Endeavor South Africa has closed Harvest Fund III on R230m, a major boost for high-growth technology businesses in South Africa and the wider African market.
The fund focuses on Series B and later stage companies, investing alongside qualified lead investors to accelerate growth, job creation and exit across the continent's scale-up ecosystem.
Building on the success of Harvest Fund II, Harvest Fund III has already deployed capital into high-growth companies including GoTyme Bank, Onafriq, Entersekt and Plentify, while maintaining a strong pipeline of approximately 40 Endeavor companies in South Africa, Egypt, Nigeria and Kenya.
Major investors include FirstRand, Standard Bank, SA SME Fund and Allan Gray as well as South African founders such as Barry Swartzberg (co-founder of Discovery) and Coenraad Jonker and Tjart van der Walt (co-founders of Time Group).
“Harvest Fund III shows that the strongest venture ecosystems are built when successful founders reinvest their capital, experience and networks into the next generation,” said Tjart van der Walt, co-founder of Tyme Group and Endeavor South Africa board member.
The fund leverages Endeavor's global network to provide mentorship, market access, talent and strategic guidance as companies scale. Alison Collier, CEO of Endeavor South Africa, said: “Harvest Fund III helps world-class South African founders bridge the gap between local innovation and global opportunities.”
The impact of Endeavor's model is clear: Harvest Fund II's 17-company portfolio grew revenues by 49% per annum and employment by 24% per annum between 2020 and 2025, while raising more than R27bn in capital. Harvest Fund III is designed to continue this momentum, ensuring sustainable growth and recycling returns to the local ecosystem.
SA SME Fund CEO Ketso Gordhan said: “Harvest Fund III strengthens South Africa’s scale-up economy by supporting strictly selected businesses and supporting meaningful exits that build confidence in venture investment.”
Barry Swartzberg, Chairman of Endeavor South Africa, said: “This fund supports South Africa's next generation of global success stories, bringing capital, expertise and confidence back into the ecosystem.”
With global venture capital increasingly shifting to high-growth markets, Harvest Fund III positions South African founders to grow across borders and accelerate their impact.
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