In the US, Sonoma Pharma is the latest company to open an office in South Africa.
But its CEO, Daniel Nkosi, has also invested in South African startups.
The company’s latest acquisition is a $2.8 million seed round, according to VentureBeat.
The fund was led by American angel investor Jason Miron, who also founded the popular seed accelerator, Sequoia Capital.
Nkosci, who grew up in Johannesburg and is a former Microsoft executive, is one of the founders of the company.
Sonoma’s CEO Daniel Nakosi said he plans to “take a look at the other startup spaces in South Asia to see if there are any opportunities there”.
Mr Nkosi’s firm is currently focusing on acquiring companies in the medical cannabis industry in South America.
Sonocare is a biotechnology company that makes cannabis extracts for treating patients with cancer.
The founder and CEO of the San Diego-based company, John Bhattacharya, said his company was “very excited” about the South African investment.
He said the company was looking to “expand in the healthcare sector”.
“There’s lots of opportunities to invest in this space,” Mr Bhattas said.
Mr Nakosci is also an investor in Sonoma Pharmaceuticals, a biopharmaceutical company that was launched last year.
Mr Bhatacharya said his investment in Sonocares “is for the long term and will have a big impact on our business and operations”.
Mr Bhossekar is an entrepreneur and businessman with a strong background in technology, he said.
“I was raised in the UK and had my first career in the tech sector.
I was very interested in startups and I started Sonocaredia to help develop these companies.”
Mr Bhoosekar said the investment would allow Sonocaria to “grow more quickly”.
“This is a very exciting investment for us, it gives us an opportunity to grow and it will help us to take on more positions and grow our business,” he said, according the company’s website.
Sonoco Pharmaceuticals is another company that has announced an office and said it was planning to set up a new headquarters in the country.
CEO David Bhatas said he wanted to grow the company to help South Africa grow faster.
“We have a very strong team and it’s a great opportunity to create a bigger company and a larger team,” Mr Bhas said, The company has recently been acquired by Chinese company TingTing Pharma, which will be the company that will provide the drug delivery and distribution to Sonocaras patients.
Sonacare is the second South African company to announce an office.
Sonal Pharmaceuticals has also announced plans to set its headquarters in South Korea.
The medical cannabis company’s CEO, Richard Njoro, said the office was “a natural fit for the country” and was an opportunity for him and his team to “help South Africans get access to medical cannabis.”
Mr Njororo said the firm would look to “enhance the availability of cannabis medicine to patients, to help us build a strong, well-functioning and sustainable cannabis business”.
“We are proud to be an employee of Sonoma and its customers and want to thank them for their support,” Mr Njioro said in a statement.
The South African government has also made an investment in the Sonoma company.
It’s announced an investment of $1.9 million in the company in March, according VentureBeat, which has been independently verified by Mr Bhodes.
The investment is the third in the first quarter of 2018.
Mr Bhossekas said the deal “has the potential to have a positive impact for the South Africans, especially with regards to medical access”.
Sonoma has said the South Korean firm will not be involved in any sales activities in the US.