grow its AI-native learning and workforce platform, and advance its intelligent sensor and edge-AI products. It also plans to expand operations across the US, Africa and Europe.

Get Featured

Linking Training With Commercial Chip Design

Founded by CEO Ola Fadiran and COO Jovan Andjelich, ChipMango develops semiconductor engineers and deploys them on commercial projects for international customers.

Its services cover chip design, verification, semiconductor intellectual property, edge AI and intelligent hardware. The company’s model links industry-aligned education directly with production work, allowing engineers to apply their training to real semiconductor programmes.

Experience gained through those projects can then contribute to ChipMango’s proprietary semiconductor IP and edge-AI development. The company is effectively combining workforce development with an engineering services business, targeting both the talent shortage and growing demand for specialised chip-design capacity.

Fadiran said software alone will not define the next phase of AI. Progress will also depend on the people capable of designing the chips, systems and intelligent hardware behind it, he said, adding that ChipMango wants to make those capabilities accessible to more regions.

Building Semiconductor Capacity Across Africa

ChipMango works with the University of Pretoria’s Carl Emily Fuchs Institute for Microelectronics in South Africa to connect academic education with commercial engineering practices.

It also operates in Nigeria and is developing initiatives in Kigali, Rwanda, focused on semiconductor expertise, workforce training and AI infrastructure.

In Uganda, ChipMango recently launched a three-month Chip Design Pilot Program with Lwera Electronics and Semiconductors. The programme will train 50 university students and introduce them to the knowledge and practical skills required for semiconductor engineering careers.

Atlantica Ventures founding partner Anikó Szigetvári said the chip industry’s central constraint has shifted from capital to skilled personnel. She said ChipMango is converting Africa’s engineering talent into production-grade design capacity that has already been applied to work for global customers.

Industry Partnerships and European Expansion

ChipMango has joined the Arm Approved Training Partner programme, enabling it to provide official Arm training. It also collaborates with Synopsys and Ohlone College in California to give engineers online access to professional semiconductor design tools.

In Europe, the company plans to establish a design centre in Malta in partnership with Malta Ventures. The facility will extend its engineering presence while supporting commercial semiconductor and AI projects in the region.

Andjelich said the funding provides the foundation for ChipMango’s next growth phase. The company plans to increase its engineering capabilities, deepen its academic and industry partnerships, and enable more engineers to contribute to advanced semiconductor and AI programmes while delivering measurable results for customers.

ChipMango is entering a sector where training alone does not resolve the talent shortage; engineers must also gain experience with commercial tools, workflows and production requirements. By integrating education with paid design work, the company is betting it can shorten that path while building new chip-design capacity across historically underrepresented markets.

Mamor Capital Ventures, a South African-based VC, has taken a significant step forward by raising $18.8 million in the first close of its initial venture fund.

With a focus on addressing funding gaps for post-revenue technology companies in South Africa, the fund aims to target a final close of $34.4 million.

The venture is anchored by the Public Investment Corporation (PIC), which serves as the main investor, signaling confidence in Mamor’s vision to expand opportunities for tech startups showing commercial viability.

South African startups face the challenge of not only demonstrating that they have paying customers but also securing the capital needed for sustainable growth.

This is the gap that Mamor Capital Ventures aims to fill with its inaugural fund. The firm, owned and managed by Black women, supports tech companies that have gone beyond the idea stage and have shown genuine commercial demand.

Mamor Ventures seeks to invest in businesses that, while possibly not yet profitable, still possess paying customers, retention capabilities, a large market potential, and a pathway toward profitability.

Mamokete Ramathe, Founder and CEO of Mamor Capital Ventures, highlighted the firm’s efforts over more than three years to raise this fund amidst caution from institutional investors wary of the risks associated with venture capital.

By focusing on companies with proven market demand, the fund seeks to alleviate some of these perceived risks.

