SAVCA 2019 Member’s Directory

Private Equity & Venture Capital in Southern Africa Pan-African expertise Global reach

IMAP, with partner firms present in nearly 40 countries and a total of more than 500 M&A professionals, is the World’s largest M&A partnership. Verdant Capital and its partner in Morocco are the IMAP partners firms in Africa.

Verdant Capital is a specialist corporate finance firm with exceptional experience transacting across the African continent. Verdant Capital operates in two segments, Mergers and Acquisitions and Financial Institutions. Leading global Johannesburg | Ebene | Accra | Kinshasa | www.verdant-cap.com M&A partnership 4 MATRIX REFERENCE Matrix reference Matrix reference Agis Ventures Agile Holdings Africa RainbowCapital Actis AfricaLtd Acorn Private Equity 4Di Capital(Pty)Ltd 27Four Investment Managers Full members Africa LighthouseCapital API Capital Managers (Pty)Ltd African Infrastructure Investment Adinah CapitalPartners Zico CapitalFundII Zico CapitalFundI Actis AfricaFund3 Fund forAfrica(CIFA) Actis AfricaFund2andCanadaInvestment Acorn Agri&FoodLtd 4Di CapitalFundI BusinessGrowth Fund 27four Black Fund name Apollo Investment PartnershipII Africa Infrastructure Investment Fund2 InfrastructureKagiso Empowerment Fund African Infrastructure Investment Fund Ideas Fund Adinah CapitalPartners SME Growth South AfricanEnergy &Infrastructure Fund Africa LighthouseCapitalSouth Africa LighthouseCapitalFundI API CapitalFund 4Di ExponentialTech Fund1 R444 million R500 million R500 million across Africa US$566 million R1.5 billion capital offund Committed Fund formationstage ZAR 3.000million BWP 500million R500 million R529 million R1 320million R14 960million Open-ended across Africa R281.3 million R88 million R3 644 US$910 million million

R50 million ZAR 50million BWP 30million R80 million R100 million R200 million R100 million R150 million R150 million R20 million R20 million company) by portfolio investment (smaller if R100 million R50 million investment Minimum R1 million R5 million US$80 million R4 million R500 000 R300 million ZAR 500million BWP 150million R250 million R400 million R900 million R150 million R300 million R780 million R200 million R500 million R750 million Mid-market investment Maximum R7 million R100 million US$250 million US$200 million/ R49.3 million R13.5 million secondaries Greenfield &brownfield/ buy-outs partial buy-outs,leveraged stagecapital,buy-outs, later capital, expansion capital, Expansion stage,growth track record At leasttwoyears profitable R200 million stage preference Investment construction Operational /In Growth, Mature Growth, Mature buy-outs expansions, secondaries, Later stage:MBO,MBI, Capital Growth andExpansion capital, privatisations expansion andreplacement buy-ins, leveraged buy-outs, – Managementbuy-outs/ Later stageinvestments established companies Early stagethrough to Start-up, seed,earlystage Renewable Energy, Infrastructure Healthcare, Education Hospitality, Energy, BusinessServices, Consumer, Industrial,Manufacturing, Healthcare, Education Financial Services,Telecommunications, Consumer, Industrial,Infrastructure, Infrastructure Infrastructure Infrastructure Infrastructure Infrastructure focusedonrenewable energy All industries Aricultural &foodvaluechain Generalist Industry preference All industries All industries Insuretech, Healthtech &Fintech Consumer Facing Generalist PEFund Technology Matrix reference

5 MATRIXFULL REFERENCE MEMBER 6 MATRIX REFERENCE Matrix reference Coast2Coast Capital Business PartnersLimited (BDC) Botswana Development Corporation Bopa Moruo Ata Capital(Pty)Ltd (Proprietary) Limited Ashburton FundManagers Ascension CapitalPartners Full members ASOC ManagementCompany BFS FundManager Cinnabar Investment Management Capitalworks Investment Partners Awethu Project Capital Athena Capital(Pty)Ltd Coast2Coast Capital Business PartnersLtd Venture Fund General Fund Bopa MoruoPrivate EquityFundI Ata FundII Ata FundI Fund name ASOC FundI Exponential Venture Capital Limited The NamibiaProcurement FundII The NamibiaProcurement FundI Ashburton MezzanineFundI Ashburton Private EquityFund1 AscensionPrivate EquityFund Capitalworks Private EquityFundII Capitalworks Private EquityFundI SAB Thrive Fund sefa Awethu Youth Fund(sAYF) AIH Limited R5.2 billion R300 million capital offund Committed R6.7 million N$250 million N$350 million R507.5 million R500 million R122 million US$267 million R1.5 billion R400 million R500,000-R50 million R110 million R593 million R473 million R205 million R64 million US$75 million R100 000 N$100 000 N$100 000 R75 million R30 million R10 million over R15million) (annual profits R50 million BWP30 million R25 million investment Minimum R150 million R1 million R 500 000 R30 million R100 million R500 000 R500 000 US$5 million R5 million N$96 million N$96 million R200 million R100 million R80 million R4 billion R80 million investment Maximum R25 million R5 million R50 million R700 million R500 million NAV Up to 10%of R10 million R50 million R125 million R60 million US$50 million operation Mature, 7-50years in Later Stage stage preference Investment Revenue generating strategies capital andturnaround commodities, venture Primary agriculture, primary leveraged buy-outs Buy-outs, partialbuy-outs, Expansion stage Services Logistics, Marketing, Other Commodities, Packaging, Startup, Early,Growth capital growth capital,expansion Management buy-out, estate development primary agricultural,real Primary mining/extractive, Research &Development All except Seedand investments post-revenue stage Expansion, buy-outand capital, buy-out Growth, replacement Buyouts Early stage,Expansion, Multi-industry No Preferences n/a Distressed andspecialsituations development Investment stagepreference: extractive, primaryagriculture, real estate Generalist otherthanprimarymining/ fast movingconsumer goodsandinsurance personal care products, homecare products, consumer products, footwear andclothing, garden chemicals,animalhealth, foods, equipment anddevices,agro-chemicals, personal care, healthandbeauty, medical Pharmaceuticals, complimentarymedicines, Services andIndustrial Industry preference Education, InformationTechnology Infrastructure, Energy, Services, Healthcare, Agro-processing, Manufacturing, Any Any Various exploration Any otherthanreal estate oroilandgas None services, businessservices Fast movingconsumergoods,financial Various Matrix reference

7 MATRIXFULL REFERENCE MEMBER Matrix reference Matrix reference

Committed Minimum Maximum Investment Full members Fund name capital of fund investment investment stage preference Industry preference

Development Bank of Southern Africa Early stage, development Water, ICT, energy, transport & logistics (DBSA) capital, expansion stage, growth capital, expansion capital

Development Partners International African Development Partners II US$724 million US$10 million US$100 million Expansion stage, growth Industries that benefit from emerging LLP (R110 million) (R850 million) capital, expansion capital middle class

African Development Partners I US$400 million US$10 million US$75 million MATRIX REFERENCE MATRIX MATRIX REFERENCE MATRIX (R110 million)

Edge Growth Vumela Enterprise Development Fund R388 million R2 million R20 million Early stage, expansion stage, No preference, if job creation is evident growth capital

ASISA Enterprise Development Fund R354 million R1 million R30 million Growth Stage Suppliers to the Financial Services Sector

Emerging Capital Partners ECP Africa Fund III and ECP Africa Fund IV US$30 million US$100 million Expansion and Consumer goods, infrastructure and development logistics, ICT and Telecommunications and Financial Services

Enablis Financial Corporation SA Khula Enablis Loan Fund R40 million R100 000 R5 million Early stage expansion and SME (Investment period ended) expansionary finance

Khula Enablis SME Acceleration Fund R50 million R25 000 R2.5 million Early stage expansion SME (Investment period ended) Eos Capital Allegrow Fund N$461 million N$10 million N$90 million Mature Consumer Products/ Financial Services/ ICT/General Industrial Espin Capital Espin Capital Private Equity Fund 2018 (Pty) Ltd R500 million R20 million R1000 million BEE, Expansion Capital, All industries (R1billion) Growth Capital, LBO, MBO, MBI, Replacement Capital and Acquisition Capital

Ethos Private Equity Fund VI R8.3 billion R1.5 billion R3 billion and Market leading businesses Industrials, consumer, telcos, manufacturing greater in and selective growth capital and business services consortium opportunities

Ethos Fund V R5.7 billion R100 million R350 million

Ethos Mid Market Fund I R2.5 billion R500 million R1.5 billion

GAIA Fund Managers (Pty) Ltd GAIA Infrastructure Equity Fund Fund opened for R50 million Operational and near Energy, road infrastucture, water and (Launched Oct 2015) capital raising operational assets sanitation

Global Capital Global Capital Fund No. 4 R50 million No limit None

Global Capital Australia

8 9 Matrix reference Matrix reference

Committed Minimum Maximum Investment Full members Fund name capital of fund investment investment stage preference Industry preference

Grindrod Private Equity Grindrod Private Equity R100 million R20 million R50 million No preference

Grovest Venture Capital Company Grovest Venture Capital Fund Raising R3 million R10 million Early stage, development Diversified Limited R100 million capital, expansion stage, growth capital

Growth Capital Partners Growth Capital Partners Fund R100 million R5 million R25 million Later stage General

Growth Grid Venture Capital Partners Growth Grid R44.25 million R3 million R8 million Early growth, post revenue Agnostic MATRIX REFERENCE MATRIX MATRIX REFERENCE MATRIX Harith General Partners Pan African Infrastructure Development Fund US$630 million US$20 million US$100 million Greenfields infrastructure, Energy, transport, telecoms, water, growth capital, expansion sanitation and health Pan African Infrastructure Development Fund 2 US$439 million US$10 million US$44 million capital

HAVAIC Holdings South Africa PTY LTD GP LP R1 million R20 million Pre- Series A Tech

Heritage Capital Heritage Capital Fund I R500 million R30 million R100 million Sustainable and profitable Industrial, consumer brands and services

i-Cubed Capital (Pty) Ltd iCubed SME Investment Fund R50 million R50 000 R5 million Growth capital, expansion FMCG, Retail, Manufacturing & Distribution capital, leveraged buy-outs

IDF Capital IDF 1 R149 million R250 000 R30 million Closed General

IDF II R230 million R250 000 R30 million Growth/Venture Capital

IJG Capital Desert Stone Fund N$161.6 million N$8 million Limited to 20% Start-up, Venture Capital & Services of Committed Private Equity IJG Frontier Investment Fund Limited N$200 million N$8 million Capital All Industries except for Exclusions

Imbewu Capital Partners Consulting R2,5 million MBO, MBI, LBO, expansion, None Acquisition & replacement capital, Mezzanine, Property and BEE

Industrial Development Corporation R1 million Dependant From Prefeasibility stage (IDC) of nature of onwards transaction

Infinitus Holdings (Pty) Ltd Infinitus Holdings (Pty) Ltd n/a R50 million R150 million Growth and later-stage Consumer, Industrial and Financial Services

Inspired Evolution Investment Evolution One fund USD94 million R20 million R200 million Mostly expansion stage/ Multi-sector: clean and sustainable energy Management (Pty) Ltd plus (with greenfield and brownfield and resource efficiency co-investment infrastructure, limited LBO USD124.5 million (current) rights)

Evolution II Fund USD216 million (current) USD5 million 15% of Total Early stage infrastructure Renewable and Sustainable Energy Committed development, expansion Generation, Energy Efficiency, Water Capital. Est and growth equity Efficiency, Agribusiness Efficiency, Waste USD30 million and Environmental Services (but larger co-investments)

10 11 Matrix reference Matrix reference

Committed Minimum Maximum Investment Full members Fund name capital of fund investment investment stage preference Industry preference

Invenfin Invenfin Undisclosed None None Growth General technology and food & beverages

Investec Asset Management - Investec Africa Private Equity Fund 1 US$155 million Fund 1 Fund 1 & 2: Fund 1 & 2: Fund 1 & 2: Africa Private Equity Fund (R1.5 billion) US$15 million US$70 million Growth capital, expansion Generalist – Sector agnostic (R150 million), (R700 million) capital, later-stage capital, with preferences for consumer-facing with a target with ability to buy-outs, partial buy-outs businesses range of make larger US$15-40 investments million through bringing MATRIX REFERENCE MATRIX MATRIX REFERENCE MATRIX (R150 million- in co-investors R400 million)

Investec Africa Private Equity Fund 2 US$295 million Fund 2 US$15 million (R150 million), with a target range of US$15-40 million (R150 million-R400 million)

Investec Africa Credit Opportunities Fund 1 US$226.5 million US$10 million US$20 million Generalist

Jarvie Group Independent R100 million No minimum R100 million Development Capital and Agriculture/Energy/Manufacturing Buyout

Kagiso Tiso Holdings R250 million Dependant MBO, MBI acquisition, Financial services, industrials, health, on nature of secondary purchase media, power, food transaction

Kalon Venture Partners Kalon Venture Partners Limited - Disruptive R107 million R1 million 20% of total Early stage post revenue Technology: Fintech, Retail, Telecoms, Technology Fund funds under FMCG, Media, ICT, other management

Ke Nako Capital (Pty) Ltd 1) Ke Nako Private Equity Fund Trust R3.4 billion R35 million R400 million Generalist (Investment period closed). 2) Ke Nako Fund II en commandite partnership (Investment period open). 3) Alternative Equity Partners (Investment period closed). 4) SA Pension Fund (Investment period open)

Kingson Capital Partners Kingson Capital Class A Undisclosed R500 000 R50 million Early stage and high growth ICT, Engineering/energy and healthcare small to medium-sized companies, plus some profitable expansion capital opportunities

12 13 Matrix reference Matrix reference Matrix reference

Committed Minimum Maximum Investment Full members Fund name capital of fund investment investment stage preference Industry preference

Kleoss Capital Kleoss Fund I R848 million R50 million R150 million Expansion/Growth Capital, Generalist Fund LBO, BEE Funding

KNF Ventures/Knife Capital KNF Ventures R50 million R1 million R10 million High-growth/ Expansion Innovation-driven Ventures (Raising R100 million)

Here Be Dragons (HBD) VC R138 million R10 million R25 million

KZN Growth Fund Trust KZN Growth Fund R800 million R30 million R200 million Early Stage and Generalist Fund MATRIX REFERENCE MATRIX MATRIX REFERENCE MATRIX Expansionary KZN Growth Equity Fund R300 million R20 million R100 million

Linkmakers Capital LinkMakers Capital As of 2 May 2017 R750 000 R7.5 million SME suppliers in corporate Cross Sector R45 million supply chains entering committed growth & acceleration stages

Mahlako-a-Phahla Financial Services Mahlako Energy Fund N/A None 15% of total Growth capital, expansion Energy growth assets and infrastructure committed capital, brownfields capital infrastructure

Makalani Management Company (Pty) Ltd Makalani Fund II R650 million R20 million R150 million Existing businesses with All industries other than exclusions (Target R1,25 billion) minimum of 3 years trading history

Makalani Management Company (Pty) Ltd R2.5 billion R15 million R150 million Later stage capital, no seed and start-ups

Medu Capital Medu Capital Fund II R900 million R50 million R200 million Established companies General

Medu Capital Fund III R1.1 billion

Mergence Mergence Infrastructure & Development | R600 million R30 million R300 million Development, construction Infrastructure assets Equity Fund and operational

Metier Capital Growth Funds Predecessor fund R50 million R750 million Development capital, Diverse R3.0 billion, expansion stage, growth Successor fund capital, expansion capital R2.9 billion

Sustainable Capital Funds R1.4 billion R20 million R100 million Growth, project expansion Renewable energy, energy efficiency, and development stage waste and water management capital

Multiply Group On Balance Sheet Private Investment Holding Local and No minimum No limit due to Established Growth Platforms in: Company Global Private but requirement the utilization of Businesses Technology, Food, Infrastructure, Investor Capital for scale local and global Property opportunities syndication funding

14 15 Matrix reference Matrix reference Matrix reference

Committed Minimum Maximum Investment Full members Fund name capital of fund investment investment stage preference Industry preference

Nedbank Private Equity Nedbank Private Equity Open Ended R50 million R500 million MBO, expansion, All sectors acquisitions, replacement capital, mezzanine

Newtown Partners Seed stage Blockchain

Novare Equity Partners (Pty) Ltd Novare Africa Property Fund I R974 million R69 million R274 million Development Capital Financial and insurance real estate

Novare Africa Property Fund II R4.8 billion R69 million R822 million Start up & early stage MATRIX REFERENCE MATRIX MATRIX REFERENCE MATRIX Novare Real Estate South Africa Start-up / Early stages Real Estate

The Oakmont Partnership The Oakmont Partnership Fund 1 R800 million R40 million R160 million Early General

One Africa Capital Partners OACV Fund I Targeting R250 million R1 million (seed) R50 million Start-ups and Ventures Technology and Innovation R5 million (early-stage) R10 million (growth)

Old Mutual Alternative Investments OMPE Fund IV R75 million R2 billion Expansion, MBO, LBO, All industries considered replacement capital, Old Mutual Multi-Manager Private Equity Fund III project finance on a limited recourse basis, OMIGSA International Private Equity Fund of development capital, Funds II growth capital and later- stage capital Old Mutual Multi Manager Private Equity Fund III

OMIGSA International Private Equity Fund of Funds II

Old Mutual Africa Private Equity Fund of Funds

PAPEfunds Pan-African Private Equity Fund 1 (Pty) Ltd PAPEF1 R50 million R180 million Mature, high-growth None (PAPEF1) R250 million companies (Fully invested)

Pan-African Private Equity Fund 2012 (Pty) Ltd PAPEF2012 (PAPEF2012) R300 million (Fully investing)

PAPE Fund 3 PAPE Fund 2015 R110m (Still investing)

16 17 Matrix reference Matrix reference

Committed Minimum Maximum Investment Full members Fund name capital of fund investment investment stage preference Industry preference

Pembani Remgro Infrastructure Pembani Remgro Infrastructure Fund US$302 million None Not more Greenfield and existing Greenfield and existing infrastructure and Managers (Pty) Ltd than 15% of infrastructure projects and associated companies across Africa aggregate Fund associated companies commitments in greenfield or infrastructure associated companies MATRIX REFERENCE MATRIX MATRIX REFERENCE MATRIX and not more than 20% of aggregate fund commitments in existing infrastructure projects Phatisa African Agriculture Fund (AAF) US$246 million >US$5 million 10% of fund size Expansion, MBO/I, Primary (arable and plantations), secondary acquisition and early stage (processing and animal feeds) and services/ infrastructure (storage, fertilisers, chemicals, packaging, other inputs)

Pan African Housing Fund (PAHF) First closed at >US$2 million 15% of fund size Combination of equity, Residential greenfield developments with US$41.95 million mezzanine and debt aligned commercial developments

Principal Partners Principal Partners No Fund – R5 million R50 million Early stage, development No prference independent capita, expansion stage, private partnership growth capital, expansion capital, later stage capital, buy-outs, partial buy-outs, lerveraged buy-outs Public Investment Corporation Isibaya Fund R144 billion (9% of R10 million Usually not Early stage, expansion, Energy, including renewable energy, GEPF assets under more than buy-in and buy-out, water, transport and logistics, management) R2 billion venture capital construction and housing, health care, education, tourism, agro-processing, Private Equity R10 million Usually not beneficiation of mineral resources, more than business process outsourcing, R2 billion manufacturing, broadband infrastructure, skills development, SMMEs, services

RH Managers Razorite Healthcare and Rehabilitation Fund R1.6 billion R50 million R200 million Early stage Healthcare

RMB Corvest RMB Corvest Open-ended R30 million R500 million Expansion, MBO, MBI, All industries replacement, BEE, acquisition

18 19 Matrix reference Matrix reference Matrix reference

Committed Minimum Maximum Investment Full members Fund name capital of fund investment investment stage preference Industry preference

Rockwood Private Equity Rockwood Fund I R4.2 billion R250 million R1 billion Expansion stage, growth Various capital, expansion capital, later-stage capital, buy-outs, partial buy-outs, leveraged buy-outs

The SA SME Fund Limited The SA SME Fund Limited R1.4 billion R25 million R125 million Early stage VC to SME None growth capital MATRIX REFERENCE MATRIX MATRIX REFERENCE MATRIX Sampada Private Equity (Pty) Ltd Sampada Private Equity Fund R366 million R10 million Growth, Expansion Commercial Property, Traveling and Leisure and Turnaround and Education

Sampada Private Equity Fund II R10 million Travelling and Leisure and Retail Property

Sanari Capital Sanari Growth Partners Fund I Undisclosed R10 million R40 million Growth equity, platform Supplies and services, consumer, investments, buyouts, late technology, education, healthcare stage venture capital

Sanari Capital Capital raising R50 million R200 million Growth equity, platform investments, buyouts

Sanlam Private Equity Notional funds R2.8 billion R100 million R350 million Late stage No preference

Sasfin Private Equity Fund Managers Sasfin Private Equity Fund circa R500 million R10 million R40 million MBO, development and General expansion, replacement, selective turnaround

Savant Fund Managers Savant Venture Fund R 11 450 000,00 R2 500 000,00 R15 000 000,00 Early-stage Hardware Technology

Senatla Capital Senatla Capital Empowerment Fund I R110 million R10-20 million R25 million Late stage None (closed and fully invested

Senatla Capital Empowerment Fund II R200 million R40 million R110 million Late stage General mandate (closed) Sithega Sithega Financial Services Fund R300 million ( target is R100 million no maximum Established companies, Non-banking financial services R600 million - R1 billion) brownfields

South Suez Capital Ltd South Suez Africa Fund Ltd (SSAF I) US$277.7 million 20% in Secondary Growth capital, Financial services, investment, 20% replacement capital, consumer, in Co-investment greenfield/brownfield, telecom, and 30% in Single leveraged acquisitions media & technology, Underlying Fund oil & gas, industrials and real estate South Suez Africa Fund II LP US$462.8 million 30% in Secondary investment, 30% in Co-investment and 30% in Single Underlying Fund Africa Opportunities Managed Account LP US$56 million South Suez Managed Account II LP US$36 million

20 21 Matrix reference Matrix reference

Committed Minimum Maximum Investment Full members Fund name capital of fund investment investment stage preference Industry preference

Stockdale Street Stockdale Street Open-ended R200 million No maximum Later stage All

Summit Private Equity Summit Private Equity Fund R450 million R100 million R500 million Growth Capital Financial Services, Education, ICT, Healthcare

Takura Capital Takura Ventures US$30.3million US$4 million US$7.5 million Start-up, early stages, Agro-processing, construction & building (R243 million) (R41 million) (R104 million) expansion & development, products, FMCG, food & beverage, buy-out & buy-in, health/pharmaceuticals, ICT, mining Takura II US$45.45 million replacement capital, services, services, tourism MATRIX REFERENCE MATRIX MATRIX REFERENCE MATRIX (R630 million) privatisation, turnaround & restructuring

Tamela Holdings (Pty) Ltd On balance sheet R5 million Healthcare, Manufacturing, Financial Services

Tana Africa Capital Managers Tana Africa Capital US$390 million US$20 million US$75 million Later stage Consumer driven industries and agriculture

Third Way Investment Partners (TWIP) TWIP Core Plus Fund Raising R3 billion R50 million 25% of total Greenfield and Brownfield Renewable energy and other infrastructure commitment projects

Trinitas Private Equity Trinitas Private Equity Fund R670 million R40 million R150 million Mature, cash generative Industry agnostic with a preference for manufacturing, services, retail, industrial

Vantage Capital Group Vantage Mezzanine Fund II R1.9 billion R50 million R350 million Early stage, None development capital, Vantage Mezzanine Fund III R1.8 billion and R50 million & R300 million & expansion stage US$153 million US$5 million US$30 million and projects

VPB (Pty) Ltd / Temo Capital CEDA Venture Capital Fund P200 million N$20 million N$70 million Private equity excluding General secondary purchases

VPB Namibia Growth Fund Trust N$160 million N$5 million N$32 million Healthcare

Vuwa Investments (Pty) Ltd

Westbrooke Capital Management Westbrooke Aria R750 million R1 million R50 million Growth capital, All industries expansion capital Westbrooke Capital Hospitality R375 million R1 million R50 million

22 23 27Four Investment Managers 4Di Capital

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2017 Year fund started 2011 Type of fund manager Independent Type of fund manager Fund of Funds Total number of investments to date 17 Regulatory license number 31045 Number of investment executives 6 Total number of investments to date 3 Principal office address Belmont Square, Belmont Road, Rondebosch, Cape Town, 7701 Number of investment executives 2 Key contact person and designation Anton van Vlaanderen FULL MEMBER Sam Sperring FULL MEMBER Principal office address Fire Station Rosebank, 5th Floor , 16 Baker Street , Rosebank, Johannesburg , 2196 Telephone +27 21 659 2000

