Condia Insider: 5x returns for this VC firm
Bendada.com | Jesutofunmi - Jun 11, 2025
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  • Silverbacks Holdings partially sold its stake in OmniRetail for a 5x return, following the startup's $20M Series A raise.
  • OmniRetail's revenue skyrocketed from $280,000 in 2020 to over $120 million in 2023.
  • Telkom South Africa's mobile service revenue increased by 10.2%, adding nearly 3 million new subscribers last year.
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The recent successes of companies like Silverbacks Holdings and Telkom highlight the growing potential of the African market, particularly in technology and telecommunications. However, the challenge remains for startups to navigate infrastructure and operational hurdles, which Salus Cloud aims to address. Continued investment in these sectors is crucial for sustaining growth and innovation across the continent.
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