Lucid Ignite Fund is a Cape Town based, entrepreneur-driven, Section 12J, venture capital company.
Our mandate is to build a diversified portfolio of scalable tech-enabled businesses in South Africa. We are focused on opportunities in South Africa, USA, UK and Germany.
The fund is a collaboration between Lucid Ventures and two of South Africa's most dynamic tech-entrepreneurs who have built and exited profitable ventures in South Africa's tech-ecosystem. The team have developed deep networks in the industry and they are experts in determining key drivers of value.
Justin is an accomplished South African entrepreneur and angel investor. He is the CEO and co-founder of Parcelninja – a cloud based warehousing and delivery service company. He also co-founded WantItAll.co.za – the second largest webstore in South Africa. Justin was an angel investor in Superbalist where he guided the company to exit when Takealot acquired a 100% stake in 2014. Justin won the EO Entrepreneur of the year award in 2010. He has consulted to the largest e-commerce players in SA and is regarded as one of the most knowledgeable minds in e-commerce.
Yossi is a passionate entrepreneur and investor who has over 15 years of experience in starting, building and scaling technology based businesses. Yossi founded his first company at the age of 17 and later went on to co-found SYNAQ – the largest provider of open source cloud email services in Sub-Saharan Africa (acquired by Dimension Data). Yossi is also the co-founder of WeThinkCode_ – a Johannesburg based non-profit coding school and he is the Managing Director of Techstars Africa where he has driven investments into 20 tech companies to date. He holds an MBA from the Gordon Institute of Business Science where he graduated cum laude.
Gidon is the founder of Lucid Ventures. He is also well known as the founder of kulula.com. He spent twelve years in the tough airline industry, where he innovated and redefined the airline space. He also launched the SLOW Lounge Concept. After leaving the airline industry he spent three years at Discovery as the CEO of Vitality and Head of Digital. He is a qualified CA(SA) and has an MBA from Kellogg School of Management.
Exceptional teams driven by focused and ambitious founders
ICT and Technology-enabled business
Scalable business model operating in a sizeable market
We participate during seed rounds and series A rounds
Investments up to R5 million
SECTION 12J COMPLIANCE
We invest in unlisted qualifying companies. See our S12J guide for more detail
Viable exit strategies will be identified upfront