Key contact person and designation Rory Ord E-mail [email protected] [email protected] Telephone +27 73 426 4055 Website www.4dicapital.com E-mail [email protected] FUND DETAILS Website www.27four.com Name of fund 4Di Capital Fund 1 Committed capital of fund R88 000 000 FUND DETAILS Fund structure Partnership Name of fund 27four Black Business Growth Fund Nature of fund Seed to early stage investments Committed capital of fund R1.5 billion Number of portfolio companies 12 Fund structure Partnership INVESTMENT PREFERENCES Minimum investment R500 000 Nature of fund Fund of funds Maximum investment R13 540 313 Number of portfolio companies 6 Average current investment size R4 963 447

INVESTMENT PREFERENCES Industry preference Technology Investment stage preference Start up, seed, early stage Minimum investment R50 million Minimum and maximum equity usually taken 15% to 40% Maximum investment R200 million Geographical preferences Southern Africa Average current investment size R100 million FUND DETAILS Industry preference Generalist Name of fund 4Di Exponential Tech Fund 1 Committed capital of fund R281 250 000 Industries excluded Primary agriculture, extractive industries, tobacco, alcohol, arms Fund structure Partnership Investment stage preference Mid-market Nature of fund Seed to early stage investments Investment stages excluded Early stage, buyout Number of portfolio companies 5 Minimum and maximum equity usually taken No restrictions INVESTMENT PREFERENCES Geographical preferences South Africa Minimum investment R4 000 000 Maximum investment R49 383 333 REMARKS Average current investment size R15 441 947 The Black Business Growth Fund (BBGF) invests into Black Private equity funds focused on South Africa, as well Industry preference Insuretech, Healthtech & Fintech as taking co-investment positions alongside these funds. The BBGF is focused on providing investors with strong Investment stage preference Start up, seed, early stage absolute returns, as well as to create jobs and drive transformation in the South African economy. Minimum and maximum equity usually taken 15% to 40% Geographical preferences Southern Africa REMARKS 4Di Capital is an independent venture capital fi rm based in South Africa’s “Silicon Cape”, specialising in high-growth technology venture opportunities, at the early- and growth-funding stages. The firm counts among its funds investors Reinet Fund S.C.A., E. Oppenheimer & Sons, Convergence Partners and MMI Holdings. 4Di funds are 27Four Investment Managers 27Four Investment managed by the GP partnership team of Anton van Vlaanderen, Douglas Cherry, Erik van Vlaanderen, Justin Stanford 4Di Capital and Laurie Olivier. 4Di’s Exponential Technology Fund invests in the FinTech, HealthTech and InsureTech sectors. 24 25 Acorn Private Equity Actis Africa Ltd

FUND MANAGER DETAILS FUND MANAGER DETAILS Type of fund manager Private Equity focussed on Growth Capital to Later Stage Year fund started 07/07/2004 Regulatory license number FSP no. 41196 Type of fund manager General Partner Total number of investments to date 15 Total number of investments to date 4 (SA); 21 (Africa) Number of investment executives 5 Number of investment executives 7 (SA); 20 (Africa) Principal office address Unit D, The Beachhead, 10 Niblick Way, Somerset West Principal office address Cradock Heights 1st Floor, 21 Cradock Avenue, Rosebank, 2196 FULL MEMBER FULL MEMBER Key contact person and designation Pierre Malan Key contact person and designation Tarryn Butcher; Michelle Cawood Carl Neethling Telephone +27 11 778 5900 Telephone +27 21 852 2887 E-mail [email protected] E-mail [email protected] Website www.act.is [email protected] FUND DETAILS Website www.acorn.co.za Name of fund Actis Africa Fund 2 and Canada Investment Fund for Africa (CIFA) www.acornagri.com Committed capital of fund US$566 million across Africa Fund structure Capital raised from investors FUND DETAILS Nature of fund Generalist PE fund Name of fund Acorn Agri & Food Ltd. Number of portfolio companies 0 (SA), 2 (Africa) Fund structure Investment Holding Company FUND DETAILS Nature of fund Agricultural & food value chain Name of fund Actis Africa Fund 3 Number of portfolio companies 10 (SA), 1 (Africa) Committed capital of fund US$910 million across Africa Fund structure Capital raised from investors INVESTMENT PREFERENCES Nature of fund Generalist PE fund Minimum investment R 100 million (smaller if investment by portfolio company) Number of portfolio companies 3 (SA), 8 (Africa) Maximum investment R 750 million INVESTMENT PREFERENCES Average current investment size R 280 million Minimum investment US$80 million Industry preference Agriculture & food value chain Maximum investment US$200 million/US$250 million Investment stage preference At least two years profitable track record Average current investment size US$50 million Investment stages excluded Start-up and venture capital Industry preference Generalist PE fund Minimum and maximum equity usually taken 25% minimum to 100% maximum Industries excluded Military and gambling Geographical preferences Southern Africa Investment stage preference Later stage investments - Management buy-outs/buy-ins, leveraged buy-outs, expansion and replacement capital, REMARKS privatisations Acorn Private Equity is a specialist private equity fund manager currently focused on managing Acorn Agri & Food Investment stages excluded Early stage, seed capital Ltd. The investment team has an excellent track record in creating lasting value and sustainable businesses. Acorn Minimum and maximum equity usually taken 10% to 100% Agri & Food’s vision is to be the operating and investment partner of choice in the agricultural & food value chain that creates a legacy of long-term sustainable value for all stakeholders. Geographical preferences Africa REMARKS Actis is an emerging markets alternative assets investor, investing and managing capital for third-party investors. It has more than 60 years of experience and an unrivalled on-the-ground presence across Africa. Funds under

Acorn Private Equity Private Acorn management in Africa at present total $846 million with $200 million available to invest over the next year. Africa Ltd Actis

26 27 28 Adinah Capital Partners FULL MEMBER Adinah CapitalPartners adjusted returns irrespective ofthesectors weinvest inandmarket conditions. the long-term. Ouruniqueapproach to investing andproblem solving abilities,allowsusto target optimalrisk for thecommunitieswithwhomweinteract. This, webelieve, leadsto sustained valuecreation forinvestors in across Africa.We strive to provide valueforthecompaniesinwhichweinvest solutionsthatcreate and lasting Adinah isanalternative asset managerfocusedoninvesting inprivate companiesandunlisted opportunities Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Minimum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumberRegulatory Type offundmanager Year fundstarted REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS Africa 20% to 90% Early stagethrough to establishedcompanies Alcohol, tobacco, gamblingandmilitaryweapons All industries R50 million R100 million R5 million 6 General private equityandventure capital Company Open ended Adinah CapitalPartners www.adinah.com [email protected] [email protected] +27 112685929 Zeyn AngamiaTony Ruiter Johannesburg 1 BompasRoad,3rd Floor,West Wing,Dunkeld West , 4 6 46931 Independent 2013 Name ofFund Minimum investment Name offund Year fundstarted Geographical Preference Minimum/Maximum EquityTaken Investment StagesExcluded Investment StagePreference Industries Excluded Industry Preference Maximum Investment Minimum Investment No. ofPortfoliocompanies Nature offund Fund structure Committed Capitaloffund Geographical preferences Minimum andmaximumequityusuallytaken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Maximum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumber Regulatory Type offundmanager FUND 2DETAILS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS South Africa,SADC, West Africa South Africa,SADC, West Africa 15% /100% Startup Growth, Mature Primary mining,primaryagriculture Business Services,Healthcare, Education Consumer, Industrial,Manufacturing, Hospitality,Energy, ZAR 500million ZAR 50million 0 10-years Captive ZAR 3.000million Africa LighthouseCapitalSouth Botswana, SADC, West Africa 15% /100% Startup Growth, Mature Primary mining,primaryagriculture Telecommunications, Healthcare, Education Consumer, Industrial,Infrastructure, FinancialServices, BWP 150million BWP 30million 0 10-years GP/LP BWP 500million Africa LighthouseCapitalFundI [email protected] +27 785137714 Bame Pule 2nd Commercial Road,CBD,Gaborone, Botswana 2nd Floor,FirstCapitalHouse,MashatuTerrace ,Plot74768, 4 0 49099 Independent, Black 2018 Africa LighthouseCapital

29 Africa Lighthouse Capital FULL MEMBER African Rainbow Capital Agile Holdings FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2009 Year fund started 2016 Type of fund manager Captive Type of fund manager Captive Total number of investments to date 14 Number of investment executives 4 Total number of investments to date Manage various on-balance sheet investments on behalf of the Aveng Group Principal office address 386 Main Road, Bryanston Key contact person and designation Tshego Sefolo; Londeka Shezi Number of investment executives 6 Telephone +27 11 217 3300 FULL MEMBER Principal office address Block A, Cullinan Place, 2 Cullinan Close, Morningside, Sandton, E-mail [email protected] FULL MEMBER 2146 Website www.agilecapital.co.za Key contact person and designation Brenda Matyolo FUND DETAILS Name of fund Zico Capital Fund I Committed capital of fund R500 million Telephone 10 205 1001 Fund structure Capital raised from third parties, captive fund, fund of fund, E-mail [email protected] investment holding company, etc Website http://www.aveng.co.za/operations/aveng-capital-partners Nature of fund Leveraged-buy-out, growth capital, expansion capital Number of portfolio companies 7 INVESTMENT PREFERENCES FUND DETAILS Minimum investment R20 million Name of fund South African Energy & Infrastructure Fund Maximum investment R200 million Average current investment size R75 million Committed capital of fund Fund formation stage Industry preference All industries Fund structure En commandite partnership Industries excluded Resources, agriculture & properties Nature of fund Secondary market energy and infrastructure fund Investment stage preference Expansion stage, growth capital, expansion capital, later-stage capital, buy-outs, partial buy-outs, leveraged buy-outs Investment stages excluded Start up INVESTMENT PREFERENCES Minimum and maximum equity usually taken 20% to 80% Minimum investment R50 million Geographical preferences South Africa Maximum investment R300 million FUND DETAILS Name of fund Zico Capital Fund II Average current investment size 0 Committed capital of fund R500 million Industry preference Renewable Energy, Infrastructure Fund structure Company Industries excluded All other, except renewable energy and infrastructure Nature of fund Expansion stage, growth capital, expansion capital, later-stage capital, buy-outs, partial buy-outs, leveraged buy-outs Investment stage preference Operational / In construction Number of portfolio companies 4 Investment stages excluded None INVESTMENT PREFERENCES Minimum and maximum equity usually taken 10 - 49% Minimum investment R20 million Maximum investment R200 million Geographical preferences South Africa Average current investment size R85 million Industry preference All industries REMARKS Industries excluded Resources, agriculture & properties Investment stage preference Expansion stage, growth capital, expansion capital, later-stage Aveng Capital Partners is the investment and structured fi nancing arm of Aveng. The company focuses on capital, buy-outs, partial buy-outs, leveraged buy-outs originating, developing, structuring and investing in general infrastructure, power and real-estate projects in South Africa and selective economies in Sub-Saharan Africa. Investment stages excluded Start up Minimum and maximum equity usually taken 20% to 80% Geographical preferences South Africa REMARKS Agile Capital the holding company of Zico Capital is a private equity company that is fast building an enviable reputation African Rainbow Capital Holdings Agile in the business community as a trusted investment partner, with solid operational and business development capabilities. We aim to participate in established companies whose strengths are measurable and are focused on contributing to future 30 wealth maximisation. 31 Agis Ventures African Infrastructure Investment Managers (South Africa) (Pty) Ltd FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2000 Type of fund manager Captive Type of fund manager Infrastructure Investment Manager Regulatory license number 45112 Regulatory license number FSP no. 4307 Total number of investments to date 42 Number of investment executives 3 Number of investment executives 38 Principal office address 2nd Floor, Vdara, 41 Rivonia Road, Sandhurst Principal office address The Oval, 1 Oakdale Rd, Newlands, Cape Town, South Africa Key contact person and designation Rolf Endres; Key contact person and designation Jurie Swart (CEO); Vuyo Ntoi (Investment Director, Southern and FULL MEMBER Nic Raubenheimer Central Africa); Paul Frankish (Investment Director, Strategic Initiatives) FULL MEMBER

Telephone +27 10 593 6440 Telephone +27 21 670 1234 E-mail [email protected] E-mail [email protected] Website www.aiimafrica.com Website www.agis-holdings.com FUND DETAILS Name of fund IDEAS Fund FUND DETAILS Committed capital of fund R14 960 million Fund structure Capital raised from third parties Fund structure Holding Company Nature of fund Unlisted open ended infrastructure fund Nature of fund SME Growth Number of portfolio companies 32 INVESTMENT PREFERENCES INVESTMENT PREFERENCES Minimum investment R150 million Maximum investment R780 million Minimum investment R1 million Average current investment size R215 million Maximum investment R7 million Industry preference Infrastructure focused on renewable energy Industry preference Consumer Facing Industries excluded Weapons, tobacco, alcohol and radioactive materials Industries excluded All other, except renewable energy and infrastructure Investment stage preference Greenfield and brownfield / secondaries Minimum and maximum equity usually taken Minority or majority Investment stage preference Growth and Expansion Capital Geographical preferences SADC Region Investment stages excluded Early stage VC FUND DETAILS Geographical preferences South Africa Name of fund African Infrastructure Investment Fund Committed capital of fund R1 320 million Fund structure Capital raised from third parties REMARKS Nature of fund Unlisted infrastructure fund - fully invested Agis combines strategy advice, operational support and growth capital to create value for its clients in Africa. Number of portfolio companies 6 It operates via two separate business units: INVESTMENT PREFERENCES Minimum investment R150 million • Agis Ventures funds growth equity in small companies that are seeking expansion capital enabled by best-in-class growth strategy. Maximum investment R300 million Average current investment size R200 million • Agis Strategy provides strategy consulting services to investors, companies, and funds seeking aggressive, Industry preference Infrastructure market disruptive growth. For private equity clients, these services include commercial due diligences, Industries excluded Weapons, tobacco, alcohol and radioactive materials portfolio company strategy, and exit grooming Investment stage preference Greenfield and brownfield / secondaries Minimum and maximum equity usually taken Significant minority/ majority Geographical preferences Sub-Saharan Africa FUND DETAILS Name of fund Kagiso Infrastructure Empowerment Fund Committed capital of fund R529 million Fund structure Capital raised from third parties

Agis Ventures Agis Nature of fund Unlisted infrastructure fund – fully invested Managers (South Africa) (Pty) Ltd Investment African Infrastructure Number of portfolio companies 5 32 33 Continued on page 34 African Infrastructure Investment Managers (South Africa) (Pty) Ltd Ascension Capital Partners

INVESTMENT PREFERENCES FUND MANAGER DETAILS Minimum investment R100 million Year fund started 2018 Maximum investment R150 million Type of fund manager Private Equity Average current investment size R120 million Industry preference Infrastructure Regulatory license number 49055 Industries excluded Weapons, tobacco, alcohol and radioactive materials Total number of investments to date R112 million Investment stage preference Greenfield and brownfield / secondaries Number of investment executives 3 FULL MEMBER FULL MEMBER Minimum and maximum equity usually taken Significant minority/ majority Principal office address 1240 John Vorster Drive, Irene, Centurion Geographical preferences Sub-Saharan Africa Key contact person and designation Sipho Madalane FUND DETAILS Name of fund Africa Infrastructure Investment Fund 2 Telephone +27 87 357 9750 Committed capital of fund R3 644 million E-mail [email protected] Fund structure Capital raised from third parties Website www.ascensioncapitalpartners.co.za Nature of fund Unlisted infrastructure fund – fully invested Number of portfolio companies 8 FUND DETAILS INVESTMENT PREFERENCES Name of fund Ascension Private Equity Fund Minimum investment R200 million Maximum investment R900 million Committed capital of fund R122 million Average current investment size R500 million Fund structure En commandite partnership (limited liability partnership) Industry preference Infrastructure Nature of fund Private Equity Funds (sector agnostic) Industries excluded Weapons, tobacco, alcohol and radioactive materials Number of portfolio companies 4 Investment stage preference Greenfield and brownfield / secondaries Minimum and maximum equity usually taken Significant minority/ majority Geographical preferences Sub-Saharan Africa INVESTMENT PREFERENCES FUND DETAILS Minimum investment R10 million Name of fund Apollo Investment Partnership II Maximum investment R80 million Committed capital of fund R444 million Average current investment size R28 million Fund structure Capital raised from third parties Industry preference n/a Nature of fund Unlisted renewable infrastructure fund – fully invested Number of portfolio companies 1 Industries excluded Primary mining and primary agriculture unless consent is obtained. INVESTMENT PREFERENCES Investment stage preference Expansion stage Minimum investment R100 million Investment stages excluded Seed and startup capital Maximum investment R400 million Minimum and maximum equity usually taken Minimum - R10 million Average current investment size R200 million Maximum - R80 million Industry preference Infrastructure Geographical preferences South Africa Industries excluded Weapons, tobacco, alcohol and radioactive materials Investment stage preference Greenfield and brownfield / secondaries Minimum and maximum equity usually taken Significant minority/ majority Geographical preferences South Africa REMARKS AIIM offers extensive strategic, commercial, operational and financial experience in infrastructure investment management across the African continent. AIIM’s investment team has, collectively, in excess of 400 years of experience in infrastructure asset investment and operation. AIIM identifies quality infrastructure investment opportunities throughout Africa, applying a disciplined and focused approach to the investment management African Infrastructure Investment Managers (South Africa) (Pty) Ltd Investment African Infrastructure Ascension Capital Partners process. AIIM seeks to deliver superior risk-adjusted returns for investors, and tangible, long-term value for African communities. 34 35 Ashburton Fund Managers (Proprietary) Limited ASOC Management Company

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2014 Year fund started 2016 Type of fund manager Independent Type of fund manager Special Situations Regulatory license number FSP number 40169 Total number of investments to date 3 Total number of investments to date 5 Secondary fund investments Number of investment executives 3 Number of investment executives 5 Principal office address 4 Merchant Place, 1 Fredman Drive, Sandown, Sandton, 2196 Principal office address 33 Bell Crescent, Westlake Business Park, Westlake, Cape Town FULL MEMBER FULL MEMBER Key contact person and designation Juan Coetzer; Denise Pillay Key contact person and designation Shaun Collyer; Telephone +27 11 282 8800 Paul Birkett E-mail [email protected] Telephone +27 82 957 7416 Website www.ashburtoninvestments.com E-mail [email protected] FUND DETAILS Website www.asocapital.com Name of fund Ashburton Private Equity Fund 1 Committed capital of fund R500 million FUND DETAILS Fund structure Limited Liability Partnership Name of fund ASOC Fund I Nature of fund Leveraged-buy-out, growth capital, expansion capital Committed capital of fund R205 million Number of portfolio companies Invested in 33 underlying portfolio companies Fully and partially exited: 8 Fund structure Partnership INVESTMENT PREFERENCES Nature of fund Specialist Minimum investment R30 million Number of portfolio companies 3 Maximum investment R100 million INVESTMENT PREFERENCES Industry preference Any Industries excluded Resources, primary agriculture, venture capital, Minimum investment R30 million turnaround strategies and property Maximum investment R60 million Investment stage preference Buy-outs, partial buy-outs, leveraged buy-outs Average current investment size R50 million Investment stages excluded Venture capital Industry preference Generalist other than primary mining/extractive, primary agriculture, Geographical preferences South Africa and up to 35% Africa (excl. South Africa) real estate development Investment stage preference: Distressed FUND DETAILS and special situations Name of fund Ashburton Mezzanine Fund I Investment stage preference Primary mining/extractive, primary agricultural, real estate Committed capital of fund R507.5 million development Fund structure Limited Liability Partnership Investment stages excluded Early stage, VC Nature of fund Mezzanine Debt Fund Geographical preferences Southern Africa INVESTMENT PREFERENCES Minimum investment R75 million REMARKS Maximum investment R200 million ASOCapital seeks to provide companies with flexible funding solutions, to facilitate necessary restructuring and Average current investment size R125 million recapitalisation. Industry preference Any Industries excluded Primary agriculture, primary commodities, venture capital and turnaround strategies Investment stage preference Mature Investment stages excluded Seed capital, venture capital Minimum and maximum equity usually taken 0% - 40% Geographical preferences South Africa, Namibia, Botswana, Zambia Ashburton Fund Managers (Proprietary) Limited Fund Managers (Proprietary) Ashburton Management Company ASOC

36 37 Ata Capital (Pty) Ltd Athena Capital (Pty) Ltd

FUND MANAGER DETAILS FUND MANAGER DETAILS

Year fund started 2012 Year fund started 2011 Type of fund manager Independent Type of fund manager Private Equity Regulatory license number 46869 Regulatory license number FSP No. 43695 Total number of investments to date 11 Total number of investments to date 6 Number of investment executives 4 Number of investment executives 6 FULL MEMBER

FULL MEMBER Principal office address 9th Floor, 90 Grayston Drive, Sandown, Sandton, 2196 Principal office address 1st Floor, Fernwood House, The Oval, 1 Oakdale Road, Key contact person and designation Maredi Mampuru; Nontokozo Luthuli Newlands, 7700 Telephone +27 11 321 1636 E-mail [email protected] Key contact person and designation Jonathan Heinamann; Anton Newbury Website www.atacapital.co.za FUND DETAILS Telephone +27 21 657 3810 Name of fund Ata Fund I E-mail [email protected] Committed capital of fund R473 million Website www.athenacapital.co.za Fund structure Partnership Nature of fund BEE Equity FUND DETAILS Number of portfolio companies 5 Name of fund AIH Limited INVESTMENT PREFERENCES Committed capital of fund US$75 million Maximum investment R60 million Average current investment size R50 million Fund structure Limited Partnership Industry preference Various Nature of fund Sub-Sahara African Private Equity Investment stage preference Growth, replacement capital, buy-out Number of portfolio companies 5 Investment stages excluded Start-up Geographical preferences South Africa INVESTMENT PREFERENCES FUND DETAILS Minimum investment US$5 million Name of fund Ata Fund II Maximum investment US$50 million Committed capital of fund R593 million Fund structure Partnership Average current investment size US$9 million Nature of fund BEE Equity Industry preference Fast moving consumer goods, financial services, business services Number of portfolio companies 6 Investment stage preference Expansion, buy-out and post-revenue stage investments INVESTMENT PREFERENCES Minimum and maximum equity usually taken Significant minority to 100% Maximum investment R125 million Geographical preferences South Africa, Mozambique, Tanzania, Kenya, Ethiopia, Average current investment size R60 million Zambia and Ghana Industry preference Various Investment stage preference Growth, replacement capital, buy-out REMARKS Investment stages excluded Start-up Athena Capital is an experienced Sub-Saharan Africa private equity advisory team with an established track record Geographical preferences South Africa and a clear sectoral focus. Central to Athena Capital’s investment objectives and processes is the creation of REMARKS value within portfolio companies by providing in-depth operational and strategic support. Athena Capital targets The Funds focus on: investments in the fast moving consumer goods, financial services and business services sectors across its focal 1. Taking principal BEE equity positions; set of Sub-Sahara African countries. 2. Providing patient investment capital to BEE entities who have access to attractive investment opportunities; and

Ata Capital (Pty) Ltd Ata 3. Enabling the velocity of BEE capital by providing liquidity to BEE entities against their performing portfolio Capital (Pty) Ltd Athena investments and providing a market for BEE entities who wish to exit their portfolio investments.

