One Thousand & One Voices (1K1V), a South African private equity firm founded by businessman Hendrik Jordaan, has acquired a minority stake worth R200 million ($13.5 million) in Digital Ecosystems (DigiCo), according to a recent report.
DiGiCo is a South African investment holding that provides integrated technology services to the telecommunications sector and various software platforms.
The company’s products enable business-to-business-to-consumer (B2B2C) services for mobile phones and operators. It also facilitates the rapid rollout of mobile-mediated sales, financial services, banking, couponing, gaming, loyalty programs and other payment tender methods.
Jordaan said he believes DiGiCo’s technology is ahead of its time, and the fact it has not been deployed yet in developed economies makes the company fundamentally strong.
What the acquisition means for 1K1V
The acquisition of the minority stake in DiGiCo is 1K1V’s second investment in a technology company this year, and the third technology investment in its portfolio.
Speaking about its investments in technology companies, the firm has stakes in Higher Ed Partners South Africa. The company helps universities expand access to high-quality and affordable higher education through technology-aided learning in Sub-Saharan Africa.
In addition, 1K1V has invested in Pay, a leading payments aggregator that provides an extensive payments platform to more than 7,800 stores and 140,000 traders in South Africa.
Andrew Dunn, CEO of DNI and the majority shareholder in DiGiCo, said 1K1V’s investment in DigiCo is an essential step toward internationalizing its business lines.
“1K1V has globally renowned networks and relationships, an excellent investment track record and strong advisory capabilities so, from a strategic perspective, they bring far more than just capital to the table,” Dunn said.
1K1V is an Africa-focused private equity fund led by experienced professionals with over 125 years of combined investment and financial services experience.
The South Africa-based private equity firm maintains offices in Colorado, the United States and Mauritius, with a long history of commerce in Africa.