The SA SME Fund has chosen black-owned private equity manager Pape Fund Managers as one of seven that will manage its R1.4 billion fund to develop small businesses.
Fifty companies and the Public Investment Corporation created the fund earlier this year to invest in venture capital firms experienced in small business development.
The fund is led by CEO Ketso Gordhan.
The board of directors include Discovery CEO Adrian Gore, Eskom’s acting CEO and Chair Jabu Mabuza and Wits Chancellor Judy Dlamini while the investment committee is chaired by tech-entrepreneur Michael Jordaan.
[Pape Fund Managers] aspires to improve the lives of all South Africans through job creation, a broader tax base and sustained economic growth.— SA SME Fund
Pape is based in Johannesburg and Stellenbosch.
Pape Fund Managers famously bought 23% of JoJo rainwater tanks just before the most severe drought on record started in Cape Town.
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