Anglo American Platinum invests $100 million in venture funds

Anglo American Platinum invests $100 million in venture funds

South Africa’s Anglo American Platinum has just invested $100 million in two venture capital funds focused on increasing demand for platinum group metals.

According to Reuters, the company invested into two UK-based funds managed by AP Ventures.

The medium reported that the amount will be matched by a similar commitment from the South African state pension fund, the Public Investment Corporation to make the total sum $200 million.

“Developing the market for PGMs is a strategic priority for Anglo American Platinum and this investment with AP Ventures is a key initiative,” Anglo American Platinum said in a statement.