Quantum Capital
QCF
Jetstream
The Jetstream

South African VC Firm Debuts $200M US Fund, Invests $30M In ‘The Jetstream’ [Updated]

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A South African venture capital firm by the name Quantum Capital Fund (QCF) this morning officially launched a $200 million fund in the United States.

QCF’s first investment in a US technology venture is a $30 million capital injection into The Jetstream, a mysterious company that is working on a “social media network targeted to a wide variety of people who are on a journey to self-discovery”.

The fund says it will focus on “information technology, online media and Internet-related sectors”.

The VC firm’s U.S. operations will be led by Arnold Magcale, from Santa Clara, California. Magcale has stints at Danger / Microsoft, Motorola and Loudcloud under his belt.

[Update from Eric Eldon: I talked with Magcale by phone and he wasn’t able to provide any specifics about any investments the firm has made, besides Jetstream and the other splash pages that the site links to. This is extremely unusual for a venture fund that claims to have been operating since 2004. As commenters are noting below, something seems very odd about the whole thing. We’ll wait to see if Quantum can provide any more information.]