SAVCA Conference 2021: Re:imagining life after Covid for private assets
The world has changed dramatically since SAVCA held its last conference in 2020 in the unforgettable Stellenbosch region. Covid-19 has forced us all to adapt to a new normal and for SAVCA, this included hosting their annual conference virtually for the first time. The overarching conference theme was re:imagine, an apt idea given how the…
Read MoreSA private equity firm has R350 million available for investment opportunities
Private equity company Moshe Capital Fund Managers is actively seeking to invest R350-million into diverse companies with a solid presence in their sectors. The firm has secured a funding commitment from FNB Commercial and has entered into a partnership agreement with RMB Ventures. Both divisions of FirstRand Limited. “Despite economic challenges, there are several opportunities…
Read MoreSAVCA Conference 2021: Day 2 in review
Day 2 started with our MC Zipho Sikhakhane providing an insightful recap of some of the main themes and learnings from the powerful conversations and debates held on Wednesday. Session 1: PE Re:imagined, the lasting impact of COVID – case studies In the first session of the day, which was moderated by Tanya van Lill,…
Read MorePRESS RELEASE: AFRICAN INFRASTRUCTURE INVESTMENT MANAGERS ACQUIRES MAJORITY STAKE IN GHANA-BASED DATA CENTRE
AIIM expands its digital infrastructure footprint with investment in carrier neutral, co-location data centre, via newly incorporated Onix Data Centre platform Cape Town, 4 March 2021: African Infrastructure Investment Managers (“AIIM”), one of Africa’s largest infrastructure-focused private equity fund managers, together with the management team of the new Onix Data Centres Limited (“Onix DC”) platform, have acquired a majority stake in Ngoya Etix DC (Ghana) Ltd, a carrier-neutral data centre with a current capacity of 170 racks (expandable to 680 racks), via AIIM’s flagship pan-African infrastructure fund, AIIF3. Located in the Greater Accra…
Read MoreSAVCA Private Equity Conference 2021: Day 1 in review
A selection of Coffee Conversations The first day of the 2021 annual SAVCA conference kicked off virtually with a number of coffee conversations where delegates were invited to share their views on a range of topics. Sthembile Nkabinde, CEO: Khulasande Capital led a conversation on how PE fund managers can have a positive impact. The…
Read MorePress Release: Sanlam Private Equity acquires majority stake in Cullinan’s largest employer
In a win for the private equity sector in South Africa as well as transformation in the agro-processing industry, Sanlam Investments through their private equity business, Sanlam Private Equity (“SPE”), has acquired a majority stake in the Cavalier Group of Companies, a supplier of premium red meat products and the largest employer in the Cullinan region…
Read MorePress Release: Convergence Partners announces acquisition of Ctrack in Africa and the Middle East
Convergence Partners announces acquisition of Ctrack in Africa and the Middle East Convergence Partners, leading tech investor in Africa, has entered into an agreement with Inseego Corp. (Nasdaq: INSG) to acquire 100% of Ctrack’s operations in Africa and the Middle East. This will be the maiden investment for its third fund, Convergence Partners Digital Infrastructure…
Read MoreSTATEMENT: SAVCA Responds to 2021 Budget Speech
The Southern African Venture Capital and Private Equity Association (SAVCA) welcomes the announcement that proposed changes to Regulation 28 will be published by National Treasury later this week for public comment, as outlined by Finance Minister Tito Mboweni during the National Budget Speech on Wednesday afternoon. SAVCA has been advocating for changes to Regulation 28…
Read MoreHLAYISANI GROWTH FUND SUCCESSFULLY CLOSES FIRST ROUND AT R350M
Johannesburg, 23 February 2021 – Hlayisani Growth Fund (HGF) has announced its first close at R350m to invest into high-growth, high-impact businesses. The funding round was led by Standard Bank and prominent SA family offices. Focussed on the SME ecosystem, the HGF tackles the existing SME funding gap between early-stage venture capital and more traditional…
Read MoreMetier invests in Energy Vision via Sustainable Capital Fund
Metier, through its most recent Sustainable Capital Fund, has made a substantial investment into Energy Vision to grow the provision of reliable, clean-energy, cost-effective and environmentally friendly solutions to powering telecom equipment for mobile network operators and telecom tower companies. The partnering is centred around Energy Vision’s ambitions to increase its customer base and installed…