Its investment criteria include ticket sizes ranging from R6 million to R27 million for pre-Series A companies, clearly defining where capital will be deployed.

Developing the South African VC Ecosystem

The Southern African venture capital market is experiencing steady growth, with the 2025 Southern African Venture Capital and Private Equity Association reporting R13.35 billion in active investments by the end of 2024.

Despite this growth, significant challenges remain, particularly around accessing capital for post-revenue startups. The technology sector continues to dominate the regional market, with ICT startups comprising a majority of the deal value.

The financial landscape for South African startups often leaves those in the post-revenue stage in limbo.

Traditional banks view idea-stage startups as risky, while those with paying customers may still lack the necessary size or market presence to secure conventional debt financing. Mamor Capital’s fund acts as a bridge for these early-stage companies, providing essential equity capital needed to scale operations and drive growth.

Get Featured

Mamor Capital is particularly interested in technology enterprises that leverage digital tools to enhance economic activity in South Africa.

This includes ventures focused on expanding financial access, bolstering digital infrastructure, and widening economic participation through innovative digital and financial services.

With $18.8 million already secured, Mamor is set to pivot from fundraising to actively deploying resources, furthering the transformation of South Africa’s venture capital landscape.

Global investment manager Ninety One has reached the final close of its Africa Credit Opportunities Fund 3 after securing $404 million in commitments from institutional investors across several regions.

Backers include development finance institutions, pension funds and family offices from Africa, Europe, the UK, the US and Canada. ACO3 is the third vehicle in Ninety One’s Emerging Market Senior Credit series and continues the firm’s private credit strategy across Africa and other emerging markets.

Ninety One managed $244 billion in assets as of June 30, 2026.

Get Featured

Financing Companies and Infrastructure Projects

ACO3 primarily provides senior secured private loans to established businesses and essential infrastructure projects. Its flexible financing model is designed to help borrowers fund growth while giving investors exposure to private credit opportunities outside developed markets.

The fund has already assembled a diversified portfolio of more than 30 investments across Africa, Latin America, Asia and Central and Eastern Europe.

Its sector exposure includes communications, consumer businesses, financial services, healthcare, industrials and materials. This geographic and sector diversification is intended to balance risk while directing capital toward companies and projects supporting economic activity.

Nathaniel Micklem, Co-Head of Emerging Market Alternative Credit, said the final close reflects continued investor confidence in private credit opportunities across Africa and other emerging markets.

A significant financing gap remains for high-quality companies and infrastructure projects, he explained, creating opportunities for lenders with local origination expertise. Ninety One’s long-standing regional presence and partnerships help it identify resilient investments capable of producing attractive risk-adjusted returns while supporting sustainable economic growth, Micklem added.

Combining Private Credit With Sustainability

ACO3 aims to promote environmental and social characteristics alongside financial returns. Ninety One applies a proprietary sustainability framework to assess potential outcomes for communities, the environment and economic productivity.

Investments in infrastructure and financial inclusion can support longer-term economic development while contributing to efforts to reduce poverty and inequality. The fund’s strategy seeks to combine those outcomes with the supply-and-demand dynamics that make emerging market private credit attractive relative to developed markets.

Ninety One’s local presence and broad sourcing network also give the fund access to investment opportunities that may be less accessible to lenders without established operations in the region.

Building on Three Funds

Ninety One’s Emerging Market Senior Credit strategy has raised $815 million across three funds and deployed more than $1.4 billion, including recycled capital, with over 100 counterparties in more than 30 countries.

The strategy has concentrated on financing market-leading companies and infrastructure projects while targeting attractive returns for investors.

Managing Directors Steven Loubser and Kobina “Kobi” Sam lead ACO3 within Ninety One’s Emerging Market Alternative Credit team. Together, they bring an 18-year track record in managing private and alternative credit funds across emerging markets.

Established in 1991, Ninety One operates as an independent investment manager and is dual-listed in Johannesburg and London.