38 39 Awethu Project Capital BFS Fund Manager

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2010 Year fund started 2010 Type of fund manager Independent Type of fund manager Unlisted Investment Manager Regulatory license number FSP47382 Regulatory license number 15/UIM/04 Total number of investments to date N$1.5 million Total number of investments to date 50+ Number of investment executives 2 Number of investment executives 5 Principal office address c/o Jan Jonker & Lazarett Street, Ausspannplatz, Windhoek, Namibia Principal office address 11 Kotze Street, Braamfontein, 2017 FULL MEMBER FULL MEMBER Key contact person and designation Zeyn Angamia; Tony Ruiter Key contact person and designation Jonathan Heinamann Telephone 26 461 388 600 Telephone +27 11 024 1606 E-mail [email protected] E-mail [email protected] Website www.namprofund.com.na Website www.awethuproject.co.za FUND DETAILS FUND DETAILS Name of fund The Namibia Procurement Fund I Name of fund sefa Awethu Youth Fund (sAYF) Committed capital of fund N$350 million Committed capital of fund R64 million Fund structure Trust Fund structure Company Nature of fund Procurement Debt Fund Nature of fund Micro-cap startup, growth & buyout capital Number of portfolio companies Approximately 60 Number of portfolio companies 40+ INVESTMENT PREFERENCES Minimum investment N$100 000 INVESTMENT PREFERENCES Maximum investment N$96 million Minimum investment R500 000 Average current investment size N$3 million Maximum investment R5 million Industry preference No Preferences Average current investment size R2 million Industries excluded Sectors that may cause environmental harm, Gambling & Ammunition Industry preference Various Minimum and maximum equity usually taken No equity take up but Fund Manager invest 1% and Investor Industries excluded Real Estate Participants invest 99% of capital commitment Investment stage preference Startup, Early, Growth Geographical preferences Namibia Investment stages excluded None FUND DETAILS Minimum and maximum equity usually taken 26% / 50% Name of fund The Namibia Procurement Fund II Geographical preferences South Africa Committed capital of fund N$250 million FUND DETAILS Fund structure Trust Name of fund SAB Thrive Fund Nature of fund Procurement Debt Fund Number of portfolio companies 4 Committed capital of fund R110 million INVESTMENT PREFERENCES Fund structure Company Minimum investment N$100 000 Nature of fund Supplier development fund Maximum investment N$96 million Number of portfolio companies 5 Average current investment size N$8 million INVESTMENT PREFERENCES Industry preference No Preferences Minimum investment R 1 million Industries excluded Gambling and manufacturers/ distributers of harmful products such Maximum investment R 25 million as tobacco and alcohol; Businesses that are harmful to or pollute the environment, or require resettlement of indigenous people, or Average current investment size R 11 million unethical industries (that bring disrepute to the Fund); Manufacturers Industry preference Commodities, Packaging, Logistics, Marketing, Other Services or traders in armaments; Speculative transactions such investing in Industries excluded Various derivatives or speculative commodity acquisition deals; Investing in 100 % non-Namibian owned businesses (at least 26 % Namibian Investment stage preference Startup, Growth ownership is required) Investment stages excluded None Minimum and maximum equity usually taken No equity take up but Fund Manager invest 1% and Investor Minimum and maximum equity usually taken 26% / 51% Participants invest 99% of capital commitment Awethu Project Capital Project Awethu BFS Fund Managers Geographical preferences South Africa Geographical preferences Namibia

40 41 Bopa Moruo Botswana Development Corporation (BDC)

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2013 Principal office address Fairscape Tower, Fairscape Precinct, Plot 70667, Fairgrounds Office Park Type of fund manager Independent Regulatory license number FSP47309 Key contact person and designation Modise Mokone; Oteng Keabetswe Total number of investments to date 4 Telephone +267 365 1300 Number of investment executives 4 FULL MEMBER FULL MEMBER E-mail [email protected] Principal office address 3 Exchange Square, 87 Maude Street, Sandton, 2196 Website www.bdc.bw Key contact person and designation Nthime Khoele Telephone +27 11 784 1740/1724 FUND DETAILS E-mail [email protected] Number of portfolio companies 41 Website www.bopamoruo.co.za

INVESTMENT PREFERENCES FUND DETAILS Minimum investment BWP30 million Name of fund Bopa Moruo Private Equity Fund I Maximum investment Up to 10% of NAV Committed capital of fund R300 million Average current investment size BWP60 million Fund structure Company Industry preference Agro-processing, Manufacturing, Infrastructure, Energy, Services, Nature of fund Growth/Buyout Healthcare, Education, Information Technology Number of portfolio companies 4 Industries excluded Capital intensive and NGO/non-profit organisations Investment stage preference Early stage, Expansion, Buyouts INVESTMENT PREFERENCES Investment stages excluded NGO, Primary Mining, Weapons and Ammunitions Minimum investment R25 million Minimum and maximum equity usually taken 26% - 49% Maximum investment R80 million Geographical preferences Sub-Saharan Africa Average current investment size R50 million Industry preference Services and Industrial Industries excluded Mining, Agriculture & Property Investment stage preference Later Stage Investment stages excluded Start-up; Turnaround Geographical preferences Southern Africa

REMARKS Bopa Moruo is a mid-market private equity firm with an established track record that is focused on generating long-term capital appreciation by building great businesses. Bopa Moruo is a 100% black-owned company founded by its current principals, who share extensive experience in professional investment execution and investment management gained at market leading South African and international private equity firms. Bopa Moruo invests growth capital, buyout/replacement capital and transformational capital in established industrial and services companies. Bopa Moruo Corporation (BDC) Botswana Development

42 43 Business Partners Limited Capitalworks Investment Partners FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 1981 Year fund started 2006 Type of fund manager Independent Type of fund manager Independent Regulatory license number NCRCP1796 Total number of investments to date 70624 Regulatory license number 45888; 45890; 45891 Number of investment executives 80 Total number of investments to date 10 Principal office address 37 West Street, Houghton Estate, Johannesburg, 2198 Number of investment executives 8 Key contact person and designation Christo Botes; Ben Biermann Principal office address 7th Floor, Capital Hill, 6 Benmore Road, Benmore, Sandton, 2010 FULL MEMBER FULL MEMBER Telephone Entrepreneurs Growth Centre at 0861 SMEFIN (763 346) and Key contact person and designation Chad Smart; Garth Willis +27 11 713 6600 Telephone +27 11 301 3000 E-mail [email protected] E-mail [email protected] Website www.businesspartners.co.za Website www.capitalworksip.com FUND DETAILS FUND DETAILS Name of fund General Fund Committed capital of fund R500,000-R50 million Name of fund Capitalworks Private Equity Fund I Fund structure Institutions (79%) and government (21%) - Private individuals, Committed capital of fund R1.5 billion listed and unlisted companies Fund structure Partnership Nature of fund General Nature of fund Management buy-out, growth capital, expansion capital Number of portfolio companies 1500 Number of portfolio companies 7 INVESTMENT PREFERENCES INVESTMENT PREFERENCES Minimum investment R500 000 Minimum investment R100 million Maximum investment R50 million Maximum investment R500 million Average current investment size R2,6 million Average current investment size R250 million Industry preference None Industry preference Any other than real estate or oil & gas exploration Industries excluded Primary agriculture and on-lending Investment stage preference All except Seed and Research & Development Industries excluded Real estate, oil & gas exploration Investment stages excluded Seed and Research & Development Investment stage preference Management buy-out, growth capital, expansion capital Minimum and maximum equity usually taken Normally minority shareholding Investment stages excluded Start-up, turnaround /restructuring Geographical preferences South Africa Minimum and maximum equity usually taken Significant minority or majority FUND DETAILS Geographical preferences South Africa and sub-Saharan Africa Name of fund Business Partners Ltd Venture Fund FUND DETAILS Committed capital of fund R400 million Name of fund Capitalworks Private Equity Fund II Fund structure Institutions (79%) and government (21%) - Private individuals, Committed capital of fund US$267 million listed and unlisted companies Fund structure Partnership Nature of fund SMEs who are in innovative industries and/or industries with high-growth potential Nature of fund Management buy-out, growth capital, expansion capital Number of portfolio companies 12 Number of portfolio companies 7 INVESTMENT PREFERENCES INVESTMENT PREFERENCES Minimum investment R 500 000 Minimum investment R150 million Maximum investment R10 million Maximum investment R700 million Average current investment size R2.6 million Average current investment size R320 million Industry preference None Industry preference Any other than real estate or oil & gas exploration Industries excluded Primary agriculture and on-lending Industries excluded Real estate, oil & gas exploration Investment stage preference All except Seed and Research & Development Investment stage preference Management buy-out, growth capital, expansion capital Investment stages excluded Seed and Research & Development Minimum and maximum equity usually taken Normally minority shareholding Investment stages excluded Start-up, turnaround /restructuring Geographical preferences South Africa Minimum and maximum equity usually taken Significant minority or majority REMARKS Geographical preferences South Africa and sub-Saharan Africa Business Partners Limited is a specialist risk fi nance company for formal small and medium enterprises (SMEs) in REMARKS

Business Partners Limited South Africa, and selected African countries. The company actively supports entrepreneurial growth by providing Partners (Pty) Ltd Capitalworks Investment Capitalworks seeks equity or equity-related investments in middle market companies in South Africa which can fi nancing, specialist sectoral knowledge, added-value services and premises for viable small and medium businesses. benefi t from strategic, operational, commercial or fi nancial investment strategy and philosophy is centred on building Visit www.businesspartners.co.za for more information. 44 exceptional business entrepreneurs and management teams. 45 Cinnabar Investment Management Coast2Coast Capital

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2019 Total number of investments to date 40 Type of fund manager Discretionary Fund Manager Number of investment executives 35 Regulatory license number 45402 Principal office address Block A, Silverwood, Steenberg Offi ce Park, Cape Town, South Africa (Cape Town offi ce); Total number of investments to date 0 22 Sloane Street, Bryanston, Johannesburg, South Africa Number of investment executives 5 (Johannesburg offi ce) FULL MEMBER FULL MEMBER Principal office address Ground Floor, Building 4, 150 Rivonia Office Park, Key contact person and designation Gary Shayne; Elsabe Tromp 150 Rivonia Road, Sandton, 2196

Key contact person and designation Greg Flash Telephone +27 21 701 2232 (Cape Town offi ce); Telephone +27 10 312 6127 +27 11 036 9400 (Johannesburg offi ce) E-mail [email protected] E-mail [email protected] Website www.cinnabarim.co.za Website www.c2c.co.za

FUND DETAILS FUND DETAILS Name of fund Exponential Venture Capital Limited Name of fund Coast2Coast Capital Committed capital of fund R6.7 million Committed capital of fund R5.2 billion Fund structure Limited Company Fund structure Own funds Nature of fund Section 12J Nature of fund Equity investments, 70%-100% buy-outs, MBOs Number of portfolio companies 5 Number of portfolio companies 30

INVESTMENT PREFERENCES INVESTMENT PREFERENCES Minimum investment R50 million (annual profi ts over R15 million) Minimum investment R100 000 Maximum investment R4 billion Maximum investment R5 million Average current investment size R100 million-R400 million Average current investment size Not yet deployed capital Industry preference Pharmaceuticals, complimentary medicines, personal care, health Industry preference Multi-industry and beauty, medical equipment and devices, agro-chemicals, garden Industries excluded As per Section 12J mandate chemicals, animal health, foods, consumer products, footwear and clothing, personal care products, home care products, fast moving Investment stage preference Revenue generating consumer goods and insurance Investment stages excluded Angel, start-up Industries excluded Mining, agriculture, technology Minimum and maximum equity usually taken 2% to 30.1% Investment stage preference Mature, 7-50 years in operation Geographical preferences South Africa as per Section 12J mandate Investment stages excluded Startup, early stage Minimum and maximum equity usually taken 70% to 100% with a 7 year minimum and no maximum investment horizon

Geographical preferences South Africa, Central and Eastern Europe and Australia

REMARKS Coast2Coast Capital is an active private equity fund which seeks to partner with management alongside quality investments. Coast2Coast Capital Cinnabar Investment Management Cinnabar Investment

46 47 48 Collins Private Equity FULL MEMBER Collins Private Equity sectors. to take acontrolling stake ifappropriate. Inaddition,wehave provided development capitalfinancinginhighgrowth between R50millionandR150million.Typicallywetake aminority stake inthebusiness.However, weare prepared Our preferred dealsare to partnerwithexperienced managementteams to financemedium-sized buy-outs valued Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Minimum investment Number ofportfoliocompanies Nature offund Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date Type offundmanager Year fundstarted REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS None 20% to 100% Development capitalandbuy-out None None R14 million R40 million Nil 3 Independent R250 million Collins Private Equity www.collinsgroup.co.za [email protected] +27 315368004 Kenneth Collins Bruce Chelius; 4320 1 RichefondCircle, RidgesideOfficePark,Umhlanga, 4 11 own,4follow-onand7portfolio Independent 2004 Minimum investment Name offund Minimum investment Name offund Yewar fundstarted Geographical preferences Minimum andmaximumequityusually taken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Maximum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Geographical preferences Minimum andmaximumequityusuallytaken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Maximum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumberRegulatory Type offundmanager availability ofcommunications, broadband services andnewtechnology offeringstoavailability the peopleofAfrica skills, experience andcapitalto accelerate ICT infrastructure development ontheContinent,focusing oninitiatives thatincrease as wellactively addingvalueto investments across thelifecycle ofICT assets. Asimpactinvestors, Convergence® bringsits underpinning Continental development. Convergence® hasaproven trackrecord ofdeveloping newinvestment opportunities Convergence Partnersisapan-AfricanICT–focused delivering private enhancedinvestment returns equityplayer, while REMARKS INVESTMENT PREFERENCES FUND DETAILS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS Sub-Saharan Africa 20% to 75% Start-up capital,buy-out Growth capital,later-stage Non-TMT TMT No maximum R5 million 11 Specialist Investment holdingcompany R1 billion Convergence PartnersInvestments (CPI) Sub-Saharan Africa 20% to 75% Start-up, earlystage capital,buy-out Growth capital,later-stage Non-ICT ICT US$30 million US$5 million 6 Growth capitalforICT infrastructure opportunitiesinAfrica related Third partyequityfund US$186.5 million Convergence PartnersCommunicationsInfrastructure Fund(CPCIF) www.convergencepartners.com [email protected] +27 115505320 Yolande Tabo; CraigBeney 3rd Floor,30JellicoeAve., Rosebank,2196,Johannesburg 9 22 44602 Independent 2006 Convergence Partners

49 Convergence Partners FULL MEMBER Development Bank of Southern Africa (DBSA) Development Partners International

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2007 Principal office address 1258 Lever Road, Headway Hill, Midrand, 1685 Type of fund manager Independent Key contact person and designation Hein Prinsloo; Regulatory license number FCA registration number: 4777782 Wanda Dickmann Total number of investments to date 13 Telephone +27 11 313 3466 Number of investment executives 10 E-mail [email protected] Principal office address 2nd Floor, Jubilee House, 2 Jubilee Place, London SW3 3TQ FULL MEMBER FULL MEMBER Key contact person and designation Takudzwa Mutasa Joanne Yoo Website www.dbsa.org Telephone +44 (0) 207 349 5030 E-mail [email protected] INVESTMENT PREFERENCES Website www.dpi-llp.com Industry preference Water, ICT, energy, transport & logistics FUND DETAILS Name of fund African Development Partners II Industries excluded Mining, hospitality & tourism and agriculture Committed capital of fund US$724 million Investment stage preference Early stage, development capital, expansion stage, growth capital, Fund structure Private equity expansion capital Nature of fund Growth capital, expansion capital Number of portfolio companies 8 INVESTMENT PREFERENCES Minimum investment US$10 million (R110 million) Maximum investment US$100 million (R850 million) Average current investment size US$40 million Industry preference Industries that benefit from emerging middle class Industries excluded Tobacco, gambling, alcoholic beverages (excluding beer and wine) Investment stage preference Expansion stage, growth capital, expansion capital Investment stages excluded Start up, early stage Minimum and maximum equity usually taken 10% to 100% Geographical preferences Pan-Africa FUND DETAILS Name of fund African Development Partners I Committed capital of fund US$400 million Fund structure Private equity Nature of fund Growth capital, expansion capital Number of portfolio companies 9 INVESTMENT PREFERENCES Minimum investment US$10 million (R110 million) Maximum investment US$75 million Average current investment size US$35 million Industry preference Industries that benefit from emerging middle class Industries excluded Tobacco, gambling, alcoholic beverages (excluding beer and wine) Investment stage preference Expansion stage, growth capital, expansion capital Investment stages excluded Start up, early stage Minimum and maximum equity usually taken 10% to 100% Geographical preferences Pan-Africa REMARKS DPI is a US$1.1 billion Africa-focused private equity fi rm that invests in companies benefi ting from the fast-growing emerging middle class in Africa. DPI’s investment process combines rigorous analysis with comprehensive due diligence. The fi rm seeks out compelling investment opportunities and aims to obtain exclusive terms, rational pricing Development Bank of Southern Africa (DBSA) Development LLP Partners International Development and strong infl uence. The investment philosophy places great importance on working closely with the funds’ portfolio companies to create value while looking for attractive exit opportunities throughout the funds’ investment period. 50 51 52 Edge Growth FULL MEMBER Edge Growth Maximum Minimum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date Type offundmanager Year fundstarted Geographical preferences Minimum andmaximum equityusuallytaken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Minimum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Name offund Geographical preferences Minimum andmaximumequityusuallytaken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Average current investment size INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS INVESTMENT PREFERENCES FUND DETAILS

investment R2 million 16 Growth capitalforSMEs Capital raisedfrom third parties R388 million Enterprise Development Fund Vumela www.edgegrowth.com [email protected] +27 100013715 Richard Chapman Richard Rose; 10th Road(off2ndAve.), Hyde Park OfficePark,1st Floor,BlockB,Investment Place 21 47 Independent 2007 Republic ofSouth Africa Up to 49%equity R&D, Seed,Angel Growth Stage Direct mining,property, arms,tobacco, alcohol Suppliers to theFinancialServicesSector R7 million R30 million R1 million 15 Mezzanine &Equity Trust R354 million ASISA Enterprise Development Fund Republic ofSouthAfrica Up to 49% R&D, Seed,Angel Early stage,expansion stage,growth capital Direct mining,agriculture, property, arms,tobacco No preference, ifjobcreation isevident R12 million R20 million services, andinfrastructure/logistics. regions ofthecontinentandacross awidevarietyof sectors includingconsumerbusinesses, telecoms, fi nancial and over 40exits through seven funds. We have putourinvestors capitalto workinover 40countriesinallmajor Founded in2000,ECPwasoneofthefi rst rmsdedicated into toAfricawhich, today,translates over 60investmentsfi ECP isaPan-Africanprivate equityfi rmthathas raisedover US$3billionforinvestment across theAfrican continent. Minimum investment Name offund Year fundstarted Geographical preferences Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Number ofportfoliocompanies Nature offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date Type offundmanager REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS Pan-Africa Venture capital Expansion anddevelopment list) Arms andammunition,tobacco, gaming&alcohol(IFCexclusion Telecommunications and FinancialServices Consumer goods,infrastructure andlogistics,ICT and US$45-US$75 million US$100 million US$30 million 6 Pan-African growth ECP AfricaFundIIIandIV www.ecpinvestments.com [email protected] [email protected]; +27 116850835 Renschke Volschenk Alex-Handrah Aime; 2 MaudeStreet, Sandton ,Johannesburg 2196 Emerging CapitalPartners,8thFloor,The ForumBuilding, 27 64 Independent 1999 Emerging CapitalPartners

53 Emerging Capital Partners FULL MEMBER Enablis Financial Corporation SA Eos Capital

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2014 Year fund started 2015 Type of fund manager Independent Type of fund manager Unlisted Investment Manager Regulatory license number FSP 15240 Total number of investments to date 69 Regulatory license number 20140698 Number of investment executives 1 Total number of investments to date 5 Principal office address PO Box 2287, Cape Town, 8000 Number of investment executives 5 FULL MEMBER FULL MEMBER Key contact person and designation Ebenise Bester Principal office address Nelson Mandela House, cnr Arians and Nelson Mandela Ave, Telephone +27 21 462 4486 Klein Windhoek E-mail [email protected] Website www.enablis.org Key contact person and designation Emmarentia Irion Telephone +264 61 304 400 FUND DETAILS E-mail [email protected] Name of fund Khula Enablis Loan Fund (Investment period ended) Committed capital of fund R40 million Website www.eoscapital.com.na Fund structure Trust Nature of fund Loan guarantee fund FUND DETAILS Number of portfolio companies 4 Name of fund Allegrow Fund INVESTMENT PREFERENCES Committed capital of fund N$461 million Minimum investment R100 000 Fund structure Company Maximum investment R5 million Average current investment size R1 million Nature of fund Buyout/Growth Capital Industry preference SME Number of portfolio companies 5 Industries excluded Illegal activities, alcohol, tobacco, gambling, firearms Investment stage preference Early stage expansion and expansionary finance INVESTMENT PREFERENCES Geographical preferences South Africa Minimum investment N$10 million FUND DETAILS Maximum investment N$ 90 million Name of fund Khula Enablis SME Acceleration Fund (Investment period ended) Committed capital of fund R50 million Average current investment size N$36 million Fund structure Trust Industry preference Consumer Products/Financial Services/ICT/General Industrial Nature of fund Equity fund Industries excluded Mining/Agriculture/Real Estate/Energy Generation/Fishing Number of portfolio companies 4 Investment stage preference Mature INVESTMENT PREFERENCES Geographical preferences Namibia Minimum investment R25 000 Maximum investment R2.5 million Average current investment size R1 million Industry preference SME Industries excluded Illegal activities, alcohol, tobacco, gambling, firearms Investment stage preference Early stage expansion Minimum and maximum equity usually taken 26% to 49% where applicable Geographical preferences South Africa

REMARKS We provide early-stage and expansionary finance for SMEs with access to capital, in conjunction with intensive

Enablis Financial Corporation SA business support programmes through a non-profit organisation. Eos Capital

54 55 Ethos Private Equity Ethos Private Equity

FUND MANAGER DETAILS FUND DETAILS Year fund started 1984 Name of fund Ethos Fund V Type of fund manager Independent Committed capital of fund R5.7bn Regulatory license number FSB Licence No: 9254 Fund structure Third-party, blind-pool fund. Ethos' investor base comprises leading global and South African institutions Total number of investments to date 106 Number of investment executives 31 investment professionals Nature of fund Buy-out, growth capital, expansion capital FULL MEMBER FULL MEMBER Principal office address 35 Fricker Road, Illovo, Sandton, 2196 Number of portfolio companies Total: 11 including exited investments Key contact person and designation Chelsea Wilkinson; INVESTMENT PREFERENCES Arlene Byrne Minimum investment Fund VI: R1.5 billion Telephone +27 11 328 7400 Maximum investment Fund VI: R3 billion and greater in consortium E-mail [email protected]; Email deal opportunities to: [email protected] Industry preference Industrials, consumer, telcos, manufacturing and business services

Website www.ethos.co.za Industries excluded Mining, gambling and equivalent enterprises, greenfield, brownfield Investment stage preference Market leading businesses and selective growth capital opportunities

FUND DETAILS Investment stages excluded Start-ups Name of fund Fund VI Geographical preferences South Africa and selectively in the rest of sub-Saharan Africa Committed capital of fund R8.3 billion FUND DETAILS Fund structure Third-party, blind-pool fund. Ethos' investor base comprises Name of fund Ethos Mid Market Fund I leading global and South African institutions Committed capital of fund R2.5 billion Nature of fund Buy-out, growth capital, expansion capital Fund structure Third-party, blind-pool fund. Ethos' investor base comprises Number of portfolio companies Fund VI: 10 portfolio companies leading global and South African institutions

Nature of fund Buy-out, growth capital, expansion capital INVESTMENT PREFERENCES Number of portfolio companies EMMFI: 6 portfolio companies Minimum investment Fund VI: R1.5 billion Maximum investment Fund VI: R3 billion and greater in consortium INVESTMENT PREFERENCES Industry preference Industrials, consumer, telcos, manufacturing and business services Minimum investment R500 million Industries excluded Mining, gambling and equivalent enterprises, greenfield, brownfield Maximum investment R1.5 billion Investment stage preference Market leading businesses and selective growth capital opportunities Industry preference Industrials, consumer, telcos, manufacturing and business services Investment stages excluded Start-ups Industries excluded Mining, gambling and equivalent enterprises, greenfield, brownfield Geographical preferences South Africa and selectively in the rest of sub-Saharan Africa Investment stage preference Market leading businesses and selective growth capital opportunities Investment stages excluded Start-ups Geographical preferences South Africa and selectively in the rest of sub-Saharan Africa

REMARKS Ethos is a leading South African private equity investor currently investing Ethos Fund VI, with R8.3 billion of committed capital. Ethos distinguishes itself in the local market by combining financial discipline with value- enhancing strategies, in partnership with portfolio company management teams. This approach has resulted in an enviable track record of superior returns over our +34-year history. To date, we have made 106 investments

Ethos Private Equity Ethos Private and successfully exited 96. Ultimately, we build better businesses. www.ethos.co.za Equity Ethos Private

56 57 58 Espin Capital FULL MEMBER Espin Capital time horizons. with itsbusinesspartners.EspinCapital doesnothave anypressures to exit investments withinpredetermined companies. Asalongterm investor, EspinCapitalseeksto establish longterm, mutuallybeneficialrelationships investments, EspinCapital’s BEEcredentials facilitate theseamlessintroduction ofBEEpoliciesatitsinvestee womenowned.Withsustainabilityandgrowth beingkeyowned entityand60%black focusareas ofthefirm’s access to acquisitionandgrowth capitalforbusinessesthatare lookingto grow. Espin Capitalisa100%black niche market, goodgrowth prospects andformidable managementteams. EspinCapital isableto provide The firminvests incashgenerative businessesinSouthAfricaandSub-Saharanthathave aclearlydefined Espin CapitalPrivate EquityisaSouthAfricanbasedmid-market private equityfirmthatwasfoundedin2015. Geographical preferences Minimum andmaximumequityusuallytaken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Minimum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Total numberofinvestments to date Type offundmanager Year fundstarted REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS South Africa 20% to 90% Start up,Venture Capital CapitalandAcquisition Replacement BEE, ExpansionCapital,Growth Capital,LBO,MBO,MBI, Primary Mining,Agriculture &Property All industries R50 millionto R150million R1000 million(R1billion) R20 million 1 Leveraged EquityPortfolio,Growth Capital,ExpansionCapital Captive Fund&Investment Holding Espin CapitalPrivate EquityFund2018(Pty)Ltd www.espincapital.co.za [email protected] +27 837372983 Olwethu Mafanya 1 Captive Fund 2018 R500 million Minimum investment Name offund Year fundstarted Geographical preferences Minimum andmaximumequityusuallytaken Investment StagesExcluded Investment stagepreference Industry preference Average current investment size Maximum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumberRegulatory Type offundmanager INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS GAIA FundManagers(Pty)Ltd Southern Africa N/A Project development Operational andnearoperationalassets Energy, road infrastructure, water andsanitation N/A N/A R50 million N/A Specialist -OpenEnded Partnership Fund openforcapitalraising GAIA Infrastructure EquityFund(LaunchedinOctober 2015) www.gaiafm.co.za [email protected] +27 216717210 Mich Nieuwoudt,ManagingDirector 37 Vineyard 7708 Road,Claremont, 4 0 FSP46028 Independent 2015

