Picture: 123RF/ISMAGILOV
Picture: 123RF/ISMAGILOV

In this edition of Business Day Spotlight, we talk about small business funding with a venture capital fund.

Host Mudiwa Gavaza is joined by the team from Hlayisani Growth Fund (HGF): Dr Reuel Khoza, chair; and Dr Eugene van Rensburg, a partner.

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HGF is an investment firm that has raised R350m to invest in small, technology backed businesses that have the potential for high growth.

Business Day Spotlight host Mudiwa Gavaza. Picture: DOROTHY KGOSI.
Business Day Spotlight host Mudiwa Gavaza. Picture: DOROTHY KGOSI.

The discussion centres on the rationale for creating HGF, what the main thrust will be for the fund, problems of raising capital for small businesses, the investment philosophy and thesis for HGF, and what type of businesses they are looking to invest in?

Khoza says “R350 will never be enough” to address the funding gap in SA, but this does serve as a start for them. He highlights their desire to raise more funding for investment and explains their role in assisting the management teams on the path of growth.

Van Rensburg says R200m has already been invested in seven businesses: education technology player, Snapplify; transport app, Gometro; communications platform, Wyzetalk; educator, LEAP; cloud services provider, Opennetworks; market research firm, Sudonum; and internet services provider, Ikeja. He explains their rationale for investing in these companies and the type of businesses they’re looking to grow. 

A large part of the discussion focuses on helping teams to grow their businesses. While much is said about the problems entrepreneurs face in raising funds, perhaps more still needs to be said.

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 Business Day Spotlight is a MultimediaLIVE production.


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