# Industrial Development Corporation

> Industrial Development Corporation is a VC fund backing Renewable Energy. See 23 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Sandown, South Africa
- Total investments: 23
- Last investment: May 2026
- Lead investor: 61%
- Last fund: Mar 2021
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/idc-sa/
- X (Twitter): https://twitter.com/IDCSouthAfrica
- Website: http://www.idc.co.za
- Facebook: https://www.facebook.com/IDCSouthAfrica/

Industrial Development Corporation is a financial institution that fosters commercially-sustainable industrial development in Africa.

## Contacts

5 contacts available for Industrial Development Corporation. Shizune tracks 5 team members at Industrial Development Corporation. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/industrial-development-corporation?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $6M–$26M |
| Post-IPO Debt | $11M–$49M |
| Debt Financing | $30M–$509M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Renewable Energy | 5 | 22% |
| Mining | 3 | 13% |
| Mobile | 3 | 13% |
| Software | 3 | 13% |
| Sustainability | 3 | 13% |

42 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Debt Financing | 5 | 22% |
| Post-IPO Debt | 4 | 17% |
| Series A | 3 | 13% |
| Pre-Seed | 2 | 9% |
| Series B | 1 | 4% |

10 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| South Africa | 7 | 30% |
| Australia | 3 | 13% |
| Luxembourg | 2 | 9% |
| Canada | 1 | 4% |
| Sweden | 1 | 4% |

9 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Ashley Petersen | Senior Business Development Manager | 0 | https://shizune.co/investors/profile/ashley-petersen |
| Geoffrey Qhena | CEO | 0 | https://shizune.co/investors/profile/geoffrey-qhena-a98e |
| Joanne Bate | Chief Operations Officer | 1 | https://shizune.co/investors/profile/joanne-bate-23f2 |
| Prithviraj Dass | Venture Capitalist & Senior Dealmaker | 0 | https://shizune.co/investors/profile/prithviraj-dass |
| TP Nchocho | Chief Executive Officer | 0 | https://shizune.co/investors/profile/tp-nchocho |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| AMEA Power | AMEA Power develops, owns, and operates utility-scale solar and battery energy storage projects across Africa, the Middle East, and Asia. The company constructs photovoltaic plants and hybrid systems and negotiates long-term power purchase agreements to supply clean electricity. Its portfolio includes operational, under-construction, and plannedprojects ranging from 24 MW solar farms in Uganda to 500 MW solar plants in Egypt, often integrating battery storage to enhance grid stability. AMEA Power also partners with governments and industry to secure financing and concessions for its energy developments, contributing to regional infrastructure expansion in renewable power. | $8M |  | May 20, 2026 |  |
| Fedgroup | Fedgroup is an independent investment and insurance company investing in smart technology and provides employee benefits and investment plans. Their in-house administration systems respond to their clients needs efficiently and effectively that drives down the cost of their products. The company's investment is backed up by participation bondsthat make it secure. Through their finance structure, the company facilitates the ownership of commercial property for business owners or investors who wish to diversify their portfolios.Fedgroup was founded in 1990 and is headquartered in Johannesburg, South Africa. | $30M | Debt Financing | May 18, 2026 |  |
| Minbos Resources | Minbos has to build a nutrient supply and distribution business that stimulates agricultural production and promotes food security. They provide nutrient supply and distribution business that stimulates agricultural production and promotes food security. | $16M | Post-IPO Debt | Mar 02, 2026 |  |
| Frontier Rare Earths | Frontier Rare Earths is a mineral exploration and development company that specializes in the development of rare earth elements. | $20M | Private Equity | Feb 05, 2026 |  |
| Ann-Connect | Ann-Connect is an EdTech SaaS for learning, teaching, exams and assessments rolled into an all-in-one education platform.Founded in 2021 by Bonginkosi Mabaso, Nexa was born from a real problem: students missing exams and learning opportunities because of unreliable internet. Our mission is simple: make online education accessible to everystudent, regardless of connectivity or background. Today, Nexa is trusted by universities, training institutions, and professional bodies across South Africa, with partnerships that give access to more than 450,000 learners. One workspace. All your education tools: - Nexa ExamCore: Offline exam tool where students can access, write, and submit online exams even without internet. - Nexa Invigilator: Invigilation tool designed to monitor for online exams. - Nexa Invigilator Venue-based – Proctoring for physical/venue-based exams for schools, corporates & teams. - Nexa Room – Low-bandwidth video conferencing just like MS Teams but designed for teaching and learning, with AI-driven student engagement tracking. - Integrations – Seamless connection with Learning Management Systems (LMS), plagiarism checkers, and other education tools — all in one place. Recognised with awards from TIA, ABSA, and the Royal Academy of Engineering (UK), Nexa is shaping the future of global education by making it inclusive, resilient, and accessible everywhere. Ready to experience THE platform for inclusive learning? Visit ann-connect.com and join us in building education without limits. | $50K | Pre-Seed | Aug 28, 2025 |  |
| Theta Gold Mines | Theta Gold Mines is an Australian Securities Exchange listed company. Through it’s controlling subsidiaries in the Republic of South Africa, TGM currently controls 62,000 hectares of gold Mining and Prospecting Rights which covers the majority of the Transvaal gold fields approximately 350km East of Johannesburg. The Project is named TGME GoldProject which currently has 5.8Moz of a combination of underground/open-cut gold resources. | $35M | Post-IPO Debt | Jun 10, 2025 |  |
| West Wits Mining | WWI is embarking on a strategic transformation to be the only ASX-listed gold producer with operations in the Witwatersrand Basin and Pilbara (Mt Cecelia & Tambina). West Wits was originally formed to explore, evaluate and extract gold and uranium from project areas located on the Central Rand Goldfield of South Africa’s Witwatersrand Basin. | $49M | Post-IPO Debt | Jun 01, 2025 |  |
| Pele Energy Group | Pele Energy Group owns and runs renewable energy infrastructure in addition to providing economic and community development consulting services. | $31M | Venture - Series Unknown | Mar 04, 2025 |  |
| AMEA Power | AMEA Power develops, owns, and operates utility-scale solar and battery energy storage projects across Africa, the Middle East, and Asia. The company constructs photovoltaic plants and hybrid systems and negotiates long-term power purchase agreements to supply clean electricity. Its portfolio includes operational, under-construction, and plannedprojects ranging from 24 MW solar farms in Uganda to 500 MW solar plants in Egypt, often integrating battery storage to enhance grid stability. AMEA Power also partners with governments and industry to secure financing and concessions for its energy developments, contributing to regional infrastructure expansion in renewable power. | $8M |  | Jun 06, 2024 |  |
| AMEA Power | AMEA Power develops, owns, and operates utility-scale solar and battery energy storage projects across Africa, the Middle East, and Asia. The company constructs photovoltaic plants and hybrid systems and negotiates long-term power purchase agreements to supply clean electricity. Its portfolio includes operational, under-construction, and plannedprojects ranging from 24 MW solar farms in Uganda to 500 MW solar plants in Egypt, often integrating battery storage to enhance grid stability. AMEA Power also partners with governments and industry to secure financing and concessions for its energy developments, contributing to regional infrastructure expansion in renewable power. | $8M |  | Jun 06, 2024 |  |

