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South Africa's Tiger Brands to launch venture capital fund

JOHANNESBURG, May 20 (Reuters) - South Africa’s biggest food producer Tiger Brands will launch a venture capital fund to invest in food and beverage start ups, with initial allocation of less than 100 million rand ($7.09 million), CEO Noel Doyle said on Thursday.

Geographically, the fund, which will be launched in June, will predominately focus on South Africa, “but not exclusively so,” Doyle told analysts after presenting the company’s half-year results. ($1 = 14.0970 rand) (Reporting by Nqobile Dludla; editing by Mfuneko Toyana)

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