Endeavor South Africa has recently achieved a significant milestone by completing the first close of its Harvest Fund III, amassing ZAR190 million (approximately US$11 million) towards its ambitious ZAR500 million (around US$28.8 million) goal. This fund is dedicated to fostering the expansion of tech-oriented businesses with high growth potential throughout the African continent.
Since establishing its presence in 2004, Endeavor South Africa has been instrumental in providing emerging companies with essential resources such as mentorship, a vast global network, and financial support. This is achieved through connections with investors within its expansive network, the Endeavor Global Catalyst Fund, and the organization’s own Harvest Fund initiative.
The third iteration of the Harvest Fund has successfully secured ZAR190 million of its ZAR500 million target, with significant contributions from leading investors such as Standard Bank, Allan Gray, and the SA SME Fund. This initial funding round coincides with the final investment from the successful ZAR190 million Harvest Fund II, which has invested in 19 ventures across 17 companies.
Antonia Bothner, the capital markets lead at Endeavor SA, emphasized the organization’s commitment to continuing a proven investment strategy with Harvest Fund III. The focus remains on supporting the growth of Endeavor’s portfolio of high-growth entrepreneurs who are at the helm of market-leading, founder-led companies. These companies are distinguished by their strong local and global expansion potential, scalable intellectual property, robust returns, and a culture of giving back to the community.
Harvest Fund III is set to exclusively invest in a carefully curated pipeline of 135 Endeavor-selected companies across Africa. The investment will target 20 to 25 companies in Southern Africa and an additional five companies in other regions of the continent.
Alison Collier, the managing director of Endeavor South Africa, highlighted the organization’s deep understanding and confidence in the growth potential of the 135 businesses within their pipeline. These companies have been meticulously selected through Endeavor’s thorough two-stage international selection process, which spans one to two years. Endeavor South Africa maintains continuous engagement with these companies, closely monitoring their growth and capital needs to strategically direct the investments of Harvest Fund III.
