Successful exits of companies from venture capital funds in South Africa delivered more than twice the capital invested and show that the country’s venture capital ecosystem is moving to a more mature investment market that can attract greater institutional capital, say South African venture capital organisations.
The 'South African Venture Capital: Exit & Performance Analysis' report shows that realised cash returns substantially exceeded invested capital, with capital-weighted realised returns ranging from 2.01-times to 2.45-times invested capital.
The study looked at 226 realised exits reported by South African venture capital fund managers between 2009 and 2026.
The study was conducted by venture capital companies the South Africa SME Fund and Endeavor South Africa and industry organisation the Southern African Venture Capital and Private Equity Association (Savca).
The report shows that local venture capital can deliver meaningful investor returns and broader economic impact.