59 GAIA Fund Managers (Pty) Ltd FULL MEMBER Global Capital Grindrod Private Equity

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2011 Year fund started 2011 Total number of investments to date Private equity 14; Type of fund manager Captive Venture capital 1 Total number of investments to date 5 Number of investment executives 6 Number of investment executives 4 Principal office address 21 West Street, Houghton, 2198 Principal office address Grindrod Tower, 4th Floor, 8A Protea Place, Sandton, 2196 FULL MEMBER FULL MEMBER Key contact person and designation Ori Shoshan Key contact person and designation Chesray Abrahams; Telephone +27 11 728 0255 Aris Malliaros E-mail [email protected] Telephone +27 11 459 1879 Website www.glocapital.com E-mail [email protected] Website www.grindrodbank.co.za FUND DETAILS Name of fund Global Capital Fund No. 4 FUND DETAILS Fund structure Partnership Name of fund Grindrod Private Equity Nature of fund Private Equity, Expansion/Acquisition, MBOs, LBOs Committed capital of fund R100 million Number of portfolio companies 13 Nature of fund General private equity, growth capital

INVESTMENT PREFERENCES Number of portfolio companies 3 Minimum investment R50 million Maximum investment No limit INVESTMENT PREFERENCES Industry preference None Minimum investment R20 million Industries excluded Direct Mining Maximum investment R50 million Minimum and maximum equity usually taken 25.1% to 100% Average current investment size R20 million Geographical preferences South Africa Industry preference No preference Industries excluded Primary mining, Primary agriculture FUND DETAILS Investment stage preference Refer below Name of fund Global Capital Australia Investment stages excluded Start-up, turn-around Nature of fund Private Equity, Expansion Capital, MBOs, LBOs Minimum and maximum equity usually taken 20% to 49% Number of portfolio companies 2 Geographical preferences South Africa

INVESTMENT PREFERENCES REMARKS Industries excluded Direct Mining Launched in January 2011, Grindrod Private Equity is the captive private equity arm of Grindrod Financial Services. Geographical preferences Australia The fund generally focuses on equity type investments in established, well managed small to mid-market companies with a track record of profits and cash generation. The diverse and experienced investment team is able to leverage REMARKS off Grindrod Bank’s corporate finance advisory, capital markets and investment banking divisions to advise and Global Capital operates as an investment partner with no defined exit term. Occupying positions on the board, structure investment deals tailored to the specific needs of each investment opportunity. Global plays a strategically active role in each of its investments, providing the experience and network of contacts to help take the company to the next stage of its development. It views each investment as a partnership and as such there must be a cultural fit. Global acts swiftly, avoiding common bureaucracy, and maximises all opportunities to ensure that no opportunities are missed. Global Capital Equity Private Grindrod

60 61 62 GrovestFULL MEMBER Venture Capital Company Limited FULL MEMBER Grovest Venture CapitalCompanyLimited the SARS approved Section12Jtaxdeduction. provides onewithadiversified investment inSouthAfricanPrivate Companieswhilstminimisingtheriskthrough of SARS, whichallowsinvestors to deduct 100%oftheirinvestment inGrovest from theirtaxableincome. Grovest Industry experts withover 100 years experience. GrovestFundformedunder the auspices isasection12JVCC Grovest ismanagedbyVenture The Managementteam CapitalManagementServices(VCMS). comprises VCMS Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Minimum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumberRegulatory Type offundmanager Year fundstarted REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS South Africa Investment dependant Early stage,development capital,expansion stage,growth capital Property, mining,agriculture, arms,tobacco, gaming&alcohol Diversified R3 million million R10 R3 million 4 Early Stage,development capital,growth capital,expansion capital Capital raisedfrom third partiesandDirectors Raising R100million Grovest Venture CapitalFund www.grovest.co.za [email protected] +27 112626433 Sthembiso Zwane Marc Brummer; Street,Katherine PinmillOfficePark,Building2,SecondFloor,Sandton 4 10 44303 VCC 2013 meaningful BEEownership. not beingaclosedendfundallowsus to managetheexit to maximize thebenefit to allstakeholders. The fundhas seeks to partnerwithcompetent management teams whoretain operationcontrol. Althoughan ultimate exit isrequired, across mostsectors. This typicallycomprisescompanies withanenterprise valueofR10million -R100million.The fund Growth CapitalPartnersisaboutiqueprivate equityfundthatfocusesonsmallto mediuminvestment opportunities Minimum investment Name offund Year fundstarted Geographical preferences Minimum andmaximumequityusuallytaken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumberRegulatory Type offundmanager REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS South Africa 20% /75% Venture Later stage Mining andprimaryagriculture General R10 million-R15 R25 million R5 million 3 Buyout /expansion /mezzanine Company R100 million Growth CapitalPartnersFund www.growthcapital.co.za [email protected] +27 115134049 Ron denBesten Tim Page; The BusinessCentre, DesignQuarter, Bryanston 2 3 46931 Independent 2014

Growth CapitalPartners

63 Growth Capital Partners FULL MEMBER 64 GrowthFULL MEMBER Grid Venture Capital Partners (Pty) Ltd FULL MEMBER Growth GridVenture CapitalPartners and postinvestment support. entrepreneurs byproviding themwithpermanentgrowth capital,mentorship, commercial networks,market access and inclusive economicgrowth in SA bysupporting SME’s.The fundsources andaccelerates thebesthigh-impact Grid Venture CapitalPartners isas12Jregistered venture sustainable capitalcompany withavisionto stimulate Geographical preferences Minimum andmaximumequityusuallytaken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Minimum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumberRegulatory Type offundmanager Year fundstarted REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS Western Cape 5% -49% pre revenue early growth, postrevenue S12J Impermissables Agnostic R3.5 million R8 million R3 million 5 s12J Venture CapitalFund,ClosedFund s12J R44.25 million Growth Grid www.growthgrid.co.za [email protected] +27 832824643 +27 217610915 Roy Fine 298 MainRd,Kenilworth, CapeTown 9 5 No:0037 VCC FSP No:469777 Reg No:2015/315542/07 Management withinFund 2017 Based on the success of its first inaugural fund, Harith launched PAIDFBased onthesuccess ofitsfirstinauguralfund,Harithlaunched 2in2014. in diversified sectors suchasenergy, transportand information,communicationandtelecommunications. African Infrastructure Development Fund (PAIDF). The US$630mfundisinvested inanumberofmajorprojects continent. Basedin SouthAfrica,HarithmanagesAfrica’s firstandonly15-year infrastructure fund,thePan Harith GeneralPartnersistheleading Pan-Africanfundmanagerforinfrastructure development across the Minimum investment Name offund Minimum investment Name offund Year fundstarted Geographical preferences Minimum andmaximumequityusually taken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumberRegulatory Type offundmanager REMARKS INVESTMENT PREFERENCES FUND DETAILS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS Pan African 20% to 75% Project Development, Acquisitions Greenfield infrastructure, growth capital,expansion capital Arms, liquor,gamblingandchildlabour Energy, transport,telecoms, water, sanitationandhealth US$30 million US$44 million US$10 million 4 Greenfield infrastructure andexpansion capital Parallel Funds(SA Partnership&MauritiusCompany) US$439 million Pan AfricanInfrastructure Development Fund2 Pan African 20% to 49%(minority) Greenfield infrastructure, growth capital,expansion capital Arms, liquor,gamblingandchildlabour Energy, transport,telecoms, water, sanitationandhealth US$50 million US$100 million US$20 million 9 Greenfield infrastructure andexpansion capital Capital raisedfrom third parties US$630 million Pan AfricanInfrastructure Development Fund www.harith.co.za [email protected] +27 113844000 Pule Molebeledi;Virginia DeUjfalussy Road,Sandton, 2146 Harith GeneralPartners,No1Chislehurston, 34Impala 12 13 FSB 31473 Independent 2007 Harith GeneralPartners

65 Harith General Partners FULL MEMBER HAVAIC Holdings South Africa Pty LTD Heritage Capital

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2016 Year fund started 2017 Type of fund manager VC Type of fund manager Independent Total number of investments to date 10 Regulatory license number 45848 Number of investment executives 4 Total number of investments to date 0 Principal office address Cube WS, The Pavillion, V&A Waterfront, Cape Town Number of investment executives 2 FULL MEMBER FULL MEMBER Key contact person and designation Ian Lessem Principal office address The Place, 1 Sandton Drive, Sandton, 2196 Telephone 211403569 Key contact person and designation Philile Hlengiwe; Kedibone Imathiu E-mail ian Lessem Telephone +27 10 594 4708 Website www.havaic.com E-mail [email protected] Website www.heritagecapitalpartners.co.za FUND DETAILS Name of fund GP LP FUND DETAILS Nature of fund VC Name of fund Heritage Capital Fund I Number of portfolio companies 10 Committed capital of fund R500 million Fund structure Partnership INVESTMENT PREFERENCES Nature of fund Growth and expansion funding Minimum investment R1 million Number of portfolio companies 0 Maximum investment R20 million Average current investment size R5 million INVESTMENT PREFERENCES Industry preference Tech Minimum investment R30 million Investment stage preference Pre- Series A Maximum investment R100 million Minimum and maximum equity usually taken 1%; 25% Average current investment size 0 Geographical preferences Africa Industry preference Industrial, consumer brands and services Industries excluded Mining, Agriculture, Property Investment stage preference Sustainable and profi table Investment stages excluded Venture capital Minimum and maximum equity usually taken Minimum: 10% Maximum: 80% Geographical preferences Southern Africa HAVAIC Holdings South Africa PTY LTD HAVAIC Heritage Capital

66 67 iCubed Capital (Pty) Limited IDF Capital

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2008 Year fund started 2012 Type of fund manager Independent Type of fund manager VCC Regulatory license number 33416 Total number of investments to date 3 Total number of investments to date 110 Number of investment executives 3 Number of investment executives 3 Principal office address 33 Fricker Road, Illovo, Johannesburg Principal office address Greenacres Office Park, Cotswold House, Office 110, FULL MEMBER FULL MEMBER Barry Hertzog/Victory Road & Rustenburg Road, Victory Park, Key contact person and designation Polo Leteka; Boitumelo Mokolobate Johannesburg, 2195 Telephone +27 11 772 7900 E-mail [email protected] Key contact person and designation Ismail Kajee; Imraan Kajee Website www.idf.co.za FUND DETAILS Telephone +27 11 888 0027 Name of fund IDF 1 E-mail [email protected] Committed capital of fund R149 million Website www.icubedcapital.co.za Fund structure En Commandite Partnership Nature of fund Growth/Venture Capital Number of portfolio companies 76 FUND DETAILS INVESTMENT PREFERENCES Name of fund iCubed SME Investment Fund Minimum investment R250 000 Committed capital of fund R50 million Maximum investment R30 million Fund structure Private Equity shareholding Average current investment size R2 million Industry preference General Nature of fund Growth Capital, Expansion Capital Industries excluded Gambling, military, speculative real estate Number of portfolio companies 1 Investment stage preference Closed Investment stages excluded Pre-Revenue INVESTMENT PREFERENCES Minimum and maximum equity usually taken 5% - 49% Geographical preferences South Africa Minimum investment R50 000 FUND DETAILS Maximum investment R5 million Name of fund IDF II Average current investment size R500 000 Committed capital of fund R230 million Industry preference FMCG, Retail, Manufacturing & Distribution Fund structure En Commandite Partnership Nature of fund ESD / ICT / Productive Sectors Industries excluded Gambling, liquor, sin industries & arms and ammunition Number of portfolio companies 34 Investment stage preference Growth capital, expansion capital, leveraged buy-outs INVESTMENT PREFERENCES Investment stages excluded Startups Minimum investment R250 000 Minimum and maximum equity usually taken Minimum 25% with significant influence Maximum investment R30 million Average current investment size R5 million Geographical preferences Southern African Industry preference General Industries excluded Gambling, military, speculative real estate REMARKS Investment stage preference Growth/Venture Capital Recently established a Venture Capital Fund S12J company. Tax incentive provided to investors in the VCC Fund. Minimum and maximum equity usually taken 5% - 49% Geographical preferences South Africa REMARKS IDF Capital specialises in investing in black owned, black women owned and black youth owned entrepreneurial business. We are committed to the achievement of socio-economic development objectives through commercial

iCubed Capital (Pty) Limited investments. IDF Capital provides capital, loan, quasi-equity and equity funding. We provide bespoke non-fi nancial IDF Capital business support and we facilitates access to markets for the investee companies, while focusing on earning the required rate of return on investments. 68 69 IJG Capital Imbewu Capital Partners

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2009 Year fund started 2005 Type of fund manager Generalist Type of fund manager Captive Regulatory license number 14/UIM/01 Total number of investments to date 6 Total number of investments to date 12 Number of investment executives 2 Number of investment executives 2 Principal office address 1st Floor Heritage Square, 100 Robert Mugabe Avenue, Principal office address Suite 5, Unit 10 Rydall Vale Office Park, Douglas Saunders Drive, , FULL MEMBER FULL MEMBER Windhoek Namibia La Lucia Ridge, 4051 Key contact person and designation Herbert Maie; Mirko Maier Key contact person and designation Gcina Zondi; Telephone +264 61 383 500 Sne Mkhize E-mail [email protected] Website www.ijg.net Telephone +27 (0)31 566 1484 FUND DETAILS E-mail [email protected] Name of fund Desert Stone Fund Website www.imbewucapital.co.za Committed capital of fund N$161.6 million Fund structure Bewind Trust Nature of fund Generalist Fund FUND DETAILS Number of portfolio companies 3 Number of portfolio companies 8 INVESTMENT PREFERENCES Minimum investment N$8 million INVESTMENT PREFERENCES Maximum investment Limited to 20% of Committed Capital Average current investment size N$15 million Minimum investment R2,5 million Industry preference Services Average current investment size No preferences Industries excluded Fishing, Mining, Any Morally & Environmentally Objectionable Industries Industry preference None Investment stage preference Start-up, Venture Capital & Private Equity Industries excluded MBO,MBI, Expansion, Acquisition and Replacement Capital, Investment stages excluded None Mezzanine, Property and BEE. Minimum and maximum equity usually taken Between 25% - 49% Geographical preferences Namibia Investment stage preference Start up and other early stages FUND DETAILS Investment stages excluded 25% to 45% Name of fund IJG Frontier Investment Fund Limited Minimum and maximum equity usually taken None Committed capital of fund N$200 million Geographical preferences Pan-Africa Fund structure Public Company Nature of fund Generalist Fund Number of portfolio companies 3 REMARKS INVESTMENT PREFERENCES Imbewu Capital Partners is a black-owned and controlled private equity and investment holding company. Minimum investment N$8 million Imbewu Capital Partners invests, structures and raises funding for management buy-outs, leveraged buy-outs, Maximum investment Limited to 20% of Committed Capital strategic Black Economic Empowerment (BEE) transactions in partnership with management teams and Average current investment size N$30 million shareholders. The company has a track record of leading and managing complex equity transactions and Industry preference All Industries except for Exclusions consortiums. Industries excluded Fishing, Mining, Any Morally & Environmentally Objectionable Industries Investment stage preference Start-Up, Venture Capital & Private Equity Investment stages excluded None Minimum and maximum equity usually taken Between 25% and 49% Geographical preferences Namibia REMARKS

IJG Capital IJG Capital is a Namibian based private equity firm focussing on the Namibian market, actively supporting Imbewu Capital Partners portfolio companies through the provision of strategic, operational and financial support. 70 71 72 Industrial Development Corporation (IDC) FULL MEMBER Industrial Development Corporation(IDC) •Guarantees •Short-term tradefinance; and •Export/importfinance •Share warehousing •Wholesalefinance •Commercial loans •Quasi-equity •Equity Financial instrumentsinclude: economic prosperity ofallAfricancitizens. sustainable economicgrowth promoting inAfricaandto the theeconomicempowermentofSA population, engaged incompetitive industries.The IDC’sprimaryobjectives are to contribute to thegenerationofbalanced The IDCisastate-owned nationaldevelopment financeinstitutionthatprovides financingto entrepreneurs Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industries excluded Maximum investment Minimum investment High Impact Chemicals andTextile Industries Metals Value Chain Infrastructure &Newindustries Agro-Processing Value Chain,Industrial Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress REMARKS INVESTMENT PREFERENCES FUNDDETAILS Ourstrategic businessunitsare splitinto fourdivisions: FUND MANAGER DETAILS

Africa Depends ontransaction From prefeasibility stageonwards Gambling Dependent onnature oftransaction R1 million Rest ofAfricaSupport Media andMotionPictures Light Manufacturing&Tourism Heavy Manufacturing Clothing andTextiles Chemical Products andPharmaceuticals Basic andSpecialityChemicals Automotive &Transport Equipment Machinery &Equipment Basic MetalsandMining Industrial infrastructure New industries Agro-processing andAgriculture www.idc.co.za [email protected] +27 112693000 Kalvenie Raja Christine Engelbrecht; 19 Fredman Drive, Sandown,2196 pillars: Consumer,IndustrialandFinancialServices. pillars: with sustainablecompetitive advantagesandhighgrowth potential. Infinitusoperates across three investment Infinitus isaninvestment holdingcompanywithcontrolling orsignificant interests inqualityunlisted businesses Minimum investment Name offund Year fundstarted Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industries excluded Industry preference Maximum investment Number ofportfoliocompanies Nature offund Fund structure Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date Type offundmanager REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS Cape Town &Gauteng 25% to 100% Growth andlater-stage Natural Resources, Agriculture Consumer, IndustrialandFinancialServices R150 million R50 million 9 Mid-cap generalprivate equity Investment holdingcompany Infinitus Holdings(Pty)Ltd www.infinitusholdings.co.za [email protected] +27 216571182 Chloe Botha Simon Alston; Protea5th Floor,Protea 7708 Road,Claremont, Place, 5 9 Independent 2013 Infi nitusHoldings(Pty)Ltd

73 InfiFULL nitus MEMBER Holdings (Pty) Ltd FULL MEMBER Inspired Evolution Investment Management

FUND MANAGER DETAILS Year fund started 2008 Type of fund manager Independent Regulatory license number 36246 Total number of investments to date 13 Number of investment executives 2 Managing Partners, 3 Principals, 1 Financial Manager, 5 Support Staff, 1 non-executive IC chairman FULL MEMBER Principal office address 506 Sunclare Building, 21 Dreyer Street, Claremont, 7708, Wraparound Cape Town, South Africa Key contact person and designation Christhoper Clarke Wayne Keast Telephone +27 21 702 1290 E-mail [email protected] Website www.inspiredevolution.co.za FUND DETAILS Name of fund Evolution One Fund Committed capital of fund solutionsUSD94 million solutions Fund structure Limited Partnership (parallel structures) Nature of fund Clean energy and resource efficiency Number of portfolio companies 12 FUND DETAILS Name of fund Evolution II Fund EVERY QUESTION ANSWERED. Committed capital of fund USD124.5 million (current) | USD250 million (target 28 Sept 18) Fund structure Mauritian Limited Partnership Nature of fund Clean energy infrastructure development & finance | growth equity We combine insight with legal and tax expertise to in energy and resource efficiency deliver bespoke solutions wherever you do business. Number of portfolio companies 1 invested; 4 approvals under final due diligence INVESTMENT PREFERENCES Minimum investment USD2 million Commercially astute. Maximum investment 15% of Total Committed Capital. Est USD25 million (but larger Led by experience. co-investments). Average current investment size USD15-25 million average (expected) Intelligence at work. Industry preference Renewable and Sustainable Energy Generation, Energy Efficiency, Water Efficiency, Agribusiness Efficiency, Waste and Environmental Services Industries excluded Nuclear Power, tobacco, alcohol, gaming, fixed asset (property), defence, detention facilities, sectors with a strong ehical dimension, select environmental category exclusions Investment stage preference Early stage infrastructure development, expansion and growth equity Investment stages excluded VC and LBO Minimum and maximum equity usually taken 25% - 75% equity interests Geographical preferences Sub-Saharan Africa REMARKS

Inspired Evolution Investment Management (Pty) Ltd Investment Evolution Inspired Inspired Evolution offers specialised, deep sector expertise, combined with a global track record for investors and www.webberwentzel.com enterprises.

74 Investec Asset Management Investec Asset Management

FUND MANAGER DETAILS: Investec Africa Private Equity Fund 1 and 2 FUND DETAILS Year fund started 2008 Name of fund Investec Africa Private Equity Fund 2 Type of fund manager Independent Committed capital of fund US$295 million Total number of investments to date 7 Fund structure Capital raised from third parties Number of investment executives 8 plus 1 advisor Nature of fund Growth capital Principal office address 36 Hans Strijdom Avenue, Foreshore, Cape Town, South Africa, 8001 Number of portfolio companies 5 FULL MEMBER FULL MEMBER Key contact person and designation Andre Kuys; INVESTMENT PREFERENCES Nick Tims Minimum investment US$15 million (R150 million), with a target range of Telephone 4.4755774086e+11 US$15-40 million (R150 million-R400 million) E-mail [email protected] Maximum investment US$70 million (R700 million) with ability to make larger investments through bringing in co-investors Website www.investecassetmanagement.com Industry preference Generalist - sector agnostic with preference for consumer-facing FUND DETAILS businesses Name of fund Investec Africa Private Equity Fund 1 Industries excluded Sector-agnostic, but not direct resource extraction, agriculture or Committed capital of fund US$155 million (R1.5 billion) infrastructure. Though can do related industries Fund structure Capital raised from third parties Investment stage preference Growth capital, expansion capital, later-stage capital, buy-outs, Nature of fund Growth capital partial buy-outs Number of portfolio companies 7 Investment stages excluded VC INVESTMENT PREFERENCES Minimum and maximum equity usually taken 10% to 100% with a preference for significant minority Minimum investment US$15 million (R150 million), with a target range of Geographical preferences Pan-African US$15-40 million (R150 million-R400 million) FUND DETAILS Maximum investment US$70 million (R700 million) with ability to make larger investments Name of fund Investec Africa Credit Opportunities Fund 1 through bringing in co-investors Committed capital of fund US$226.5 million Average current investment size US$15-40 million (R150 million-R400 million) Fund structure Third party capital Industry preference Generalist - sector agnostic with preference for consumer-facing businesses Nature of fund Private Credit Number of portfolio companies 16 Industries excluded Sector-agnostic INVESTMENT PREFERENCES Investment stage preference Growth capital, expansion capital, later-stage capital, buy-outs, partial buy-outs Minimum investment US$10 million

Investment stages excluded VC Maximum investment US$20 million Minimum and maximum equity usually taken 10% to 100% with a preference for significant minority Average current investment size US$14 million Geographical preferences Pan Africa mandate - focus on businesses in sub-Saharan Africa, Industry preference Generalist across both the larger markets (such as Nigeria and South Africa) Investment stages excluded VC and the smaller jurisdictions Minimum and maximum equity usually taken Equity stake N/A Geographical preferences Pan-African REMARKS Investec Asset Management’s (IAM) African private equity Fund is at the core of a wider African investment capability at IAM. The experienced primary investment team is an integral part of this broader Pan-African investment capability – one that comprises over 70 investment professionals and manages over US$40 billion (of IAM’s US$110 billion in assets under management), of which over US$4 billion is in Africa ex-SA, deployed across the liquidity spectrum. Investec Asset Management Investec Asset Management Investec

76 77 Invenfin Jarvie Group

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2008 Total number of investments to date 3 Type of fund manager Captive Number of investment executives 2 Total number of investments to date 12 Principal office address Unit B308 Simbithi Office Park, Shakas Rock Road, Salt Rock, 4390 Number of investment executives 3 Key contact person and designation Andrew Jarvie; Principal office address Millennia Park, 16 Stellentia Avenue, Stellenbosch, 7600 FULL MEMBER FULL MEMBER Brett Snyders Key contact person and designation Stuart Gast Telephone +27 86 122 7776 Telephone +27 21 888 3355 E-mail [email protected] E-mail Contact us via website Website www.jarviegroup.com Website www.invenfin.com Twitter: @Invenfin FUND DETAILS FUND DETAILS Name of fund Independent Name of fund Invenfin Committed capital of fund R100 million Committed capital of fund Undisclosed Nature of fund Independent Fund structure Investment holding company

