South African venture capital firm 4Di Capital has reached a first close for its new technology venture capital fund with ZAR256 million (approximately US$16.8 million) in capital commitments. Investors in the fund included Exponential Ventures, the investment arm of Johannesburg Stock Exchange-listed financial services group MMI Holdings. The fund will invest in early- and growth-stage companies, with a focus on technology opportunities in the financial, insurance and health sectors.