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Financials

Amplats, PIC invest $200 million in platinum venture funds

JOHANNESBURG, July 17 (Reuters) - South Africa’s Anglo American Platinum has invested $100 million in two venture capital funds focused on increasing demand for platinum group metals, it said on Tuesday.

The investment in the two UK-based funds, managed by AP Ventures, will be matched by a similar commitment from the South African state pension fund, the Public Investment Corporation.

“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.

Reporting by Tiisetso Motsoeneng; editing by Jason Neely

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