Nature of fund Venture and growth capital division of Remgro Limited INVESTMENT PREFERENCES Number of portfolio companies 11 Minimum investment No minimum

INVESTMENT PREFERENCES Maximum investment R100 million Minimum investment None Average current investment size R30 million Maximum investment None Industry preference Agriculture/Energy/Manufacturing Average current investment size R25 million Industries excluded None Industry preference General technology and food & beverages Investment stage preference Development Capital and Buyout Industries excluded Property & traditional infrastructure, manufacturing infrastructure, Investment stages excluded Seed/Start Up primary agriculture, service businesses, gambling, franchisee Minimum and maximum equity usually taken No restrictions operations Geographical preferences South Africa/SADC Investment stage preference Growth

Minimum and maximum equity usually taken (Significant minority) 26% to 49% REMARKS Geographical preferences SA-based businesses with IP that has international potential The Jarvie Group is an independent private investment group that has a rich tradition of Agriculture and experience in operating businesses in various countries in East and Southern Africa. The investment focus REMARKS is directed to small and medium size companies, with track record and expansion opportunity. Invenfin is a long term equity partner, seeking to assist founders and executive teams to meet their significant challenges, with the ultimate objective of building sustainable business value. The Invenfin team are hands-on investors, working with each company’s management team to enhance performance, through leveraging their business experience, strategic & branding expertise, and networks. Their principal focus is equity funding of businesses that have evolved well beyond the seed stage, with high growth potential, typically achieved through scaling internationally. Invenfin Jarvie Group

78 79 Kagiso Tiso Holdings Kalon Venture Partners

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2011 Year fund started 2016 Type of fund manager Investment holding Type of fund manager Venture Capital Number of investment executives 6 Regulatory license number FSB no: 46525 VCC no: 0030 Principal office address 100 West Street, Wierda Valley, Sandton, 2196 Key contact person and designation Carol Volkwyn; Total number of investments to date 4 FULL MEMBER FULL MEMBER Theresa Griffiths Number of investment executives 4 Full Time Telephone +27 11 562 2589 Principal office address Glenhove Square, 71, 4th Street, Houghton , Johannesburg , 2198 E-mail [email protected] Key contact person and designation Clive Butkow Website www.kth.co.za Leron Varsha Telephone +27 10 140 4939

FUND DETAILS E-mail [email protected] Fund structure Investment holding company Website www.kalonvp.com Nature of fund Investment holding Number of portfolio companies 22 FUND DETAILS Name of fund Kalon Venture Partners Limited - Disruptive Technology Fund

INVESTMENT PREFERENCES Committed capital of fund R107 million Minimum investment R250 million Fund structure 12 J VCC Maximum investment Dependant on nature of transaction Nature of fund Venture Capital Industry preference Financial services, industrials, health, media, power, food Number of portfolio companies 4 Investment stage preference MBO, MBI acquisition, secondary purchase Investment stages excluded Seed and start-up INVESTMENT PREFERENCES Minimum and maximum equity usually taken Signifi cant infl uence Minimum investment R1 million Geographical preferences Pan Africa Maximum investment 20% of total funds under management Average current investment size R10 million Industry preference Technology: Fintech, Retail, Telecoms, FMCG, Media, ICT, other Industries excluded Sin taxes, gambling, tobacco, etc. Investment stage preference Early stage post revenue Investment stages excluded Seed and pre-revenue Minimum and maximum equity usually taken Preferably not a controlling stake Geographical preferences South Africa

REMARKS Kalon Disruptive Technology Fund is focused on investing in entrepreneurs solving African problems. We invest in post revenue startups, not yet post profit. Our focus is not only on funding and smart capital, but delivering smart returns. With a highly-experienced Board we partner and collaborate with entrepreneurs. Kagiso Tiso Holdings Kagiso Partners Venture Kalon

80 81 82 Kalon Venture Partners FULL MEMBER Ke Nako Capital Regulatory licensenumber Regulatory Type offundmanager Year fundstarted relationships). institutional investor’s exposure to Primaries,SecondariesandCo-investments (alongsideGeneral Partner Ke Nako seeksto establishsustainablepartnershipswithSouthAfricanGeneralPartnerswhile enhancing Geographical preferences Investment stagesexcluded Industries excluded Industry preference Maximum investment Minimum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives FUND MANAGER DETAILS REMARKS INVESTMENT PREFERENCES FUND DETAILS

Independent 2007 (Year CompanyEstablished) South Africa Early Stage/Venture Capital None Generalist R400 million R35 million 111 (Co-investments withGP's) Growth capital,expansioncapital andreplacement Fund offunds R3.4 billion 4) SA PensionFund (Investment periodopen) 3) Alternative EquityPartners(Investment periodclosed). open). 2) Ke Nako FundIIencommandite partnership(Investment period 1) Ke Nako Private EquityFundTrust (Investment periodclosed). www.kenakocapital.co.za [email protected] +27 216713311 Olwethu Cata Carlo Dickson; 7700 15 KildareRoad,Newlands, Centre, Wheelan 6 33507

Industries excluded Nature offund (VCC-0021) Kingson CapitalPartnersistheFund ManagerforKingsonCapital,aSARS approved Venture CapitalCompany Geographical preferences Minimum andmaximumequityusuallytaken Investment stagesexcluded Investment stagepreference Minimum investment Industry preference Average current investment size Maximum investment Number ofportfoliocompanies Name offund Year fundstarted Fund structure Committed capitaloffund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumberRegulatory Type offundmanager REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS not scalable businesseswhoseproductsManufacturing orservicerelated are companies) Venture capital(earlystageplushighgrowth smallto medium-sized South Africanresident companies 25.1% -40% Proof of concept,Mezzanine,BridgingFinance,MBO some profitable expansion capitalopportunities Early stageandhighgrowth smallto medium-sized companies,plus ICT, Engineering/energy andhealthcare R7 million R50 million R500 000 4 Company Undisclosed A Kingson CapitalClass www.kingsoncapital.com [email protected] +27 823408633 RossJenvey Gavin Reardon; Unit 2A,21York Road,Gillitts,3610 2 4 FSP46400 Independent 2016 Kingson CapitalPartners

83 Kingson Capital Partners FULL MEMBER Kleoss Capital KNF Ventures / Knife Capital

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2006 Year fund started 2014 Type of fund manager Independent Type of fund manager Independent Regulatory license number FSP 46492 Regulatory license number 45656 Total number of investments to date 8 Total number of investments to date 5 Number of investment executives 3 Principal office address 3 Lagoon Beach Drive, Milnerton, 7441 Number of investment executives 6 FULL MEMBER FULL MEMBER Key contact person and designation Keet van Zyl; Vivienne van der Westhuizen Principal office address 2nd Floor, Office 05, Norwich Place West, 3 Norwich Close, Telephone +27 76 119 5288 Sandton, 2196 E-mail [email protected] Key contact person and designation Hale Matsipa Website www.knf.vc Zain Laher FUND DETAILS Name of fund KNF Ventures Telephone +27 11 666 1660 Committed capital of fund R50 million (Raising R100 million) E-mail [email protected] Fund structure SARS Section 12J VCC Website www.kleosscapital.com Nature of fund Venture Fund Number of portfolio companies 1 FUND DETAILS INVESTMENT PREFERENCES Minimum investment R1 million Name of fund Kleoss Fund I Maximum investment R10 million Committed capital of fund R848 million Average current investment size R5 million Fund structure en commandite partnership Industry preference Innovation-driven Ventures Nature of fund General Industries excluded Non VCC Qualifying Companies Investment stage preference High-growth/ Expansion Number of portfolio companies 5 Investment stages excluded Seed Minimum and maximum equity usually taken Non-controlling equity stakes INVESTMENT PREFERENCES Geographical preferences South Africa Minimum investment R50 million FUND DETAILS Maximum investment R150 million Name of fund Here Be Dragons (HBD) VC Committed capital of fund R138 million Average current investment size R100 million Fund structure Holding Company Industry preference Generalist Fund Nature of fund Growth Equity Venture Fund Industries excluded Direct mining and real estate, although the Fund will invest along Number of portfolio companies 7 the value chain INVESTMENT PREFERENCES Investment stage preference Expansion/Growth Capital, LBO, BEE Funding Minimum investment R10 million Maximum investment R25 million Investment stages excluded Start-ups Average current investment size R20 million Minimum and maximum equity usually taken Significant minority to controlling stake Industry preference Innovation-driven Ventures Geographical preferences South African companies (including companies with rest of-Africa Industries excluded Morally Objectionable Industries exposure) Investment stage preference High-growth/ Expansion Investment stages excluded Seed REMARKS Minimum and maximum equity usually taken 25% to 49% Geographical preferences South Africa Kleoss invests in high growth mid-market SA companies that have a vision of being Pan-African industry leaders. Kleoss strongly believes in partnering with portfolio company’s management with alignment of interests through REMARKS well-thought and measurable incentives. Kleoss’s value addition model includes being very operationally involved By leveraging Knowledge, Networks & Funding, KNF Ventures accelerates the growth of South African innovation- and leveraging our resources and networks to create value and generate superior returns for our investors through driven SMEs and generates enhanced returns for investors. KNF is an approved SARS s12J Venture Capital Company (VCC-0027). Investors in KNF can claim their full investment amount as a deduction from taxable

Kleoss Capital a pro-active and methodical approach that is executed with dedication and consistence. / Knife Capital KNF Ventures income. KNF is managed by Knife Capital, a leading VC firm that facilitated lucrative exits of local technology companies to the likes of General Electric, Visa and Garmin. 84 85 KZN Growth Fund Trust Linkmakers Capital

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2008 Year fund started 2016 Type of fund manager Captive Type of fund manager VCC Total number of investments to date 10 Number of investment executives 3 Regulatory license number FSB 43561 Principal office address 28th Floor, Delta Towers, 303 Pixley KaSeme St, Durban, 4001 Total number of investments to date 11 FULL MEMBER FULL MEMBER Key contact person and designation Aubrey Shabane; Ahmed Jhaveri Number of investment executives 4 Telephone +27 31 372 3720 Principal office address 132 Jan Smuts Ave, Parkwood E-mail [email protected] Website www.kzngrowthfund.co.za Key contact person and designation Pavlo Phitidis; Nic Snell FUND DETAILS Name of fund KZN Growth Fund Telephone +27 11 447 5575 Committed capital of fund R800 million E-mail [email protected] Fund structure Trust Website www.linkmakers.co.za Nature of fund Private Debt and Equity Fund Number of portfolio companies 7 INVESTMENT PREFERENCES FUND DETAILS Minimum investment R30 million Name of fund LinkMakers Capital Maximum investment R200 million Committed capital of fund As of 2 May 2017 R45 million committed Average current investment size R70 million Industry preference Generalist fund Fund structure Company Industries excluded All Sin Industries; Residential Property and Primary Agriculture Nature of fund BEE Supplier Development Growth Fund Investment stage preference Early Stage and Expansionary Number of portfolio companies 11 Investment stages excluded Pre-feasibility Minimum and maximum equity usually taken R20 million to R200 million (26% – 49%) Geographical preferences South Africa with bias towards KZN INVESTMENT PREFERENCES FUND DETAILS Minimum investment R750 000 Name of fund KZN Growth Equity Fund Maximum investment R7.5 million Committed capital of fund R300 million Average current investment size R1.5 million Fund structure Trust Nature of fund Growth and Impact Fund Industry preference Cross Sector Number of portfolio companies 3 Industries excluded As specified by the VCC provisions INVESTMENT PREFERENCES Investment stage preference SME suppliers in corporate supply chains entering growth & Minimum investment R20 million acceleration stages Maximum investment R100 million Investment stages excluded Start Up Average current investment size R70 million Industry preference Generalist Fund Minimum and maximum equity usually taken 10-49% Industries excluded All Sin Industries; Residential Property and Primary Agriculture Geographical preferences National Investment stage preference Early Stage and Expansionary Investment stages excluded Pre-feasibility REMARKS Minimum and maximum equity usually taken R20 million A specialist supplier development fund for corporates developing SME suppliers in their supply chains. Geographical preferences South Africa with bias towards KZN Risk and return is managed through business growth support for the SME & complies with all requirements REMARKS of the BEE codes and localisation strategy. Evolved from being a Debt Fund (Fund 1) and raising capital for second fund, which is an Equity Fund. Geographically well positioned in South Africa’s second largest economy, KwaZulu-Natal. The Fund has developed strong relationships

KZN Growth Fund Trust KZN Growth with the business community in the KZN province and is regarded as a premier investor, which is evidenced by a strong Capital Linkmakers deal fl ow pipeline. The Fund has assembled a strong investment team to take it to the next level.

86 87 88 Mahlako-a-Phahla Financial Services FULL MEMBER Mahlako-a-Phahla FinancialServices Mahlako-a-Phahla Mahlako iscapitalraisingforitsmaidenenergyMahlako fund,withfirstclosingexpected at31March 2020 Geographical preferences Minimum andmaximumequityusuallytaken Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Minimum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumber Regulatory Type offundmanager Year fundstarted REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS South Africa 26%-49% Growth capital,expansion capital,brownfields infrastructure Energy growth assetsandinfrastructure N/A 15% oftotal committed capital None 0 Invests inenergy infrastructure andgrowth assets En Commandite N/A EnergyMahlako Fund www.mahlakofs.co.za [email protected] +27 117063902 Teni Ntoi Block A,1stFloor,345Rivonia Road 2 0 47512 Independent small 2016 Start-ups Non-energy sector exclusion Ongoing capitalraising continuesuntilfinalclose. has successfullyachieved firstclose(July 2017) ofit’ssecondfund(FundII)and isbusydeployingthatcapital. Holdings (FundI), which hasnowbeenfullyrealized andreturned to investors asofDecember2014. Makalani wasestablishedin2005to managealisted R2,5 billion debtandequityinvestmentMakalani portfolioofMakalani ManagementCompanyisanestablishedfund manager,basedinJohannesburg, SouthAfrica.Makalani Minimum investment Name offund Geographical preferences Investment stagesexcluded Investment stagepreference Industries excluded Industry preference Average current investmement size Maximum investment Nature offund Fund structure Committed capitaloffund Geographical preferences Investment stagesexcluded Investment stagepreference Minimum investment Name offund Year fundstarted Industries excluded Industry preference Maximum investment Nature offund Fund structure Committed capitaloffund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumber Regulatory Type offundmanager REMARKS INVESTMENT PREFERENCES FUND DETAILS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS Makalani ManagementCompany Makalani South Africa Start-ups Later stagecapital,noseedandstart-ups All industriesotherthanexclusions below R100 million R150 million R15 million Mezzanine financingforBEEtransactions Company R2,5 billion FundI(Fullyrealised andreturnedMakalani December2014) South Africa Start-ups Existing businesseswithminimumof3years tradinghistory All industriesotherthanexclusions below R150 million R20 million BEE EquityMezzanineFinancing Partnership R650 million(Target R1,25billion) FundII Makalani www.makalani.co.za [email protected] +27 114280680 Reynhardt deBruyn;WiggillKeshan Pillay 261 Oxford Road,Illovo ,Johannesburg ,2196 6 Fund I-33Investments (Fullyrealised Dec2014) FSB 42320 Alternative Investments 2005 residential property, tobacco andderivative speculation Alcohol (excluding beerandwine),armaments,gambling, residential property, tobacco andderivative speculation Alcohol (excluding beerandwine),armaments,gambling,

89 Makalani Management Company (Pty) Ltd FULL MEMBER Medu Capital Mergence

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2013 Number of investment executives 6 Type of fund manager Independent Principal office address 6th Floor, The Equinox, Sea Point, Cape Town Regulatory license number 40187 Key contact person and designation Mark van Wyk; Lesley Armstrong Total number of investments to date 27 Telephone +27 21 433 2960

FULL MEMBER Number of investment executives 7 FULL MEMBER E-mail [email protected] Principal office address 35 Ferguson Road, Illovo, Sandton, 2196 Website www.mergence.co.za Key contact person and designation Nhlanganiso Mkwanazi Telephone +27 11 268 9140 FUND DETAILS E-mail [email protected] Name of fund Mergence Infrastructure Equity Fund Website www.meducapital.co.za Committed capital of fund R600 million FUND DETAILS Nature of fund Large and small-scale infrastructure Name of fund Medu Capital Fund II Number of portfolio companies 6 Committed capital of fund R900 million

Fund structure Capital raised from third parties INVESTMENT PREFERENCES Nature of fund General private equity fund Minimum investment R30 million Number of portfolio companies 3 Maximum investment R300 million Industry preference Infrastructure assets FUND DETAILS Investment stage preference Development, construction and operational Name of fund Medu Capital Fund III Minimum and maximum equity usually taken None Committed capital of fund R1.1 billion Geographical preferences None Fund structure Capital raised from third parties Nature of fund General private equity fund Number of portfolio companies 5

INVESTMENT PREFERENCES Minimum investment R50 million Maximum investment R200 million Average current investment size R111 million Industry preference General Industries excluded Tobacco, liquor, gambling and military weapons industries Investment stage preference Established companies Investment stages excluded Early phase Minimum and maximum equity usually taken 15% to 80% Geographical preferences Africa

REMARKS

Medu Capital Medu Capital aims to acquire significant minority and/or control interests in established medium-sized businesses. Mergence

90 91 Metier Metier

FUND MANAGER DETAILS FUND DETAILS Year fund started 2003 Name of fund Sustainable Capital Funds Type of fund manager Independent Committed capital of fund R1.4 billion Regulatory license number FSP licence no's 44882, Fund structure Trusts 23261 and Nature of fund Clean energy and resource efficient infrastructure 44430 Number of portfolio companies 8 FULL MEMBER FULL MEMBER Total number of investments to date Growth Fund I (8, 4 of which are realised) Growth Fund II (6), Sustainable Capital funds (8) INVESTMENT PREFERENCES Number of investment executives 24 Minimum investment R20 million Principal office address 39 Rivonia Road, Sandhurst, Johannesburg Maximum investment R100 million Key contact person and designation JP Fourie Lungile Mdluli Average current investment size R50 million

Telephone +27 11 268 4000 Industry preference Renewable energy, energy efficiency, waste and water management E-mail [email protected] Industries excluded Unbankable technology Website www.metier.africa Investment stage preference Growth, project expansion and development stage capital Investment stages excluded Seed capital, early stage and start-up FUND DETAILS Minimum and maximum equity usually taken Generally 20% to 60% Name of fund Capital Growth Funds Geographical preferences Africa Committed capital of fund Predecessor fund R3.0 billion, Successor fund R2.9 billion Fund structure Fund I - Trust, Fund II - Parternship REMARKS Nature of fund Growth capital Metier has a track record of outstanding performance in private equity, with team members having concluded Number of portfolio companies Fund I - 8 (4 of which are realised) Fund II - 6 over 95 deals and having achieved a greater than 30% annual internal rate of return over the past three decades. It has an active and effective culture and is ideally positioned to partner investors and portfolio companies alike. We believe that private equity requires the deep involvement of experienced managers putting their own skills, energy INVESTMENT PREFERENCES and capital at risk alongside institutional investors. Minimum investment R50 million Maximum investment R750 million Average current investment size R300 million Industry preference Diverse Industries excluded Spirits and gambling Investment stage preference Development capital, expansion stage, growth capital, expansion capital

Investment stages excluded Seed capital, early stage and start-up Minimum and maximum equity usually taken Generally 20% to 60% Geographical preferences South and Sub-Saharan Africa Metier Metier

92 93 Multiply Group Musa Capital

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started Fund II - Vintage 2008 Year fund started 2016 Type of fund manager Independent Type of fund manager On Balance Sheet Private Investment Holding Company Regulatory license number 21952 Total number of investments to date 18 Operational Companies and 8 Property Companies Total number of investments to date 9 Number of investment executives 5 Number of investment executives 5 Principal office address Suite 705 Strauss Daly Place, 41 Richefond Circle, Ridgeside, 4319 Principal office address 3 Commerce Square, 3rd Floor, 39 Rivonia Road,

FULL MEMBER Sandhurst, Johannesburg FULL MEMBER Key contact person and designation Craig Coombe Key contact person and designation William Jimerson; Richard Akwei Marc Rosenberg Telephone +27 11 771 6300 Telephone +27 31 101 3073 E-mail [email protected] E-mail [email protected] Website www.musacapital.com Website www.multiplyinvest.com FUND DETAILS Name of fund Musa Kubu Fund FUND DETAILS Committed capital of fund R575 million Fund structure Partnership Name of fund On Balance Sheet Private Investment Holding Company Nature of fund Private Equity and Structured Debt Committed capital of fund Local and Global Private Investor Capital Number of portfolio companies 8 Fund structure Company INVESTMENT PREFERENCES Nature of fund On Balance Sheet Private Investment Holding Company Minimum investment R25 million Number of portfolio companies 18 Maximum investment R100 million Average current investment size R70 million INVESTMENT PREFERENCES Industry preference Affordable housing, food value chain, healthcare, financial services, ITC, logistics Minimum investment No minimum but requirement for scale opportunities Investment stage preference Expansion capital No limit due to the utilization of local and global syndication Investment stages excluded Start Up Maximum investment funding Minimum and maximum equity usually taken 30% to 80% Average current investment size R50 million Geographical preferences SADC Industry preference Platforms in: Technology, Food, Infrastructure, Property FUND DETAILS Name of fund Namibia Mid-Cap Fund Investment stage preference Established Growth Businesses Committed capital of fund N$300 million Minimum and maximum equity usually taken Minimum 25% and no Maximum Fund structure Trust Geographical preferences Focus on African Businesses with Global Reach Nature of fund Private Equity and Structured Debt INVESTMENT PREFERENCES REMARKS Minimum investment N$30 million Multiply is a multi-platform private investment company with established global investor networks which enable Maximum investment N$100 million scale investment. Multiply has strong Africa experience and ability to co-invest with international industry and Industry preference Food value chain, healthcare, financial services, ITC, investor players into and out of African markets. Multiply team members have proven entrepreneurial success as logistics, education well as banking and large listed company experience. Industries excluded Real Estate Investment stage preference Expansion Minimum and maximum equity usually taken 30% to 80% Geographical preferences Namibia REMARKS We focus on small to medium-sized enterprises that make up the “missing middle” market in Africa. Musa believes in an active management approach, which combines financial capital with human capital development, strategic Multiply Group planning, strict governance structures and operational support at the executive level to maximise investment. Musa Capital We have a holistic investment philosophy which emphasizes financial returns to investors, sponsors, stakeholders 94 and the communities in which the portfolio companies operate. 95 Nedbank Private Equity Newtown Partners

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 1996 Total number of investments to date 14 Type of fund manager Captive Number of investment executives 2 Regulatory license number Nedbank Principal office address 1st Floor, Annex, 2 Energy Lane, Bridgeways Precinct, Total number of investments to date 95 Century City, Cape Town Number of investment executives 10 Key contact person and designation Llew Claasen, Managing Partner FULL MEMBER FULL MEMBER Principal office address Block F, Nedbank Sandton , 135 Rivonia Road , Sandown , Sandton Telephone +27 87 802 6464 Key contact person and designation Clive Howell E-mail [email protected] Ellie Issa Website www.newtownpartners.com Telephone +27 11 294 3325

E-mail [email protected] INVESTMENT PREFERENCES Website www.nedbank.co.za Industry preference Blockchain Investment stage preference Seed stage FUND DETAILS Name of fund Nedbank Private Equity REMARKS Committed capital of fund Open Ended Newtown Partners is a blockchain investment and advisory services firm that specializes in token economics, Fund structure Company token sale design and demand generation. They operate out of offices in San Francisco, U.S. and Cape Town, Nature of fund Captive fund South Africa. Newtown Partners invests significant time and skill into ensuring that the tokens they work with have utility and value across a wide spectrum of industries and use cases. Recent industries that they have Number of portfolio companies 12 worked in include identity management, financial services and augmented reality.

