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.