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NEXT176

NEXT176 is the corporate venture building and investment arm of Old Mutual, based in Johannesburg, South Africa. It focuses on creating sustainable businesses and investing in high-impact sectors to positively influence emerging economies.

Founded
2021
Recorded stages
Seed, Series A, Series B, Growth Equity
Focus sectors
Fintech, Edtech, Hrtech
Recorded regions
Africa

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Overview

NEXT176, founded in 2021, operates as the corporate venture building and investment arm of Old Mutual, one of Africa's largest insurance and financial services groups. The firm is dedicated to creating sustainable businesses that aim to positively impact one billion lives in emerging economies. With a dual operational model, NEXT176 builds new companies from scratch while also investing in external startups, focusing on sectors such as health, education, and environmental sustainability. The firm has built or backed nearly 20 startups since its inception, including Kena Health and Jobjack, and is recognized as a key player in South Africa's startup ecosystem.

Focus

NEXT176 invests in and builds ventures across six priority ecosystems: Health, Education, Jobs, Income Protection, Environmental Sustainability, and Debt Management. The organization also engages in strategic partnerships across key industry verticals such as Financial Services, Telecommunications, Automotive & Technology, and Retail, aiming to deliver tailored solutions and enhance customer protection.

Support

NEXT176 provides value to its portfolio companies through strategic partnerships, access to Old Mutual's extensive resources, and a dual operational model that combines venture building with investment. This approach allows for the creation of first-party intellectual property and early access to external innovations, fostering financial inclusion and sustainable growth.

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