INVESTMENT PREFERENCES Minimum investment R50 million Maximum investment R500 million Average current investment size R124 million Industry preference All sectors Industries excluded Real estate, primary agriculture, primary mining Investment stage preference MBO, expansion, acquisition, replacement capital, mezzanine Investment stages excluded Venture Capital Minimum and maximum equity usually taken Significant minority interests Geographical preferences South Africa and SADC

REMARKS Nedbank Private Equity is the Captive On Balance Sheet private equity business within the Nedbank Group. It is managed by a team of investment professionals with extensive investment experience and a well established track record in a wide range of industries. The team seeks to partner with entrepreneurs and management teams as it seeks to add and create value for the underlying investee companies and all stakeholders involved. Nedbank Private Equity Nedbank Private Partners Newtown

96 97 Novare Equity Partners (Pty) Ltd Novare Real Estate South Africa

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started Novare Africa Property Fund I - 2010; Year fund started 2018 Novare Africa Property Fund II - 2014 Type of fund manager Private Equity Type of fund manager Independent Regulatory license number FSB licence no 41836 Regulatory license number 48724 Total number of investments to date Novare Africa property Fund I - 4; Novare Africa Property Fund II - 6 Principal office address 5th Floor, The Cliffs, Office Block 1, Tyger Falls, Carl Cronje Drive, Number of investment executives 8 Bellville, 7530 FULL MEMBER FULL MEMBER Principal office address 5th Floor, The Cliffs Office Block 1, Niagara Way, Tyger Falls, Key contact person and designation Jacques Du Preez Carl Cronje Drive, Bellville, 7530 Telephone +27 21 914 3944 Key contact person and designation Elzaan Kotze E-mail [email protected] Telephone +27 21 914 3944 E-mail [email protected] Website www.novareequitypartners.com Website www.novare.com and www.novareequitypartners.com FUND DETAILS INVESTMENT PREFERENCES Name of fund Novare Africa Property Fund I Industry preference Real Estate Committed capital of fund R974 226, 60 million Fund structure Company Investment stage preference Start-up / Early stages Nature of fund Specialist Geographical preferences South Africa Number of portfolio companies 4 INVESTMENT PREFERENCES REMARKS Minimum investment R69 million Novare Real Estate South Africa is a subsidiary of Novare Equity Partners, a private equity fund manager with assets Maximum investment R274 million under management of $430 million and a mandate to invest in the development of commercial and retail real estate Average current investment size R231 million in sub-Saharan Africa, excluding South Africa. Novare Real Estate South Africa will acquire greenfi eld land to develop Industry preference Financial & Insurance Real Estate commercial, retail, hotel, residential, educational, healthcare and mixed-use properties in South Africa. Industries excluded All except property Investment stage preference Development Capital Investment stages excluded Seed capital, start up & early stage Minimum and maximum equity usually taken 20% to 100% Geographical preferences Sub-Saharan Africa, excluding South Africa FUND DETAILS Name of fund Novare Africa Property Fund II Committed capital of fund R4,817,362,975 billion Fund structure Company Nature of fund Specialist Number of portfolio companies 6 INVESTMENT PREFERENCES Minimum investment R69 million Maximum investment R822 million Average current investment size R243 million Industry preference Financial and Insurance Real Estate Industries excluded All except property Investment stage preference Start up & early stage Investment stages excluded Seed capital Minimum and maximum equity usually taken 20% to 100%

Novare Equity Partners (Pty) Ltd Novare Geographical preferences Sub-Saharan Africa, excluding South Africa South Africa Real Estate Novare

98 99 The Oakmont Partnership One Africa Capital Partners

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2016 Year fund started 2018 Type of fund manager Independent Type of fund manager Black female owned and managed fund manager Regulatory license number 47043 Total number of investments to date 1 Total number of investments to date 2 Number of investment executives 3 Number of investment executives 4 Key contact person and designation Yvonne Maitin FULL MEMBER FULL MEMBER Principal office address Block C, 4th Floor The District, 41 Sir Lowry Road, Woodstock, Telephone +27 82 925 5198 Cape Town E-mail [email protected] Key contact person and designation Nick Hudson; Website www.oneafricacapital.co.za Bernard Sellmeyer

Telephone +27 21 469 3587 FUND DETAILS E-mail [email protected] Name of fund OACV Fund I Website www.oakmont.co.za Committed capital of fund Targeting R250 million Nature of fund Seed, early-stage and growth capital investments FUND DETAILS Name of fund The Oakmont Partnership Fund 1 INVESTMENT PREFERENCES Committed capital of fund R800 million Minimum investment R1 million (seed) Fund structure Partnership R5 million (early-stage) Nature of fund Middle market private equity R10 million (growth) Number of portfolio companies 0 Maximum investment R50 million Industry preference Technology and Innovation INVESTMENT PREFERENCES Industries excluded Hardware Minimum investment R40 million Investment stage preference Start-ups and Ventures Maximum investment R160 million Investment stages excluded Mature assets Average current investment size R85 million Minimum and maximum equity usually taken Min 26% - Max 51% Industry preference General Geographical preferences South Africa Industries excluded Primary mining, primary agriculture, property holding, casinos Investment stage preference Early REMARKS Investment stages excluded Start-up OACP is a private equity investment firm focused on seed, start-up and growth capital investments in mid-market companies poised for high growth through technology and innovation. The fund will make equity and quasi-equity Minimum and maximum equity usually taken 15% / 90% investments in South African based SME’s. Geographical preferences Common Monetary Area The Oakmont Partnership The One Africa Capital Partners

100 101 Old Mutual Alternative Investments Old Mutual Alternative Investments

FUND MANAGER DETAILS FUND DETAILS Type of fund manager Alternative Asset Manager 3. Impact Funds Regulatory license number 45255 Name of fund Housing Impact Fund South Africa Number of investment executives 43 Nature of fund Affordable housing and development Principal office address PO Box 878, Cape Town, 8000 Key contact person and designation Paul Boynton (CEO)

FULL MEMBER Name of fund Schools and Education Investment Impact Fund of South Africa FULL MEMBER Telephone +27 21 509 6869 Nature of fund School and education investments E-mail [email protected] Website www.oldmutualalternatives.com Name of fund Old Mutual Retirement Accommodation Fund Nature of fund Retirement accommodation investments and developments FUND DETAILS 1. Private Equity INVESTMENT PREFERENCES Name of fund OMPE Fund IV Minimum investment R75 million Nature of fund General private equity investments Maximum investment R2 billion Average current investment size R240 million 2. Private Equity Fund of Funds Industry preference All Industries considered Name of fund OMIGSA International Private Equity Fund of Funds III Industries excluded Fund Specific Nature of fund Growth Capital and mid-market buy-out Investment stage preference Expansion, MBO, LBO, replacement capital, project finance on a limited recourse basis, development capital, growth capital and Name of fund Old Mutual Multi Manager Private Equity Fund III later-stage capital Nature of fund General private equity fund of funds investments Minimum and maximum equity usually taken 10% to control Geographical preferences Southern Africa and Africa (fund dependent)

Name of fund OMIGSA International Private Equity Fund of Funds II Nature of fund Growth capital and mid-market buy-outs REMARKS Old Mutual Alternative Investments has 7 active funds and 7 fund of funds investing in nearly 130 portfolio companies. We have 43 investment professionals with over 600 years of collective experience. Our client base Name of fund Old Mutual Africa Private Equity Fund of Funds spans institutional investors and over 1 000 retail investors. Nature of fund General private equity fund of funds investments We are one of the largest alternative managers in Africa with R42 billion assets under management. We manage investments in Private Equity and a range of Impact Funds. FULL MEMBER Old Mutual Alternative Investments Old Mutual Alternative Investments Old Mutual Alternative

102 103 PAPEfunds Pembani Remgro Infrastructure Managers

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2009 Year fund started 2015 Type of fund manager Independent Type of fund manager Independent Regulatory license number FSP 46332 Regulatory license number FSP Licence Number: 43799 Total number of investments to date 11 Total number of investments to date 4 Number of investment executives 7 Number of investment executives 8 FULL MEMBER FULL MEMBER Principal office address 222a Grosvenor Road, Bryanston, Gauteng, South Africa, 2191 Principal office address The Court House, 2 Saxon Road, Sandhurst, Sandton, 2196, South Africa Key contact person and designation Zuko Kubukile; Dee Mutch Key contact person and designation Marcel Louw; Kate Pretorius Telephone +27 10 007 4466 E-mail [email protected] Telephone +27 11 290 0231 Website www.papefunds.co.za E-mail [email protected] Website www.pembani-remgro.com

FUND DETAILS Name of fund Pan-African Private Equity Fund 1 (Pty) Ltd (PAPEF1); FUND DETAILS Pan-African Private Equity Fund 2012 (Pty) Ltd (PAPEF2012) and Name of fund Pembani Remgro Infrastructure Fund PAPE Fund 3 Committed capital of fund US$302 million Committed capital of fund PAPEF1 R250 million (Fully invested), Fund structure Long-term infrastructure fund PAPEF2012 R300 million (Fully investing), PAPE Fund 2015 R110m (Still investing) Nature of fund Institutional investors

Fund structure South African domiciled, Black-owned, (Pty) Ltd entity funds Number of portfolio companies 4 Nature of fund BEE/generalist/growth-oriented/Pan-African/no start-ups Number of portfolio companies 6 INVESTMENT PREFERENCES Minimum investment None

INVESTMENT PREFERENCES Maximum investment Not more than 15% of aggregate Fund commitments in greenfield or infrastructure associated companies and not more than 20% of Minimum investment R50 million aggregate Fund commitments in existing infrastructure projects. Maximum investment R180 million Industry preference Greenfield and existing Infrastructure and associated companies Average current investment size R90 million across Africa

Industry preference None Industries excluded Resources mining and extraction activities Industries excluded Direct Property and Mining Investment stage preference Greenfield and existing infrastructure projects and associated Investment stage preference Mature, high-growth companies companies Investment stages excluded Start-ups Geographical preferences Sub-Saharan Africa (top performing economies) Minimum and maximum equity usually taken 25% to 80% Geographical preferences South Africa and SADC REMARKS The fund aims to invest equity and quasi-equity in private-sector infrastructure transactions and companies across the African continent. Apart from investments in both greenfield and existing projects throughout the entire spectrum of the infrastructure sector, emphasis will be also placed on companies associated with the provision and/or servicing of such infrastructure. Specific focus will be given to supporting private-sector infrastructure requirements around natural resources. PAPEfunds Managers (Pty) Ltd Infrastructure Pembani Remgro

112 104 105 Principal Partners OLD MUTUAL PRIVATE EQUITY

FUND MANAGER DETAILS Year fund started 2010 Type of fund manager Private Equity Regulatory license number IT2318/2010 Total number of investments to date 20 Number of investment executives 2 FULL MEMBER Principal office address Suite 201, 2nd Floor, Cape Quarter Village, 27 Somerset Road, Greenpoint, Cape Town, 8005

Key contact person and designation Saul Greenblatt; Avram Levy Telephone +27 21 401 8944 E-mail [email protected]; [email protected]

Website www.principalpartners.co.za

FUND DETAILS Name of fund Principal Partners Committed capital of fund No fund - independent private partnership Fund structure No fund - independent private partnership Nature of fund Leveraged buy-out, growth capital, expansion capital, management buy-out

Number of portfolio companies 4

INVESTMENT PREFERENCES Minimum investment R5 million Maximum investment R50 million Average current investment size R20 million SERIOUS ABOUT PARTNERSHIP Industry preference No preference WORKING TOGETHER TO UNLOCK POTENTIAL Industries excluded Mining, agriculture, tobacco, alcohol, gambling and arms and You need a skilled team with a wide perspective on the market to see beyond the obvious. We combine that market ammunition perspective with a partnership mentality and deep experience to unlock the potential that makes good businesses great. Investment stage preference Early stage, development capital, expansion stage, growth capital, That’s why we’re a leading private equity manager in South Africa. expansion capital, later stage capital, buy-outs, partial buy-outs, leveraged buy-outs Minimum and maximum equity usually taken Minimum 25% to maximum 60% Geographical preferences Europe, Africa www.oldmutualprivateequity.co.za

Old Mutual Alternative Investments (Pty) Ltd is a licensed financial services provider, FSP No 45255, approved by the Registrar of Financial Services Providers (www.fsb.co.za) to provide advisory and/or intermediary services in terms of the Financial Advisory and Intermediary Services Act 37, 2002. Old Mutual Alternative Investments (Pty) Ltd is a wholly owned subsidiary of Old Mutual Investment Group Holdings (Pty) Limited and is a member of the Old Mutual Investment Group. Contractual rights and obligations of investors are set out in the relevant investor agreements and or mandates. Unlisted investments Principal Partners have short term to long term liquidity risks and there are no guarantees on the investment capital nor on performance. Market fluctuations and changes in exchange rates as well as taxation may have an effect on the value, price, or income of investments and capital contributions. Since financial markets fluctuate, an investor may not recover the full amount invested. Past performance is not necessarily a guide to future investment performance. 106 Phatisa Phatisa

FUND MANAGER DETAILS FUND DETAILS Year fund started 2011 Name of fund African Agriculture Fund (AAF) Type of fund manager Sector-focused African development equity fund manager Committed capital of fund US$246 million Regulatory license number FSP Licence no. 43199 (RSA) Fund structure Capital raised from third parties FSC Licence no. C109007765 (MU) Nature of fund Agriculture and food sector, leveraged-buy-out, growth capital and FSC Licence no. C112011319 (MU) expansion capital FULL MEMBER FULL MEMBER Total number of investments to date 16 Number of portfolio companies 9 Number of investment executives 9

Principal office address Suite 510, Fifth Floor, Barkly Wharf Le Caudan, Waterfront, Port Louis, INVESTMENT PREFERENCES Mauritius Minimum investment >US$5 million Key contact person and designation Stuart Bradley Maximum investment 10% of fund size Izelle le Roux Average current investment size US$0 million - US$20 million Telephone +27 11 463 1920 Industry preference Primary (arable and plantations), secondary (processing and E-mail [email protected] animal feeds) and services/infrastructure (storage, fertilisers, Website www.phatisa.com chemicals, packaging, other inputs) Industries excluded Forestry, tobacco and bio-fuels FUND DETAILS Investment stage preference Expansion, MBO/I, acquisition and early stage Name of fund African Agriculture Fund (AAF) Investment stages excluded Greenfields Committed capital of fund US$246 million Minimum and maximum equity usually taken 5% to 100% Fund structure Capital raised from third parties Geographical preferences Africa Nature of fund Agriculture and food sector, leveraged-buy-out, growth capital and expansion capital REMARKS Number of portfolio companies 9 Phatisa is a sector-specific African private equity fund manager located in and operating across sub-Saharan Africa, including London. The firm currently has two funds under management, totalling more than US$285 million, focused on food and affordable housing. Phatisa comprises a team of over 30 dedicated staff with a wealth of INVESTMENT PREFERENCES experience and a solid track record of managing private equity funds and commercial businesses throughout the Minimum investment >US$5 million continent. We speak >30 languages and represent >12 nationalities. Maximum investment 10% of fund size Average current investment size US$20-25 million Industry preference Primary (arable and plantations), secondary (processing and animal feeds) and services/infrastructure (storage, fertilisers, chemicals, packaging, other inputs) Industries excluded Forestry, tobacco and bio-fuels Investment stage preference Expansion, MBO/I, acquisition and early stage Investment stages excluded Greenfields Minimum and maximum equity usually taken 25% to 100% Geographical preferences Africa

112 108 109 110 112 Public Investment Corporation FULL MEMBER Public Investment Corporation Geographical preferences Minimum andmaximum equityusuallytaken Investment stagepreference Industries excluded Industry preference Maximum investment Minimum investment Name offund Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Minimum investment Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumber Regulatory Type offundmanager Year funstarted INVESTMENT PREFERENCES FUND DETAILS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS South AfricaandRest ofAfricanContinent Determined oncase-by-case basis Early stage,expansion, buy-inandbuy-out, venture capital Gambling, highriskprojects andammunition broadband infrastructure, skillsdevelopment, SMMEs,services construction andhousing,healthcare, education,manufacturing, Energy, includingrenewable energy, water, transportandlogistics, Usually notmore thanR2billion R10 million Private Equity South Africaandrest ofAfricanContinent Determined oncase-by-casebasis Early stage,expansion, buy-inandbuy-out,venture capital Gambling, highriskprojects andammunition broadband infrastructure, skillsdevelopment, SMMEs,services construction andhousing,healthcare, education,manufacturing, Energy, includingrenewable energy, water, transportandlogistics, US$10 million-US$20million(ZAR115million-US$235million) Usually notmore thanR2billion R10 million R144 billion(9%ofGEPFassetsundermanagement) Isibaya Fund www.pic.gov.za [email protected] +27 127423400 Marde Van Wyk Mauna Mahlare; & Corobay Avenue, Waterkloof GlenExtension 2,Pretoria 0181 2nd Floor,MenlynMaineCentralSquare, CornerAramistAvenue 38 31 (inclusive ofinvestments through FundofFunds) FSP Number19777 Unlisted Investements 01/01/1995 principal businessandmaintaintheir head offi ceswithinSouthAfrica. The target size oftheFundisR1,6billion. venturesand related inSouthAfrica.The Fundhasafocusonprivate South Africanbusinesseswhichconducttheir RH Managers(Pty)Limited isaFundManagerestablishedto make investments inhealthcare, hospitals, day-clinics Minimum investment Name offund Year fundstarted Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date licensenumberRegulatory Type offundmanager REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS South Africa R50-R200 million Early stage Non-Healthcare Healthcare R75 million R200 million R50 million 12 Healthcare Partnership R1.6 billion Razorite Healthcare andRehabilitationFund www.rhmanagers.com [email protected] +27 100072171 Ayanda Khumalo Quinton Zunga; 3rd Floor,18Melrose Boulevard, Melrose Arch, 2076 7 12 44811 VCC 2014 RH Managers(Pty)Ltd

111 RHFULL Managers MEMBER (Pty) Ltd FULL MEMBER RMB Corvest Rockwood Private Equity

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 1989 Year fund started 2008 Type of fund manager Captive Type of fund manager Independent Total number of investments to date 199 (as at April 2017) Regulatory license number FSB License number 34503 Number of investment executives 12 Total number of investments to date 32 (including investments not currently housed in Rockwood Fund I) Principal office address 1st floor, 8 Melville Road, Illovo, 2196, Johannesburg Number of investment executives 5 FULL MEMBER FULL MEMBER Key contact person and designation Neil Page Principal office address Inanda Greens Business Park, Augusta House, Building 6, Ground Floor 54 Wierda Road West, Wierda Valley, 2196, South Africa Telephone +27 11 380 8300 E-mail [email protected] Key contact person and designation Gareth Druce; Susan Rose Website www.rmbcorvest.co.za Telephone +27 10 060 4153/45 E-mail [email protected] FUND DETAILS Website www.rockwoodpe.co.za Name of fund RMB Corvest Committed capital of fund Open-ended FUND DETAILS Fund structure Captive fund Name of fund Rockwood Fund I Nature of fund Leveraged equity portfolio Committed capital of fund R4.2 billion Number of portfolio companies 61 Fund structure Capital raised from local and international third parties Nature of fund Leveraged-buy-out, growth capital, expansion INVESTMENT PREFERENCES Number of portfolio companies Originally 5, currently 3 Minimum investment R30 million Maximum investment R500 million INVESTMENT PREFERENCES Average current investment size R50 million-R150 million Minimum investment R250 million Industry preference All industries Maximum investment R1 billion Industries excluded Mining, agriculture and property Average current investment size R650 million Investment stage preference Expansion, MBO, MBI, replacement, BEE, acquisition Industry preference Various Investment stages excluded Start-up, turnaround Industries excluded Primary agriculture, property, armaments and mining Minimum and maximum equity usually taken 20% to 90% Investment stage preference Expansion stage, growth capital, expansion capital, later-stage capital, Geographical preferences Africa buy-outs, partial buy-outs, leveraged buy-outs

Investment stages excluded Venture Capital REMARKS Minimum and maximum equity usually taken 45% to 100% RMB Corvest is a private equity company in the FirstRand Group specialising in MBOs, MBIs and BEE transactions. Geographical preferences South Africa and Sub-Saharan Africa Founded in 1989, its aim is to invest in established, well-managed businesses that have a proven track record of solid performance. With almost 200 deals completed to date, an established track record, staff well experienced in private equity and access to the resources of RMB, it offers a comprehensive private equity solution. REMARKS The Rockwood team has been together since 2008 and spun out of Barclays Africa in December 2013 in the first secondary transaction in South Africa. Rockwood focuses on taking substantial equity positions in medium to large companies that have experienced management teams. Such companies should have excellent profit and cash flow histories and/or good growth opportunities as well as be amongst the market leaders in their industries. FULL MEMBER RMB Corvest Equity Rockwood Private

112 112 113 The SA SME Fund Limited Sampada Private Equity (Pty) Ltd

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2016 Year fund started 2015 Type of fund manager Fund of funds Type of fund manager Independent Regulatory license number N/A Regulatory license number 44802 Total number of investments to date 6 Fund investments Total number of investments to date 5 Number of investment executives 5 Number of investment executives 5 Principal office address Block A, 7 Eton Road, Sandhurst, 2196

FULL MEMBER Principal office address Sandton Eye 11th Floor, Cnr Rivonia Street and West Street, FULL MEMBER Key contact person and designation [email protected] Sandton, 2196 Telephone +27 11 883 3766 Key contact person and designation Nokuthula Mthomothi; E-mail [email protected] Bafedile Mafologele Website www.sasmefund.co.za Telephone +27 11 318 0171 FUND DETAILS E-mail [email protected] Name of fund The SA SME Fund Limited Website www.sampada.co.za Committed capital of fund R1.4 billion FUND DETAILS Fund structure Public company Name of fund Sampada Private Equity Fund Nature of fund VC, SME growth and impact Committed capital of fund R366 million Number of portfolio companies N/A Fund structure Partnership INVESTMENT PREFERENCES Nature of fund General Minimum investment R25 million Number of portfolio companies 5 Maximum investment R125 million Average current investment size R100 million INVESTMENT PREFERENCES Industry preference None Minimum investment R10 million * Industries excluded Note 1 Average current investment size R80 million Investment stage preference Early stage VC to SME growth capital Industry preference Commercial Property, Traveling and Leisure and Education Investment stages excluded Replacement capital Industries excluded Mining and Renewable Energy Minimum and maximum equity usually taken N/A Investment stage preference Growth, Expansion and Turnaround Geographical preferences South Africa Investment stages excluded Growth, Expansion, Maturity * NOTE 1: INVESTMENTS EXCLUDED Minimum and maximum equity usually taken Minimum 50% 1.1 production or activities involving harmful or exploitative forms of forced labour or harmful child labour. In this context Geographical preferences South Africa “forced labour” means all work or service, not voluntarily performed, extracted from an individual under threat of force or penalty and “harmful child labour” means the employment of children that is economically exploitative, or is likely FUND DETAILS to be hazardous to, or to interfere with, the child’s education, or to be harmful to the child’s health, or mental, spiritual, Name of fund Sampada Private Equity Fund II moral or social development; 1.2 production or trade in any product or activity deemed illegal under host country laws or regulations or international Fund structure Partnership conventions and agreements; Nature of fund General 1.3 trade in wildlife or wildlife products regulated under the Convention on International Trade in Endangered Species of Wild Fauna and Flora; INVESTMENT PREFERENCES 1.4 production or trade in radioactive materials, excluding the purchase of medical equipment, quality control Minimum investment R10 million (measurement) equipment and any equipment where the radioactive source is trivial and/or adequately shielded; Industry preference Travelling and Leisure and Retail Property 1.5 commercial logging operations or the purchase of logging equipment for use in primary tropical moist forest or carrying on business in a country which is not compliant with the International Tropical Timber Agreement; Industries excluded Mining and Renewable Energy 1.6 production or trade in pharmaceuticals subject to international phase out or bans; Investment stage preference Growth, Expansion and Turnaround 1.7 the production, processing or distribution of illegal drugs or substances; Investment stages excluded Growth, Expansion, Maturity 1.8 production or trade in ozone depleting substances subject to international phase out; 1.9 any investment that is involved in or seeks in any way to benefi t from any corrupt activity; Minimum and maximum equity usually taken Minimum 60% 1.10 trading in rough diamonds with any country which is not a Participant (as defi ned in the Kimberley Process Geographical preferences South Africa FULL MEMBER The SA SME Fund Limited SA The Certifi cation Scheme) in the Kimberley Process Certifi cation Scheme; Equity (Pty) Ltd Sampada Private

