Introduction
Endeavor South Africa has taken a significant step toward supporting high-potential tech startups across Africa with the first close of its ZAR500 million (US$28.8 million) Harvest Fund III. The fund, designed to fuel growth in innovative companies, has already secured ZAR190 million (US$11 million) as it moves towards its final target.
Building on a Strong Foundation of Mentorship and Capital
Since its inception in 2004, Endeavor South Africa has provided promising entrepreneurs with access to mentorship, a global network, and funding opportunities. Through initiatives like the Endeavor Global Catalyst Fund and its own Harvest Fund, Endeavor connects high-growth companies with investors and critical support to accelerate their success.
Harvest Fund III builds on the momentum of its predecessors, particularly Harvest Fund II, which recently made its final investment. The second fund, with a ZAR190 million commitment, successfully invested in 19 companies, backing 17 high-growth ventures.
Strategic Investors Behind the Fund’s First Close
The first close of Harvest Fund III is backed by key investors, including Standard Bank, Allan Gray, and the SA SME Fund. This strong investor backing underscores confidence in Endeavor’s strategy of identifying and nurturing tech-related businesses poised for significant local and global growth.
“We are doubling down on a strategy that is working,” said Antonia Bothner, Endeavor SA’s capital markets lead. “With Harvest Fund III, we’re investing in market-leading, founder-led companies that have scalable IP, strong growth potential, and a commitment to paying it forward.”
Targeting Africa’s Leading Entrepreneurial Ventures
Harvest Fund III is set to invest exclusively in a carefully selected pipeline of 135 Endeavor companies, chosen for their high growth potential. The fund will primarily focus on Southern African businesses, with plans to invest in 20 to 25 companies in the region, and an additional five across other parts of Africa.
“We have a deep understanding of the 135 businesses in our pipeline,” said Alison Collier, managing director of Endeavor South Africa. “These companies have been vetted through our rigorous international selection process, and we engage with them continuously to assess their capital needs and ensure the fund's investments are well-guided.”
A Long-Term Vision for Growth and Innovation
The launch of Harvest Fund III represents a continuation of Endeavor South Africa’s mission to foster entrepreneurial innovation on the continent. By focusing on founder-led businesses with global ambitions, the fund aims to catalyze transformative growth in the tech sector while driving economic impact across the region.