10 of 23 investments shown.

## Co-investors
- [Nedbank](https://shizune.co/investors/profile/nedbank1) — VC Fund, 3 deals together
- [Norfund](https://shizune.co/investors/profile/norfunds) — VC Fund, 3 deals together
- [Knife Capital](https://shizune.co/investors/profile/knife-capital) — VC Fund, 2 deals together
- [Absa group (Bank)](https://shizune.co/investors/profile/absa-bank) — VC Fund, 1 deal together
- [African Export-Import Bank](https://shizune.co/investors/profile/african-export-import-bank) — VC Fund, 1 deal together
- [Absa Bank Kenya](https://shizune.co/investors/profile/barclays-bank-kenya) — VC Fund, 1 deal together

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## FAQ

### What does Industrial Development Corporation invest in?

Industrial Development Corporation invests primarily in Renewable Energy, Mining and Mobile startups, most often at Debt Financing and Post-IPO Debt stage. Most of the 23 investments tracked by Shizune back companies in South Africa. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Industrial Development Corporation's check size?

Industrial Development Corporation typically joins rounds of $6M–$26M at Series A, $11M–$49M at Post-IPO Debt and $30M–$509M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Industrial Development Corporation participates in.

### How do I contact Industrial Development Corporation?

Public channels for Industrial Development Corporation include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Industrial Development Corporation?

The team at Industrial Development Corporation includes Ashley Petersen (Senior Business Development Manager), Geoffrey Qhena (CEO) and Joanne Bate (Chief Operations Officer). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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