Ex-Vodacom Executive Eyes $200 Million AI Fund Post Optasia Exit

Former Vodacom Group Ltd. executive Romeo Kumalo’s investment firm plans to raise a $200 million fund to back artificial intelligence-focused companies across Africa, as it bets on a wave of innovation following its profitable exit from Optasia.

Kumalo’s private equity vehicle, LLH Capital Ltd., was among the earliest backers of Optasia, a financial-technology and AI platform that made its debut on the Johannesburg Stock Exchange on Tuesday with a valuation of about $1.4 billion.

“This IPO has shown us what the future is for technology and companies driven by artificial intelligence in Africa,” Kumalo said in an interview ...