Read MoreBOSE VENTURES LEADS $8.3M FUNDING ROUND INTO HEARX GROUP TO STRENGTHEN ITS HEARING CARE STRATEGY
hearX Group (hearX), an impact-driven scale-up with a mission to increase access to hearinghealthcare through smart digital solutions, has completed a multi-million-dollar funding round led by Bose Ventures, the United States venture capital group within Bose Corporation. HAVAÍC, who invests in and supports early-stage, high-growth African businesses, led the local funding round in South Africa,…
Read MoreSTATEMENT: SAVCA Responds to State of the Nation Address 2021
The Southern African Venture Capital and Private Equity Association (SAVCA) notes the concerns raised by President Cyril Ramaphosa and the challenges which face our country as we look to the year ahead. Delivering a sobering speech about the challenges which lie ahead of us, the four priorities, as outlined by the president during his speech…
Read MoreMineworkers Investment Company Commits USD10 million to Knife Capital’s African Series B Expansion Fund
09 February 2021, Johannesburg, South Africa – Mineworkers Investment Company (MIC) has committed USD10 million to venture capital firm Knife Capital’s new African Series B expansion fund, Knife Fund III. The Fund’s aim is to invest behind the aggressive expansion of African innovation-driven companies and fill a critical follow-on funding gap. The commitment positions MIC…
Read MorePRESS RELEASE: Khumovest launches Khumovest Private Equity Fund I, secures investment from 27Four Black Business Growth Fund
Khumovest is proud to announce the launch of the Khumovest Private Equity Fund I, which is a Private Equity Fund that is focussed on making equity capital investments into small and mid-cap companies operating within South Africa. Khumovest was established in 2015 by Mr. Ratirelo Mothobi, CA(SA) and Mr. Thurstan Moodley, CFA and is a…
Read MoreSouth Africa Valuations Survey Report 2020 by FTI Consulting South Africa
Assessing Impact of COVID-19 Related Lockdown Restrictions on Valuations The COVID-19 pandemic has disrupted businesses, caused market volatility and triggered asset devaluations across the globe. Bill Conerly, a Forbes economist, states that the pandemic hurts economies in four ways: Supply chains failures; Direct effects of illness in terms of lost work by those who are…
Read MorePress Release: Acquisition of additional interest in ChannelVAS (CVAS)
Convergence Partners is pleased to announce that it has acquired an additional $5 million interest in CVAS, a leading fintech provider of mobile financial services across sub-Saharan Africa and beyond.
Read MoreMedia Release: Private equity sees start of recovery
The latest RisCura-SAVCA South African Private Equity Performance report for the second quarter of 2020 showed glimpses of a recovery, though Covid-19’s impact remains evident. The report tracks a representative basket of private equity funds in South Africa. The 10-year and five-year ZAR internal rate of return (IRRs) increased from 8.1% and 3.5% to 8.5% and…
Read MoreMedia Release: SAVCA statement on Moody’s and Fitch ratings downgrade on SA
The Southern African Private Equity and Venture Capital Association (SAVCA) notes with disappointment the downgrade of the country by ratings agencies Moody’s Investors Service and Fitch Ratings, further into junk status. In March this year, Moody’s had downgraded SA to BA 1 junk status, not long after the country had entered its hard lockdown brought…
Read MoreMEDIA RELEASE: SAVCA Responds to Medium-Term Budget Policy Statement
The Southern African Venture Capital and Private Equity Association (SAVCA) agrees with the concerns raised by Finance Minister Tito Mboweni and the current economic outlook as outlined during Wednesday’s Medium-Term Budget Policy Statement (MTBPS). While SAVCA welcomes the transparency around the long-term effects of the COVID-19 pandemic and the continued strain which the fiscus is…
Read MorePRESS RELEASE| SAVCA APPOINTS NEW CHAIRMAN
The board of directors of the Southern African Venture Capital and Private Equity Association (SAVCA) is pleased to announce the appointment of Lelo Rantloane as its new chairman. Rantloane, who is the founding CEO of Ata Capital, takes up the position after serving on the SAVCA board for 5 years. He has significant investment banking…
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