112 114 115 Sanari Capital Sanlam Private Equity

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2013 Year fund started 2001 Type of fund manager Independent Type of fund manager Captive Regulatory license number FSP # 45074 Total number of investments to date 3 Regulatory license number FSP number 579 Number of investment executives 3 Total number of investments to date 52 Principal office address 90 Grayston Drive, Sandton, Johannesburg Number of investment executives 7 FULL MEMBER Key contact person and designation Samantha Pokroy FULL MEMBER Principal office address 4th Floor, 11 Alice Lane, Sandton, 2196, Johannesburg Telephone +27 76 456 3339 E-mail [email protected] Key contact person and designation Alton Solomons; Website www.sanari.co.za Rene Schutte FUND DETAILS Telephone +27 11 778 6613/6642 Name of fund Sanari Growth Partners Fund I E-mail [email protected] Committed capital of fund Undisclosed Website www.spe.sanlam.com Fund structure Section 12J Nature of fund SME Investment Fund Number of portfolio companies 3 FUND DETAILS INVESTMENT PREFERENCES Name of fund Notional funds Minimum investment R10 million Committed capital of fund R2.8 billion Maximum investment R40 million Average current investment size Undisclosed Fund structure Company Industry preference Supplies and services, consumer, technology, education, healthcare Nature of fund Expansion, growth and buy-outs Industries excluded Real estate, fi nancial services, gambling, liquor, tobacco, arms, mining Number of portfolio companies 22 Investment stage preference Growth equity, platform investments, buyouts, late stage venture capital Investment stages excluded Start-up / seed capital Minimum and maximum equity usually taken Minimum 20%, maximum 70% INVESTMENT PREFERENCES Geographical preferences South Africa with growth prospects in sub-Saharan Africa or globally Minimum investment R100 million FUND DETAILS Maximum investment R350 million Name of fund Sanari Capital Average current investment size R150 million Committed capital of fund Capital raising Fund structure Partnership Industry preference No preference Nature of fund Lower Mid Market investment fund Industries excluded Property, mining, primary agriculture and core infrastructure Number of portfolio companies 0 Investment stage preference Late stage INVESTMENT PREFERENCES Investment stages excluded Seed Capital and start-up Minimum investment R50 million Maximum investment R200 million Minimum and maximum equity usually taken 20 - 100% Industry preference Supplies and services, consumer, technology, education, healthcare Geographical preferences Southern Africa Industries excluded Real estate, gambling, liquor, tobacco, arms, mining Investment stage preference Growth equity, platform investments, buyouts REMARKS Investment stages excluded Start-up / seed capital Minimum and maximum equity usually taken Minimum 25%, maximum 100% Sanlam Private Equity (SPE) is the private equity division of Sanlam Life Insurance Ltd. SPE’s current investment portfolio comprises 22 investments with a fairly broad sector exposure, incl investments in the ICT, infrastructure, Geographical preferences South Africa and incrementally into the rest of Sub-Saharan Africa agribusiness, manufacturing, media, construction and diversified industrial sectors. SPE is sector agnostic with REMARKS certain exclusions - most notably primary agriculture, extractive industries and real estate. Sanari Capital, a lower-middle market private equity fi rm, specialises in founder-run, owner-managed and family- owned businesses. We bring corporate best practice to entrepreneurial settings and a sense of ownership to highly FULL MEMBER

Sanari Capital corporate environments through custom private equity solutions. Sanari Growth Partners focuses on medium size Sanlam Equity Private businesses with a strong growth agenda, be it organic or acquisitive, and offers favourable tax benefi ts to investors as a Section 12J investment vehicle. Both funds confer black ownership and black women ownership to investments. 116 117 Sasfin Private Equity Fund Managers Savant Fund Manager

FUND MANAGER DETAILS FUND MANAGER DETAILS Number of investment executives 4 Year fund started 2019 Principal office address 29 Scott Street, Waverley, 2090 Type of fund manager Cat 1 Key contact person and designation Neil Eppel; Regulatory license number 49359 Juanett Barnard Total number of investments to date 2 Telephone +27 11 809 7500 Number of investment executives 3 FULL MEMBER E-mail [email protected] FULL MEMBER Principal office address 2 Francis Street, Zonnebloem Website www.sasfin.com Key contact person and designation Nick Allen Telephone +27 21 418 9010 FUND DETAILS E-mail [email protected] Name of fund Sasfin Private Equity Fund Website www.savant.co.za Committed capital of fund circa R500 million Nature of fund General Private Equity FUND DETAILS Number of portfolio companies 10 Name of fund Savant Venture Fund Committed capital of fund R 11 450 000,00 INVESTMENT PREFERENCES Fund structure En Commandite Partnership Minimum investment R10 million Nature of fund Early-stage VC Maximum investment R40 million Number of portfolio companies 2 Average current investment size R40 million Industry preference General INVESTMENT PREFERENCES Industries excluded Direct resources Minimum investment R2 500 000,00 Investment stage preference MBO, development and expansion, replacement, Maximum investment R15 000 000,00 selective turnaround Average current investment size R5 725 000,00 Minimum and maximum equity usually taken 20% to 49% Industry preference Hardware Technology Geogr§aphical preferences South Africa Industries excluded Software; non-tech Investment stage preference Early-stage REMARKS Investment stages excluded Late-stage We are value add proactive fund managers with a focus on corporate finance, corporate strategy, corporate governance, performance enhancement, sourcing and implementation of acquisitions and assistance with Minimum and maximum equity usually taken 25.1% - 75% business development. Geographical preferences South Africa FULL MEMBER Sasfin Private Equity Fund Managers Sasfin Private Savant Fund Manager

118 119 Senatla Capital Sithega

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2010 Year fund started 2018 Type of fund manager Independent Type of fund manager Mid-sized Private Equity Regulatory license number 43133 Total number of investments to date 10 Regulatory license number Juristic representative on AHI investments FSP 636 Number of investment executives 5 Total number of investments to date 1 Principal office address 9th floor, The Forum, 2 Maude Street, Sandton Number of investment executives 3 FULL MEMBER Key contact person and designation Owen Maubane; FULL MEMBER Principal office address Suite 7, 1st Floor, Katherine & West Building, 114 West Street, Tholang Tholo Sandton, 2196 Telephone +27 11 784 5929 Key contact person and designation Rayna Dolphin ( Principal) E-mail [email protected] Website www.senatlacapital.com Telephone 110 442 608 FUND DETAILS E-mail [email protected] Name of fund Senatla Capital Empowerment Fund I Website www.sithega.co.za Committed capital of fund R110 million (closed and fully invested) Fund structure Partnership FUND DETAILS Nature of fund Growth Capital, Mezzanine Debt and Secondary BEE focused private equity Name of fund Sithega Financial Services Fund Number of portfolio companies 6 Committed capital of fund R300 million ( target is R600 million - R1 billion) INVESTMENT PREFERENCES Nature of fund Financial Services Fund Minimum investment R10-20 million Number of portfolio companies 1 ( Target 4) Maximum investment R25 million Average current investment size R20 million INVESTMENT PREFERENCES Industry preference None Industries excluded Primary mining and agriculture Minimum investment R100 million Investment stage preference Late stage Maximum investment no maximum Investment stages excluded Early stage Average current investment size R180 million Minimum and maximum equity usually taken 20% to 100% Industry preference Non-banking financial services Geographical preferences South Africa only mandate Industries excluded non-financial services FUND DETAILS Name of fund Senatla Capital Empowerment Fund II Investment stage preference Established companies, brownfields Committed capital of fund R200 million (closed) Investment stages excluded Greenfields excluded Fund structure Partnership Minimum and maximum equity usually taken minimum 25% Nature of fund Growth Capital and Mezzanine Debt focused private equity Geographical preferences South Africa Number of portfolio companies 5 INVESTMENT PREFERENCES Minimum investment R40 million Maximum investment R110 million Industry preference General mandate Industries excluded Primary mining and agriculture Investment stage preference Late stage Investment stages excluded Early stage Minimum and maximum equity usually taken 25%-100% Geographical preferences South Africa only mandate FULL MEMBER

Senatla Capital REMARKS Sithega Currently raising our Fund III, which is also focused on Growth Capital and Mezzanine Debt. First Close targeted or 2017. 120 121 South Suez Capital Ltd Stockdale Street Propriety

FUND MANAGER DETAILS FUND MANAGER DETAILS

Year fund started 2010 Year fund started 2004 Type of fund manager Independent Type of fund manager Captive Regulatory license number FSB 41613 FSC C109007919 Total number of investments to date 20 Total number of investments to date 18 Number of investment executives 4 Number of investment executives 5 Principal office address 6 St Andrews Road, Parktown, Johannesburg, South Africa FULL MEMBER FULL MEMBER Principal office address Suite 101, Grand Bay Business Park, Grand Bay, Mauritius Key contact person and designation Paul Salomon; Sajeet Giga Key contact person and designation Shane Rogel Prisila Pomosawmy Telephone +27 11 274 2000 Telephone 230 263 1491 E-mail [email protected] E-mail [email protected] Website www.southsuez.com FUND DETAILS FUND DETAILS Name of fund Stockdale Street Name of fund South Suez Africa Fund Ltd (SSAF I) Committed capital of fund Open-ended Committed capital of fund US$ 277.7 million Fund structure Fund of fund Fund structure Partnership Nature of fund Growth and expansion capital, buy-outs Nature of fund Growth capital, expansion capital Number of portfolio companies Not disclosed INVESTMENT PREFERENCES Maximum investment 20% in Secondary investment, 20% in Co-investment and 30% in Single Underlying Fund INVESTMENT PREFERENCES Industry preference Financial services, consumer, telecom, media & technology, oil & Minimum investment R200 million gas, industrials and real estate Maximum investment No maximum Investment stage preference Growth Capital, replacement capital, greenfield/ brownfield, Average current investment size Not disclosed leveraged acquisitions Industry preference All Geographical preferences Southern Africa, North Africa, Pan Africa, South Africa, East Africa, West Africa, Nigeria Industries excluded Alcohol, tobacco, gaming, arms

FUND DETAILS Investment stage preference Later stage Name of fund South Suez Managed Account II LP Minimum and maximum equity usually taken Flexible Committed capital of fund US$ 462.8 million Geographical preferences Businesses emanating from South Africa Fund structure Fund of Fund Nature of fund Growth capital, expansion capital REMARKS INVESTMENT PREFERENCES Stockdale Street represents the South African private equity interests of the Oppenheimer Family, which has four generations of investing experience on the African continent. We are long-term, responsible investors looking Maximum investment 30% in Secondary investment, 30% in Co-investment and 30% in to invest alongside strong management teams in established companies that have sustainable competitive Single Underlying Fund advantages and favourable growth prospects. We are supportive, value-adding partners who provide access to Industry preference Financial services, consumer, telecom, media & technology, unique and extensive local and international networks, follow-on capital and deep strategic insights. oil & gas, industrials and real estate

Investment stage preference Growth Capital, replacement capital, greenfield/ brownfield, leveraged acquisitions

Geographical preferences Southern Africa, North Africa, Pan Africa, South Africa, East Africa, West Africa, Nigeria South Suez Capital Ltd Propriety Street Stockdale

122 123 124 112 Summit Private Equity FULL MEMBER Summit Private Equity a pipelinewithproprietary transactionsthatitwilllookto execute. Launched in2016SummitPEiscurrently raisingafundto dodealsintheMidCapspace.The team have secured Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industry preference Maximum investment Minimum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Name offund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date Type offundmanager Year fundstarted REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS South Africa 0.25 Growth Capital Financial Services,Education,ICT, Healthcare R500m R100m 2 Majority/Significant MinorityShareholding Partnership R450m Summit Private EquityFund www.summitafrica.com [email protected] +27 108801812 Langa Madonko Sandhurst West Wing,3rd Floor,OneVdara Building,41Rivonia Road, 6 0 Independent 2016 defendable core competences. from theeconomicrecovery ofZimbabwe.Takura business opportunitiesthathave clearand targets callable focuses oncompanies positionedadvantageouslyincommercially attractive industries thatare benefiting businesses ratherthanbuyingoutexisting investors. Takura isanactive andtransformational investor and Takura Capitaltakes significantormajoritystakes inprivate enterprises, favouring capitalinjectioninto Minimum investment Name offund Year fundstarted Geographical preferences Minimum andmaximumequityusuallytaken Investment stagepreference Industries excluded Industry preference Average current investment size Maximum investment Number ofportfoliocompanies Nature offund Fund structure Committed capitaloffund Website E-mail Telephone Key contactpersonanddesignation Principal officeaddress Number ofinvestment executives Total numberofinvestments to date Type offundmanager REMARKS INVESTMENT PREFERENCES FUND DETAILS FUND MANAGER DETAILS Mozambique andTanzania DRC,Angola, Zimbabwe, Zambia,Botswana,Malawi, Between 26%to 100% capital,privatisation,turnaroundreplacement &restructuring Start-up, earlystages,expansion &development, buy-out&buy-in, Primary agriculture, primarymining,gaming,tobacco, armaments services, tourism food &beverage, health/pharmaceuticals,ICT, miningservices, Agro-processing, construction&buildingproducts, FMCG, US$3.1 million(R42million) US$7.5 million(R104million) US$4 million(R41million) 10 Generalist Other US$30.3million (R243million)/US$45.45million(R630million) Takura Ventures /Takura II www.takuracapital.com [email protected] +263 242707313/341 +263 8677007011or Stephanie McManus Gaylord Nyamayi; 153 JosiahChinamanoAvenue, Harare, Zimbabwe 4 10 Independent 2011 Takura CapitalPartners

125 Takura Capital Partners FULL MEMBER Tamela Holdings (Pty) Ltd Tana Africa Capital Managers

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2008 Year fund started 2011 Type of fund manager Independent Regulatory license number 44568 Regulatory license number 42038 Total number of investments to date 5 Total number of investments to date 11 Number of investment executives 7 Number of investment executives 3 Principal office address 6 St Andrews Road, Parktown, Johannesburg, South Africa FULL MEMBER FULL MEMBER Principal office address Ground Floor, Golden Oak House, Ballyoaks Office Park, Key contact person and designation Daria Katemauswa 35 Ballyclare Drive, Bryanston, Johannesburg Duncan Randall

Key contact person and designation Sydney Mhlarhi; Telephone +27 (0)11 274 2130 Tshepisho Makofane E-mail [email protected] Telephone +27 11 783 5027 Website www.tana-africa.com E-mail [email protected] Website www.tamela.co.za FUND DETAILS Name of fund Tana Africa Capital Limited FUND DETAILS Tana Africa Capital II Limited

Name of fund On balance sheet Committed capital of fund US$390 million Fund structure Company Fund structure Private company Nature of fund Equity and mezzanine investments Nature of fund Growth and expansion capital Number of portfolio companies 9 Number of portfolio companies 4

INVESTMENT PREFERENCES INVESTMENT PREFERENCES Minimum investment R5 million Minimum investment US$20 million Maximum investment None Maximum investment US$75 million Industry preference Healthcare, Manufacturing, Financial Services Average current investment size Not disclosed Industries excluded Primary agriculture, mining exploration Industry preference Consumer driven industries and agriculture Investment stage preference None Industries excluded Alcohol, tobacco, gaming, arms Investment stages excluded Start up Investment stage preference Later stage Minimum and maximum equity usually taken Flexible Minimum and maximum equity usually taken Flexible Geographical preferences SADC region Geographical preferences Nigeria and Egypt; Francophone West and Central Africa; North Africa, in particular Morocco, Algeria, Tunisia; and Eastern Africa

REMARKS Tamela Holdings (Pty) Ltd is a black-owned and managed investment company established by Vusi Mahlangu and REMARKS Sydney Mhlarhi. It applies proven investment strategies to invest in the healthcare, engineering, manufacturing, Tana Africa Capital investment companies are Africa-focused investment companies founded by the Oppenheimer industrial and financial services sectors. It primarily focuses on companies in which it can ideally partner management family and Temasek. Through the medium of capital and business building support, Tana aims to build African to add value and grow the business. The Tamela team has a proven track record of creating long-term partnerships businesses for generations to come. Tana is able to draw on the rich heritage, vast experience and extensive with management and shareholders of its investee companies. networks of its founding shareholders as well as the on-the-ground African knowledge and operating experience of its management team. Tamela Capital Partners Tamela Africa Capital Managers Tana

126 127 Third Way Investment Partners Trinitas Private Equity

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2015 Year fund started 2010 T ype of fund manager Partnership Type of fund manager Independent Total number of investments to date Fund raising Regulatory license number 43242 Number of investment executives 2 Total number of investments to date 7 Principal office address 1st Floor, 11 Crescent Drive, Melrose Arch Number of investment executives 4 FULL MEMBER FULL MEMBER Key contact person and designation Fulu Makwetla; Principal office address 1 Melrose Blvd, Suite 2, Melrose Arch, 2196, Johannesburg Bongani Buhlalu Key contact person and designation Andrew Hall; Telephone +27 11 684 1192 Yousuf Sujee E-mail [email protected] Telephone +27 11 994 9700 Website www.twip.co.za E-mail [email protected] Website www.trinitaspe.co.za FUND DETAILS Name of fund TWIP Core Plus Fund FUND DETAILS Committed capital of fund Raising R3 billion Name of fund Trinitas Private Equity Fund Fund structure Partnership Committed capital of fund R670 million Nature of fund Infrastructure Debt F.O.F Fund structure General partner, pension funds, banks, fund managers, parastatals Nature of fund Mid-market private equity, including leveraged-buy-out, growth capital, expansion capital INVESTMENT PREFERENCES Number of portfolio companies 7 Minimum investment R50 million Maximum investment 25% of total commitment INVESTMENT PREFERENCES Average current investment size Large tickets Minimum investment R40 million Industry preference Renewable energy and other infrastructure Maximum investment R150 million Investment stage preference Greenfield and Brownfield projects Average current investment size R53 million Minimum and maximum equity usually taken Maximum 5% of portfolio (as this is a debt fund) Industry preference Industry agnostic with a preference for manufacturing, services, Geographical preferences South Africa retail, industrial

Industries excluded Direct resources REMARKS Investment stage preference Mature, cash generative Third Way Investment Partners is a leading, independent multi-asset class investment fund manager, focused Investment stages excluded Seed, early stage, venture capital exclusively on Africa. Its first fund is an Infrastructure Fund of funds providing seamless diversified access to this asset class, for its institutional clients. It has a well-resourced investment team, supported by internationally experienced Minimum and maximum equity usually taken Minimum of significant influence (>25%). No maximum investment committee and technical advisors. Geographical preferences South Africa, with allocation to Sub-Saharan Africa

Third Way Investment Partners is South African and is 100% black owned and managed, with a level 1 Broad Based Black Economic Empowerment (“B-BBEE”) accreditation. REMARKS Trinitas is an independent private equity advisor, founded in 2008. The founding executives of the Fund are Andrew Hall, John Stipinovich and Soteris Theorides, who have worked together as a private equity team since 2001. Trinitas Private Equity Fund seeks to partner management teams to make equity investments in mid-market companies in Southern Africa. Third Way Investment Partners (TWIP) Investment Way Third Equity Private Trinitas

128 129 Vantage Capital Group VPB (Pty) Ltd / Temo Capital

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2006 Year fund started 2004 Type of fund manager Independent Type of fund manager Independent Regulatory license number VC Fund Managers (FSP # 28711); Regulatory license number 15/UIM/03 Vantage Mezzanine III (FSP # 45610) Total number of investments to date 2 Total number of investments to date 18 Number of investment executives 6 Number of investment executives 15 Principal office address Plot 2664, Phuti Cresent, Ext 9, Gaborone, Botswana/Unit 6, FULL MEMBER FULL MEMBER Principal office address 3 Melrose Boulevard, Ground Floor, Melrose Arch, 2076 19 Trift Place, Cnr of Trift & Schinz Streets, Windhoek, Namibia Key contact person and designation Luc Albinski; Wiseman Magabane Key contact person and designation Anthony Siwawa Telephone +27 11 530 9100 Daudi Mtonga E-mail [email protected] Telephone +267 318 1012; +264 61 220 069 Website www.vantagecapital.co.za E-mail [email protected]; [email protected] FUND DETAILS Website www.venture-p.com Name of fund Vantage Mezzanine Fund II FUND DETAILS Committed capital of fund R1.9 billion Name of fund CEDA Venture Capital Fund Fund structure Partnership Committed capital of fund P200 million Nature of fund Mezzanine debt for buy-outs, growth capital, refinancing and BEE Fund structure Company Number of portfolio companies 10 Nature of fund General INVESTMENT PREFERENCES Number of portfolio companies Exited Minimum investment R50 million INVESTMENT PREFERENCES Maximum investment R350 million Minimum investment N$20 million Maximum investment N$70 million Average current investment size R125 million Average current investment size Fund raising Industry preference None Industry preference General Industries excluded Primary agriculture, junior mining, businesses selling arms Industries excluded None Investment stage preference Early stage, development capital, expansion stage and projects Investment stage preference Private equity excluding secondary purchases Investment stages excluded None Investment stages excluded Start-ups Minimum and maximum equity usually taken 0% to 49% Minimum and maximum equity usually taken 26% to 49% Geographical preferences 65% to South Africa and 35% to Rest of Africa Geographical preferences Botswana FUND DETAILS FUND DETAILS Name of fund Vantage Mezzanine Fund III Name of fund VPB Namibia Growth Fund Trust Committed capital of fund R1.7 billion and US$125 million Committed capital of fund N$160 million Fund structure Partnership Fund structure Trust Nature of fund Mezzanine Nature of fund Buyout Number of portfolio companies 4 Number of portfolio companies 2 INVESTMENT PREFERENCES INVESTMENT PREFERENCES Minimum investment R50 million and US$5 million Minimum investment N$5 million Maximum investment R300 million and US$30 million Maximum investment N$32 million Average current investment size R150 million and US$20 million Average current investment size N$32 million Industry preference None Industry preference General Industries excluded Primary agriculture, junior mining, businesses selling arms Industries excluded None Investment stage preference Early stage, development capital, expansion stage and projects Investment stage preference Private equity excluding secondary purchases Investment stages excluded None Investment stages excluded Start-ups Minimum and maximum equity usually taken 0% to 49% Minimum and maximum equity usually taken 26% to 49% Geographical preferences 0% to 49% South Africa and Rest of Africa Geographical preferences Namibia

Vantage Capital Group Vantage REMARKS REMARKS Capital / Temo VPB (Pty) Ltd Vantage’s Fund I has been largely realised. VPB, is raising its third and fourth funds in Botswana and Namibia respectively. 130 131 Vuwa Investments (Pty) Ltd Westbrooke

FUND MANAGER DETAILS FUND MANAGER DETAILS Year fund started 2006 Year fund started 2015 Type of fund manager Section 12J VCC Type of fund manager Captive Regulatory license number FSP46750 Regulatory license number FSB29450 Total number of investments to date 24 Total number of investments to date 25 Number of investment executives 7 Number of investment executives 6 Principal office address Westbrooke House, 32 Impala Road, Chislehurston, Sandton, 2196 FULL MEMBER FULL MEMBER Principal office address 21 Impala Road, Chislehurston, Sandton, 2196 Key contact person and designation Jonti Osher; Dino Zuccollo Telephone +27 11 245 0860 Key contact person and designation Martin Buchalte; Lungisa Dyosi E-mail [email protected]; [email protected] Website www.westbrooke.co.za Telephone +27 11 783 5356 FUND DETAILS E-mail [email protected] Name of fund Westbrooke Aria Website www.vuwa.co.za Committed capital of fund R750 million Fund structure Company Nature of fund Section 12J Venture Capital Company - growth capital / expansion capital Number of portfolio companies 18 INVESTMENT PREFERENCES Minimum investment R1 million Maximum investment R50 million Industry preference All industries Industries excluded Financial institutions, consulting and advisory services, gambling, liquor, tobacco, arms or ammunition and mining Investment stage preference Growth capital, expansion capital Minimum and maximum equity usually taken Investment dependent Geographical preferences South Africa FUND DETAILS Name of fund Westbrooke Capital Hospitality Committed capital of fund R450 million Fund structure Company Nature of fund Section 12J Venture Capital Company - Hospitality Number of portfolio companies 6 INVESTMENT PREFERENCES Minimum investment R1 million Maximum investment R50 million Industry preference All industries Industries excluded Financial institutions, consulting and advisory services, gambling, liquor, tobacco, arms or ammunition and mining Investment stage preference Growth capital, expansion capital Geographical preferences South Africa REMARKS Westbrooke Alternative Asset Management (WAAM) is a multi-asset, multi-strategy manager of investment funds and products structured to create and preserve wealth for its clients, partners, managers and shareholders through

investments in private equity, listed equity, property and credit. FULL MEMBER Vuwa Investments (Pty) Ltd Vuwa Investments Asset Management Alternative Westbrooke

112 132 133 Adept Advisory (Pty) Ltd Aurik Enterprise Development CONTACT DETAILS CONTACT DETAILS Key contact person and designation Justin van Lienden; Key contact person and designation Pavlo Phitidis; Sonja Von Poncet Nic Snell

Physical Address Graysands Office Park, 145 2nd Street, Sandton; Physical Address 132 Jan Smuts Ave, Parkwood Boundary Terraces, 1 Mariendahl Avenue, Cape Town Telephone +27 11 447 5575 Telephone +27 11 325 2350 (JHB); E-mail [email protected] +27 21 701 7774 (CPT) Website www.aurikesd.co.za E-mail [email protected]

Website www.adeptadvisory.co.za COMPANY DETAILS Type of firm Enterprise and Supplier Development Solutions COMPANY DETAILS

Type of firm Consulting/Advisory REMARKS Aurik also works with SA Corporates and Multinationals through BEE Enterprise and Supplier Development REMARKS programmes to deliver on supply chain, financial and transformation needs. Aurik’s approach recently won Make Experience Count. Adept Advisory delivers risk advisory, finance operations, and digital solutions across international best practice recognition in London at the Global Procurement Awards. Aurik also works with angel

Adept Advisory (Pty) Ltd Advisory Adept Africa. We have proven expertise in due diligence pre-acquisition for General Partners, as well as embedding funders through an equity fund incorporating business growth support to mitigate SME risk and manage returns. Development Aurik Enterprise governance, project management, performance, risk management and enabling technology in portfolio companies. Our flexible, personalised solutions are developed by our highly experienced and globally aligned team. We are new-code-generic Level-2 BBBEE.

