Mamor Capital Ventures

Mamor Capital Ventures Research

Overview

Mamor Capital Ventures (Mamor Capital) is a black women-owned and managed early-stage growth venture capital firm based at Waterfall City, Midrand, South Africa. The firm was founded in 2017 by Mamokete Ramathe (Founder and CEO) and Fuzlin Levy Hassen (Co-Founder and CFO). Its website describes a team with more than 100 years of combined experience advising boards, financing large transactions, building businesses and managing risk, now applied to early-stage South African technology investing.

Investment Thesis

Mamor invests equity in post-revenue South African technology companies whose products drive digital and financial inclusion and widen access to markets. The stated mission is to back visionary founders who use emerging and sustainable technologies to solve everyday African challenges, and to deliver both commercial returns and measurable societal impact. Return objectives are pursued through technologies that show scalability, customer centricity and sustainability. The firm names three targeted beneficiary groups: SMMEs that are digitalizing, underserved communities with limited reliable internet connectivity, and businesses outside the digital economy whose growth is held back by a lack of connectivity and digital services.

Sector Focus

Four focus sectors are listed on the site: Telecoms Tech (broadband, internet, IoT, 5G); Payments Tech (processing, gateway, security, wallets, POS); Digital Trade (online marketplaces, ecommerce); and Sustainable Tech (energy efficiency, water management, waste management, sustainable farming).

Stage Focus and Check Size

The firm targets post-revenue companies at Seed or pre-Series A, plus growth funding, using equity instruments only. Criteria include a scalable business model, a minimum level of annual recurring revenue (amount not published), and South African-based entities. Stated ticket size is R6 million to R27 million (roughly US$0.35M to US$1.6M at current rates).

Fund Status and Recent Activity

In late August 2026 Mamor announced a R300 million (about US$18.5M) first close of its maiden Fund I, after more than three years of fundraising. The Public Investment Corporation (PIC) anchored the close, with further commitments from the High Impact Seed Fund of Funds managed by the SA SME Fund, the Technology Innovation Agency (TIA) and the Small Enterprise Development and Finance Agency (SEDFA). The fund continues to raise toward a R550 million (about US$34M) target. Capital is now moving from fundraising to deployment, so the firm is at the start of its investment period. No portfolio companies have been announced publicly.

Portfolio

There is no public portfolio page and no announced investments as of October 2026; the fund only reached first close at the end of August 2026. The website's Investments section lists criteria rather than companies.

Team

• Mamokete Ramathe: Founder and CEO, and the public face of the fund.
• Fuzlin Levy Hassen: Co-Founder and Chief Financial Officer.
• Moses Mufunguri: Investment Principal.

The website team section did not render names in the text read; titles above come from the PEI institution profile.

Lead Tendency and Decision Process

The firm is a new fund writing sizable first institutional tickets for its stage and offers strategic guidance, institutional networks, governance support, growth strategy, capital raising expertise and board and leadership experience. Lead tendency is not stated and is treated as unknown. Decision process is a team-based institutional process, with ESG and B-BBEE built into the investment process.

Founder Preferences

Founders must be South African-based entities with real revenue, a scalable model and a clear inclusion or access angle. Pre-revenue startups and non-South African companies are out of mandate. Founders apply through the contact form on the website, which asks for a bit more information to assess mandate fit.

Geographic Focus

South Africa only. Not relevant for non-South African founders, though US-based investors may co-invest or follow on.

Fit Notes for F4

Mamor is a regional impact-oriented fund with a narrow sector and geography mandate. Useful mainly as a South African co-investor or intro target for African fintech, connectivity and marketplace companies.