Over the past two decades, Wierzycka has built Sygnia into one of the country’s largest asset managers. The company now oversees R461 billion, up from only R2 billion when it started. It also reported a profit of R383.2 million in 2025 and is valued at about R5.22 billion.
The plan for the new fund as reported by Business Times, confirmed that Wierzycka wants to keep more AI talent and intellectual property inside South Africa rather than see it move overseas.
Wierzycka said South Africa has strong technical skills but lacks the funding structures common in places like the United Kingdom and the United States.
“We have the same intellectual capital, but not the same access to capital,” she explained.
Her concerns grew after attending the World Economic Forum, where global discussions on AI made her realise how quickly the world is changing. She warned that South Africa may miss out on the benefits of AI if local founders continue to seek foreign funding.
“If we do nothing, we will only be exporting our best engineers and later importing the technology we should have built ourselves,” she said.
Many South African entrepreneurs currently turn to offshore investors, who often take large stakes in early-stage companies. Wierzycka sees this as a major reason why startups leave the country.
“We are letting AI founders move their ideas and ownership offshore,” she said.
Sygnia will formally announce the new fund later today, with the aim of making it fully active within six months. The company plans to invest some of its own money and also run a national competition to help find the best new AI ideas.
The fund will do more than provide early funding. Startups will also receive support in areas such as licensing, marketing, and turning technical concepts into real, sellable products.
Wierzycka first hinted at this idea in her December 2025 CEO report, where she also confirmed that she had returned to South Africa after seven years living in the UK. While tax changes influenced her decision, she said the global race towards AI leadership also played an important role.
Her experience in the UK showed her that South Africa lacks a strong venture capital industry, even though it has a young and capable population. She believes that proper VC support could help startups build strong foundations, learn new skills, and gain access to international advice.
Wierzycka has previously encouraged retirement funds to direct part of their assets towards venture capital, arguing that this could strengthen innovation and help South Africa compete globally.