Allen & Overy (South Africa) LLP Bowmans MEMBER MEMBER

ASSOCIATE ASSOCIATE CONTACT DETAILS CONTACT DETAILS ASSOCIATE Key contact person and designation Lionel Shawe Key contact person and designation John Bellew Tamsin Freemantle Buhle Nhlangulela

Physical Address 90 Grayston, 90 Grayston Drive, Sandton Physical Address Johannesburg: 11 Alice Lane, Sandton Cape Town: 22 Bree Street Telephone +27 10 597 9850 Durban: 1st Floor Compendium House, Harry Gwala Road, Westville. E-mail [email protected] Telephone Johannesburg: +27 11 669 9000 Website www.allenovery.com Cape Town: +27 21 480 7800 Durban +27 31 265 0651

COMPANY DETAILS E-mail John Bellew([email protected]) Type of firm Law firm Website www.bowmanslaw.com

REMARKS COMPANY DETAILS Allen & Overy’s Johannesburg offi ce provides clients with support in South Africa and across the wider sub-Saharan Type of firm Law firm Africa region. Our market-leading South African and English law-qualified team are experts in banking, finance, energy, aviation, infrastructure and mining, and are complemented by an on the ground English law team of City REMARKS of London banking lawyers. The team works closely with our established network of local law fi rms on the African continent. We are a Level Three Broad-Based Black Economic Empowerment Contributor. Bowmans operates through six offices in four African countries. This, combined with its independence, makes it well-placed to assist clients navigate the complexities of investing in Africa. The firm provides bespoke upstream and downstream services to the private equity sector and prides itself on its creativity and commercial approach. Members of the team have advised on some of the largest transactions undertaken in the region and have been Allen & Overy (South Africa) LLP Allen & Overy involved in the formation of various Africa-focused funds. Bowmans

134 135 136 ASSOCIATE Compi-Serve (Pty) Ltd MEMBER Cliffe Dekker Hofmeyer Inc Compli-Serve (Pty)Ltd Cliffe Dekker Hofmeyr Inc efficiently andpragmatically,withmanagementteams andBEEinvestors firmlyonboard. led byexperts. This ensures thatfundstructures are optimisedandportfolioacquisitionsexits are concluded into theprivate equitysector. We tailorourservicesthrough dedicated, full-serviceandbespoke teams thatare working together withLPs,GPs,portfoliocompaniesandmanagementteams, wehave gainedinvaluableinsight At CDHwebelieve thatconsistency, knowledgeofourclientsanddeepexperience setsusapart.Through Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation COMPANY DETAILS COMPANY DETAILS CONTACT DETAILS Compli-Serve isaprovider complianceservices to ofregulatory thefinancialservicesindustry. Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS Law Firm www.cliffedekkerhofmeyr.com [email protected] +27 115621667 Sandton1 Protea Place, Mark Linington (HeadofPrivate Equity) Compliance Provider www.compliserve.co.za [email protected] +27 836316570 +27 861273783; 106 JohanAvenue, Dennehof,Sandton, 2196 Jan Scholtz(Director) specialising inadvisingclientsthroughout thetransactionlifecycle. Deloitte isalevel 2BBBEE. to publicandprivate clientsspanningmultipleindustries.Deloitte hasdedicated private equityprofessionals problems. Deloitte provides services audit,consulting,financial advisory,riskmanagement,taxandrelated professionals whoare committed to delivering innovative, value-addedsolutionsto often complex business Deloitte Africa’scomprehensive networkacross 53markets onthecontinentemployshighestcaliber Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS and finally,preparing forexit. fundraising, systems implementation,duediligence,workingwithportfolio companies, monitoring andreporting, LondonandNewYork,Nairobi, Lagos,Accra,Dubai,Casablanca, we assistclientsintegrate ESGandimpactinto asset managers,banksandimpactinvestors asclientssince1999. WithofficesinJohannesburg, CapeTown, institutions andPEmanagersonapan Africanbasis,withover 70private equityfundmanagers,pensionfunds, EBS Advisoryistheleadingenvironmental, socialandgovernance (ESG)andimpactadvisorto financial Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS Multidisciplinary professional servicesfirm www.deloitte.com [email protected] [email protected]; +2711 2098087 +2711 2098615; OffiWoodlands cePark, Woodmead Sean McPhee Consulting/Advising Firm www.ebsadvisory.com [email protected] +27 118886043 4th Floor,165West Street, Sandown,Sandton GrantCornish-Bowden James Brice; Deloitte Corporate Finance EBS Advisory 137 EBS Advisory ASSOCIATE Deloitte Corporate Finance MEMBER 138 ASSOCIATE Ethos Mezzanine Partners MEMBER ENSafrica ENSafrica Ethos MezzaninePartners equity andventure capitalthroughout Africa. focus. ENSafricaoffersacomprehensive rangeofprofessional to servicesto allaspectsofprivate clientsinrelation tax, forensics andIP,benchmarksitselfaccording to international standards whileretaining auniquelyAfrican has asignificantbreadth anddepthofexperience andspecialistexpertise thatspansallcommercial areas of law, firm withover 600practitionersandwasestablishedover 100years ago.The law ENSafrica isAfrica’slargest firm Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS meet theuniquerequirements ofeachtransaction. Development Community) to develop customised andinnovative mezzanine debtfinancingsolutions,tailored to focusontheEastAfrican CommunityandtheSouthernAfricanteams across Sub-SaharanAfrica(withaparticular strategy withentrepreneurs, isto collaborate sponsors,mandated leadarrangersandexperienced management pioneered mezzaninedebtportfoliomanagement inSub-SaharanAfrica.The central themeofitsinvestment Ethos MezzaninePartners,founded in 2005asaspecialistmanagerofclosed-endmezzanine-debtfundshas Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS Law firm www.ENSafrica.com [email protected] +27 112697600 150 West Street, Sandton, Johannesburg, 2196 Priya Govender Lydia Shadrach-Razzino; Manager ofmezzaninedebtfunds www.ethos.co.za [email protected] +27 113287465 35 Fricker Road,Illovo, Johannesburg, 2196,SouthAfrica Chelsea Wilkinson Walter Hirzebruch; clients. medium andsmallcompanies),government authorities,non-profit agencies,regulatory bodiesandindividual range ofclientsincludingcloseto halfoftheFortune100companies.We workwithcorporate clients(large, Our practicespansevery sector ofbusiness,industryandgovernment. We provide strategic adviceto abroad The firm hasofficesinVancouver, Calgary,Toronto, Ottawa,Montréal, QuébecCity,London, andJohannesburg. Fasken andlitigationfirmwithmore than700lawyers. Martineauisaleading international businesslaw Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation right EYresource across Africa. African leadershipteam. Ourclientsreceive consistent qualitystandards, asinglepointofcontactandthe portfolio companiesevolving requirements. EYAfricahasapresence in32Africancountriesledbyasingle processes, investment stewardship andportfoliocompaniesperformance.We canhelpmeetyour andyour EYs GlobalPrivate EquityCentre offersatailored approach to theuniqueneedsofPEfunds,theirtransaction Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS COMPANY DETAILS COMPANY DETAILS CONTACT DETAILS EY (Ernst&Young Advisory Services(Pty)Ltd) Full ServiceLawFirm www.fasken.com [email protected] +27 11586-6000 Inanda Greens, Building2,54Wierda Road,West Sandton, 2196 Sue Collier Phologo Pheko; Assurance, Tax, Transactions andAdvisory www.ey.com/za/privateequity [email protected] +27 117723000 102 Rivonia Road Quintin Hobbs Graham Stokoe; Fasken Martineau 139 Fasken Martineau ASSOCIATE EY (Ernst & Young Advisory Services (Pty) Ltd) MEMBER 140 ASSOCIATE Hogans lovells (South Africa) MEMBER FIS Global FIS Global Hogan Lovells (SouthAfrica) improve reporting anddecision-makingthrough turningdatainto insightsandsimplifyingcomplexity. monitoring to accountingandreporting. Investran enablesfirmsto increase operationalefficiency,reduce risk, formanagingtheentireintegrated private equitylifecycle, platform from managementand dealflow,relationship FIS’ private equitybusinessandtheInvestran familyofproducts provides GPs,LPsandServiceProviders withan Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS and thedissolutionoffunds. buy-outs, duediligence,portfoliocompany restructurings, bolt-ons,outsourcings, taxstructuring,exit strategies investments, co-investments, debt/equity/hybridandmezzaninefunding,refinancing, management andleveraged the entire fundlifecycle, including onfundformationinmultiplejurisdictions,cross-border acquisitions,disposals, our international offices.Clientsbenefitfrom oursolutions-oriented adviceonevery aspectofprivate equityfor Our private equityteam ispartofanextensive multi-practiceAfricanetworkofover 70specialists spread across Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation COMPANY DETAILS COMPANY DETAILS CONTACT DETAILS Technology andITservicescompany www.sungard.com/solutions/private-equity [email protected] +27 102017000 Sandton CityComplex 3,Sandton, SouthAfrica 5th Floor,The Atrium onFifthOffi ceBuilding,CnrFifthandMaudeStreet, David vanderWesthuizen Corporate andCommercial LawFirm www.hoganlovells.com [email protected] +27 115236014 22 Fredman Drive, Sandton, Johannesburg, 2196 Jeff Buckland settlement assuranceandriskmanagement. JSE offersafullyelectronic, tradingandclearingsystems, efficient,secure regulation, market withworldclass in theworldterms ofmarket capitalisationandisamemberoftheWorld FederationofExchanges (WFE).The years. Itconnectsbuyers andsellersinequity,derivative anddebtmarkets. The JSEisoneofthetop 20exchanges The Johannesburg Stock Exchange hasoperated forthetradingoffinancialproducts asamarket for130 place Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS such asfi neartandcryptocurrencies. alternative assets,withafocusonprivate equity,real estate andhedge. We alsospecialiseinnicheassetclasses and supportourclientslongterm strategic ambitions.We have expertise intheadministrationof traditionaland Guernsey, Jersey, Luxembourg,Cayman Islands, SouthAfricaandtheUK.We assistafundthrough itsentire lifecycle JTC FundServiceshasaproven trackrecord inadministering bothclosedandopen-endedfundsestablishedin Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation COMPANY DETAILS COMPANY DETAILS CONTACT DETAILS Securities Exchange www.jse.co.za [email protected] +27 115207000 One Exchange Square, GwenLane,Sandton Primary Markets Fund AccountingandAdministration www.jtcgroup.com [email protected] +27 215294860 South Africa,7441 Block BCenturyFalls,CenturyBoulevard, CenturyCity,Milnerton, Kobus Cronje Sharon Nel Johannesburg Stock Exchange (JSE) JTC 141 JTC ASSOCIATE Johannesburg Stock Exchange (JSE) MEMBER 142 ASSOCIATE Maitland Group MEMBER LinkdPro Maitland Group Maitland LinkdPro specialists. Group,utilising FIS’sInvestran wehave technology accessto and,withintheMaitland legal,taxandaccounting directors and investors. Servicesinclude fundestablishment,accounting,operation,investor services with over $250billionin AuA. Ourdedicated PEREteam provides anend-to-end servicetailored to fundmanagers, administration servicesto private, corporate andinstitutionalclients.We are privately ownedandfullyindependent isaglobaladvisory,administrationandfamilyoffiMaitland ce rm providing legal,fi fi duciary, investment andfund Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS left top-tier professional servicesfirmsandare nowconsulting independently. consultants, legalfinancialtechnology consultantsandindustrysector experts who business consultantsandexperts forproject-based work.Businessprofessionals includemanagement/strategy Africa’s firston-demandTalent whichconnectscompanieswitha networkoftop freelance CloudPlatform Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS Fund Services www.maitlandgroup.com [email protected] +27 829005615 18 Fricker Road,Illovo, Johannesburg, 2196 Andre leRoux Marketplace fortopMarketplace businessconsultantsandexperts www.linkdpro.com [email protected] 011 2269089 5 Thorn Tree CedarAvenue Place, West, Fourways,2191 Scelo Makhathini placement hubsinLondon,HongKong,placement Sydney andNewYork. Marshisanauthorisedfinancialservicesprovider. Transactional Riskresources basedinSouthAfricaleveraging theexpertise ofourglobalinsurancemarket into Marshistheonlyfirmwithdedicated theglobalinsurancemarketplace. to US$11,2billioninlimitplaced tax opinionandcontingentliabilitysolutions.In2015ourteam closedmore than450transactionsequating Our Transactional Riskteam provides M&Ainsurancesolutionssuch aswarrantyandindemnityinsurance, Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation COMPANY DETAILS COMPANY DETAILS CONTACT DETAILS that complianceprocesses are implemented appropriately. we have theoperationalability to accommodate anyclient,regardless ofwhere theiroffi cesand staffare, to ensure guidance, compliancemonitoring, reporting andupdates onindustrydevelopments. Withournationalfootprint, services providers andotherbusinessesin thefinancialservicesindustry.Ourincluderegulatory We riskmanagement solutionsforallcategories specialiseincompliance,licensing andregulatory offi nancial Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS Insurance Broking andRiskAdvisoryServicesImprovement www.marsh-africa.com [email protected] +27 828972706 +27 110607155; Alice Lane,Sandton, 2196 Cnr 5thStreet &Fredman Drive, Entrance1,Building Teri Solomon Guy Royston; Compliance Practice www.moonstonecompliance.co.za [email protected] +27 218838000 25 QuantumStreet, Technopark, Stellenbosch ,7600 Grethe Van Heerden Billy Seyffert Moonstone Compliance(Pty)Ltd Marsh Proprietary Limited 143 Moonstone Compliance (Pty) Ltd ASSOCIATE Marsh Proprietary Limited MEMBER 144 ASSOCIATE Norton Rose Fulbright South Africa Inc MEMBER NMT Capital (Pty) Ltd NMT Capital(Pty)Ltd Norton RoseFulbrightSouthAfricaInc deals where ithasasignifi cantinfl uenceorcontrol. Moyo. NMTisfocusedondealsinthegrowth andexpansion stageswithaproven profi thistory. The Group prefers Group’s inceptionin2002.The Foundingmembersofthecompanyare SangoNtsaluba,Thabiso andPeter Tlelai NMT CapitalisanInvestment Group whichhasactively concluded,managedandgrown Investments sincethe Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS We have extensive experience advisingonAfricanprivate equityfundstructures. to privateadviser inrelation equityfunds,offeringacomplete rangeoflegalservicesto bothGPsand LPs. corporates, commercial mining concernsandmultinationals.We banks,government bodies,large are aleading and officesinCapeTown, DurbanandJohannesburg. Ourclients includemajordomesticandinternational Norton RoseFulbrightSouthAfricaIncisoneofthetop legalpracticesinSouthAfricawithcloseto 300lawyers, Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation COMPANY DETAILS COMPANY DETAILS CONTACT DETAILS Investment Holding www.nmtcapital.co.za [email protected] +27 114831120 4 Parc NicolOfficePark,3001WilliamDrive, Bryanston ,2191 Baakile Motha Anele Mkhize Full ServiceLawFirm www.nortonrosefulbright.com [email protected] +27 116858500 15 AliceLane,Sandton, 2196 Louise Campion Shawn Barnett; in private equityacross allkey disciplines. leadership team andover 400partnersand9000professionals across Africa,wehave experience andexpertise services. PwChasapresence in34countriesAfrica,withafootprintcovering 66offices.WithasingleAfrica countries andover 223,000people,weare committed to delivering qualityassurance,advisory,legalandtax At PwCourpurposeisto buildtrustinsocietyandsolve importantproblems. Withanetworkoffirmsin157 Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation COMPANY DETAILS COMPANY DETAILS CONTACT DETAILS members have beeninvolved insomeofthemosthigh-profile private equityandempowermenttransactions. valued inexcess ofR80billion,includingsomethemostcomplex andground breaking transactions.Team excellent servicelevels. The team comprisesprofessionals whohave experience inpublicmarket transactions ourselves onadding value to ourclients’endeavours, through qualityofwork,personalattention ofpartnersand PwC LegalServicesSA isacorporate commercial legalpracticebasedinJohannesburg SouthAfrica.We pride Type offirm Website E-mail Telephone Physical Address Key contactpersonanddesignation REMARKS COMPANY DETAILS CONTACT DETAILS PricewaterhouseCoopers Legal(Pty)Limited Professional Services www.pwc.co.za [email protected]; [email protected] [email protected]; [email protected]; [email protected]; [email protected]; +27 117974000 2 EglinRoad,Sunninghill,Johannesburg, Gauteng Peter McCrystal Deon deVilliers; Legal Firm https://www.pwc.co.za/en/services/legal.html [email protected] +27 117974280 Johannesburg, 2196 3rd Floor, Melrose Arch, 30Melrose Blvd, Melrose North, Andrew Cadman PJ Hope; PwC 145 PwC Legal (pty) limited ASSOCIATE PwC MEMBER RisCura SANNE CONTACT DETAILS CONTACT DETAILS Key contact person and designation Adam Bennot; Key contact person and designation San-Marie Greeff (Director Business Solutions) Heleen Goussard Physical Address SANNE, Pier Place, Heerengracht Street, Foreshore, Cape Town, Physical Address 5th Floor, Montclare Place, Cnr Campground & Main Road, Claremont, South Africa, 8001 Cape Town, 7735 Telephone +27 21 402 1600 Telephone +27 21 673 6999 E-mail [email protected] E-mail [email protected] Website www.sannegroup.com Website www.riscura.com COMPANY DETAILS COMPANY DETAILS Type of firm We are recognised in the industry as being a leading global provider of administration services to the fast-growing alternative assets industry. Type of firm Unlisted Investment Services

REMARKS REMARKS RisCura is a leading provider of independent valuations to private equity funds, investment holding companies, SANNE is a leading global provider of outsourced alternative asset and corporate administration and reporting credit funds, banks and other investors in Africa. Our valuations are used for reporting to investors, to support services. Established for over 25 years, listed on the Main Market of the London Stock Exchange, we employ more RisCura SANNE investment decisions or create transparency in related party transactions. We work across the continent and than 1,200 people worldwide and administer in excess of £200 billion of assets. We deliver bespoke solutions collect a proprietary database of African deals to give us the greatest insight into valuations in Africa. to a highly valued international client base through a global network of regulated businesses within 15 leading financial jurisdictions spread globally across the Americas, EMEA and Asia-Pacific.

Risk Capital Advisors (RCA) SizweNtsalubaGobodo Inc. MEMBER MEMBER

ASSOCIATE ASSOCIATE CONTACT DETAILS CONTACT DETAILS ASSOCIATE Key contact person and designation Guy Miller; Key contact person and designation Anoosh Rooplal; Rick Glover Dumisani Manana

Physical Address Level 12 The Chifley Tower, Chifley Square, Sydney NSW 2000, Australia Physical Address 20 Morris Street East, Woodmead, 2191 Telephone +27 (0) 10500 9634; Telephone +27 11 231 0600 +61 430 906 230 E-mail [email protected] E-mail [email protected]; Website www.sng.za.com [email protected]

Website www.riskcapitaladvisors.com COMPANY DETAILS Type of firm Audit, Advisory and Forensics COMPANY DETAILS

Type of firm M&A Risks and Insurance Advisory COMPANY DETAILS SizweNtsalubaGobodo’s Corporate Finance division offers independent corporate fi nance and advisory services. REMARKS These include valuations, due diligence investigations, corporate advisory, mergers & acquisitions, capital raising With 80+ years of combined M&A insurance experience, RCA is the market leader in advising on and negotiating and stock exchange advisory. Cross-service offerings in the fi rm include taxation advisory, actuarial advisory, insurance and alternative risk transfer solutions for M&A transactions. With a wealth of experience in South Africa, IT advisory and corporate governance services. These divisions support the advisory team on deal execution Africa, Europe and across the Asia Pacific region, the RCA team members have advised on and closed more and risk management. The fi rm has a number of registered reporting accountant specialists, registered auditors, transactions in South Africa, Africa and AsiaPac than all other insurance advisers combined. The RCA team have and is registered on the JSE Register of Auditors. closed more than 500 transactions across a number of jurisdictions. Risk Capital Advisors (RCA) Risk Capital Advisors SizweNtsalubaGobodo Inc.

166 146 147 Thesele Group WDB Investment Holdings CONTACT DETAILS CONTACT DETAILS Key contact person and designation Oliver Peterson; Key contact person and designation Nicola Gubb; Angelique Roman-Lee Lauren Flack Physical Address 28 Fricker Road, Illovo, Sandton Physical Address 1st Floor, 28 Fricker Road, Illovo Boulevard, Illovo, 2196 Telephone +27 11 268 5540 Telephone +27 11 341 9900 E-mail [email protected] E-mail [email protected]; [email protected] Website www.thesele.co.za Website www.wdbinvestments.co.za

COMPANY DETAILS COMPANY DETAILS Type of firm Investment Holding Type of firm Investment Holdings Company

REMARKS REMARKS Thesele is a 100% black-owned investment holding company with more than a decade of valued experience. Established in 1996; women led, broad- based shareholding investment company, managing a portfolio of An impressive portfolio of high-quality assets is underpinned by expert service and advice. Our team’s listed and unlisted investments in key sectors. We participate in expansion and replacement capital, buyouts Thesele Group Thesele professionalism, investment knowledge, fi nancial understanding and astute application make Thesele and buy-ins, and black economic empowerment transactions. The main shareholder is the WDB Trust, a public Holdings WDB Investment the perfect partner for forward-thinking investors. Add value to your future with Thesele. benefit entity, which focuses on developing rural women and communities. We also make private equity investments in established family-owned businesses in consumer-focused sectors for up to 10 years.

Verdant Capital Webber Wentzel MEMBER MEMBER

ASSOCIATE ASSOCIATE CONTACT DETAILS CONTACT DETAILS ASSOCIATE Key contact person and designation Edmund Higenbottom; Key contact person and designation Nicole Paige; Edwin Siebani Brian Dennehy; Sally Hutton Physical Address Northview Building, 57 6th Road, Hyde Park, Sandton, 2196 Physical Address 90 Rivonia Road , Sandton , 2196 Telephone +27 10 140 3700 Telephone +27 11 530 5000 E-mail [email protected] E-mail [email protected]; Website wwww.verdantcap.com [email protected]; [email protected]

COMPANY DETAILS Website www.webberwentzel.com Type of firm Corporate Finance COMPANY DETAILS Type of firm Attorneys REMARKS REMARKS Verdant Capital is a specialist corporate fi nance fi rm with exception experience transacting across the African Webber Wentzel provides specialised legal and tax services to the private equity industry in Africa, including continent. Verdant Capital operates in two segments, Financial Institutions and Corporate Finance. It operates in relation to fund formation, acquisitions and disposals and management arrangements. We have been from offi ces in Johannesburg, Mauritius and Accra. Verdant Capital is authorised by the Financial Services consistently involved in the highest profile transactions in South Africa and have extensive experience in the Board in South Africa (FSP 44608) and licenced by the Financial Services Commission in Mauritius. The fi rm rest of Africa. Our experienced platform is enhanced by our collaborative alliance with Linklaters, our associate is BB-BEE Level 4. membership of ALN (Africa Legal Network) and our network of best friend law firms across the African continent. Verdant Capital Verdant Wentzel Webber

166 169 148 149 Werksmans Attorneys CONTACT DETAILS Key contact person and designation Shayne Krige; Tanya Weiner Physical Address Johannesburg: 155, 5th Street, Sandton, Johannesburg, 2196; Cape Town: 18th Floor, 1 Thibault Square, Cape Town, 8001 Telephone Johannesburg: +27 11 535 8000; Cape Town: +27 21 405 5100 E-mail [email protected]; [email protected]

Website www.werksmans.com

COMPANY DETAILS Type of firm Corporate and Commercial Law Firm

REMARKS Werksmans Attorneys is a leading SA corporate and commercial law firm with a formidable track record in Werksmans Attorneys Werksmans mergers and acquisitions, commercial law, banking, finance, commercial litigation and dispute resolution. The S.A. Whatana Investments, firm’s dedicated Investment Fund & Private Equity practice combines a team of commercial, tax, private equity, regulatory and finance lawyers to meet the unique requirements of asset managers, investment advisers and investors. Through LEX Africa, the first and largest African legal alliance, the firm offers clients a gateway to Africa.

Whatana Investments, S.A. MEMBER MEMBER

ASSOCIATE ASSOCIATE CONTACT DETAILS ASSOCIATE Key contact person and designation Lan Nguyen; Nuno Quelhas Physical Address Rua Macombe Macossa, Number 93, Sommerschield, Maputo, Mozambique Telephone +258 21 497570 E-mail [email protected] Website www.whatana.com

COMPANY DETAILS Type of firm Investment Holding Company

COMPANY DETAILS Whatana Investments is a Mozambican-based investment holding company. Since its establishment in 2005, Whatana has built a medium to long-term investment portfolio consisting of high profile businesses and interests in the following sectors: Telecommunications, Energy, Resources, Finance, Property Development and Logistics. Whatana has a very solid network in Mozambique and abroad, which includes partnerships with both corporate and governmental institutions. This makes Whatana one of the top preferred partners in the SADC region. Whatana Investments, S.A. Whatana Investments,

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