Savca selects 13 participants for fund manager development programme

The Southern African Private Equity and Venture Capital Association (Savca) has selected 13 women and black fund managers for its Fund Manager Development Programme (FMDP).

Savca runs the programme — which aims is boost the number of black and women fund managers in South Africa — in partnership with First National Bank (FNB) and the SA SME Fund as lead sponsors.

In a statement yesterday Savca said the 13 — who are made up of participants from seven private equity funds, four infrastructure funds and two venture capital (VC) funds — were selected from over 50 applicants.

FMDP programme manager Melanie de Nysschen said the calibre of the applications received was “extremely high” and selecting just 13 participants was “no easy feat”.

De Nysschen said an even split was obtained between aspirant and growth fund manager participants.

The 13 inaugural Fund Manager Development Programme participants were selected from over 50 applicants

She added that the programme caters to caters to two types of fund managers.

These she described as first-time fund managers who have an investment thesis but who are still in the process of setting up their fund and experienced growth fund managers who are in the process of raising further capital.

“Given that the programme will cater to fund managers that are in different stages of development or growth, there will be customisation of the programme to target relevant areas of development and support for the selected fund managers.

“The intention is not to flood the market with hundreds of new private equity and venture capital firms, but rather to assist the selected high-potential emerging fund managers who can contribute to the broadening of the overall industry,” explained De Nysschen.

Savca declined to reveal the names of the individuals selected for the initiative, but was able to provide a list of the funds that the 13 participants hail from. These are:

• Bloom Ventures’ Bloom Venture Fund
• Heritage Capital‘s Heritage Capital Fund I Partnership
• Infra Impact Investment Managers’ Infra Impact Mid-Market Infrastructure Fund
• Intaba Management Company’s Intaba Impact Growth Fund
• Kazi Capital‘s Kazi Capital Fund
• Khumovest Advisory’s Khumovest Private Equity Fund I
• Mahlako a Phahla Financial Services‘ Mahlako Energy Fund
• Baobab Venture Partners’ Matla Fund
• Moshe Capital Investments
• Sanari Capital‘s Sanari Lower and Mid-Market Fund
• SummerPlace Equity Partners
• Maya Group Capital‘s Sync 22 Affordable Housing Fund
• Bayakha Infrastructure Partners‘ Transformational Infrastructure Fund

The 12-month programme will be conducted through classroom-based teaching, one-on-one coaching, mentoring and support from industry stakeholders.

Savca said programme aims to address some of the challenges typically experienced by first-time emerging fund managers.

These it said include fundraising, access to networks and working capital facilities and most importantly ensuring the fund team has the necessary support to successfully execute on their fund’s investment mandate.

Practically relevant programme

Savca CEO Tanya van Lill (pictured above) pointed out that participants will also receive guidance from dedicated mentors and coaches, along with the added support of shortlisted preferred suppliers who are willing and able to deliver services into these fund managers at preferred rates.

To ensure the practical relevance of the programme, Van Lill said the final quarter is expected to culminate in capital raising presentations to both local and international investors.

She added that she hopes that through the transformation initiative, there will be a substantial increase in the value of assets under management by black and female-owned and managed funds.

A 2019 Savca industry survey revealed that the percentage of female and black professionals within the industry in 2018 increased to 29.6% and 56.9% respectively, up from 21.8% and 50.9% in 2017.

Featured image: Savca CEO Tanya van Lill (Supplied)