Endeavor South Africa has closed its venture capital fund Harvest III, which raised 230 million rands ($12.65 million USD) to support the growth of high-growth technology companies in the country.
The co-investment fund, structured to invest alongside experienced lead investors, primarily focuses on companies at the Series B and advanced development stages. Harvest III follows the success of Harvest Fund II and reflects the growing optimism towards the South African technology ecosystem.
After an initial closing of 190 million rands ($10.45 million USD) in October 2024, the fund has already invested in several high-growth companies, including GoTyme Bank, Onafriq, Entersekt, and Plentify. Endeavor’s portfolio currently includes 144 companies across South Africa, Egypt, Nigeria, and Kenya.
Investors include Firstrand, Standard Bank, Allan Gray, and the SA SME Fund, as well as seasoned entrepreneurs like Barry Swartzberg (co-founder of Discovery) and Coenraad Jonker and Tjaart van der Walt (Tyme Group).
According to Endeavor South Africa CEO Alison Collier, the fund aims to fill the gap in structured support for emerging founders.
According to the fund, Harvest Fund II saw an average annual revenue growth of 49% and employment growth of 24% between 2020 and 2025, raising over 27 billion rands ($1.485 billion USD) during that period.
