The private equity and venture capital industry, which in South Africa was given life by wealthy individuals, including Mark Shuttleworth, former FNB CEO Michael Jordaan and Patrice Motsepe, has over the years grown to billions of rands, reducing its dependency on "super angel investors".
Corporates and development finance institutions are increasingly finding private equity and venture capital an attractive sector to back. Over the years, this helped fund managers in this space raise money to support some startups which grew into big businesses - like Tekkie Town, Libstar and SweepSouth - according to Keet van Zyl, founding partner of Knife Capital.
