Harvest Fund III reaches final close
New and existing backers include FirstRand, the SA SME Fund, Standard Bank and Allan Gray.
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Endeavor South Africa has announced the close of its Harvest Fund III at R230 million (about $13.6 million). This venture fund brings together both entrepreneurs and institutional investors focused on backing and scaling the next generation of high-growth technology businesses across South Africa.
Harvest Fund III is a rules-based co-investment fund that invests alongside qualified lead investors, with the bulk of capital allocated to Series B and later-stage companies.
Harvest Fund III reached its final close following a first close of R190 million (about $11.3 million) in October 2024. The fund has already deployed capital into a number of companies, including GoTyme Bank, Onafriq, Entersekt and Plentify.
New and existing investors include FirstRand, the SA SME Fund, Standard Bank, and Allan Gray, alongside a growing group of experienced South African founders and operators, including Barry Swartzberg (co-founder of Discovery) and Coenraad Jonker and Tjaart van der Walt (Tyme Group co-founders).
“Harvest Fund III reflects what Endeavor has always believed: the strongest venture ecosystems are built when successful founders reinvest their capital, experience and networks into the next generation,” says Tjaart van der Walt, co-founder and director of Tyme Group and Endeavor South Africa board member. “This combination of entrepreneurial insight and institutional capital creates a powerful multiplier effect for both companies and the broader ecosystem.”
“South Africa has world-class founders, talent and innovation, who are building businesses to solve challenges that exist in the mass market. What is often missing are global networks and coordinated support ‘from one experienced founder to another’ to back and scale entrepreneurs,” says Alison Collier, CEO of Endeavor South Africa. “Harvest Fund III is designed to close that gap and help more companies reach meaningful scale, leveraging the Endeavor founder-led network.”
Ketso Gordhan, CEO of the SA SME Fund, says: “Harvest Fund III is important because it backs businesses that have already been rigorously selected and supported, while also helping deepen South Africa’s scale-up economy. As the market matures, exits matter more than ever. They validate the asset class, recycle capital, and build long-term confidence in venture investing.”
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