Endeavor South Africa has successfully completed the first close of its $28.8 million Harvest Fund III, raising $11 million to fuel the growth of high-potential tech companies across Africa. This new fund marks a continuation of Endeavor’s mission to support innovative, founder-led businesses with the potential for local and global expansion.
Building on Success: The Growth of Harvest Fund
Since its founding in 2004, Endeavor South Africa has been a key player in providing entrepreneurs with access to mentorship, a global network, and capital through its Harvest Fund. Major investors in Harvest Fund III include Standard Bank, Allan Gray, and the SA SME Fund, reflecting strong institutional confidence in the fund’s approach.
Harvest Fund III follows the success of Harvest Fund II, which invested in 17 companies across a variety of sectors. The latest fund aims to invest in 20 to 25 companies in Southern Africa, as well as five additional businesses in other parts of Africa, focusing on tech-related startups with strong growth potential.
Investing in High-Growth Tech Startups
Harvest Fund III will primarily target founder-led companies with high scalability, strong intellectual property (IP), and global expansion prospects. The fund’s investment pipeline already includes 135 vetted businesses, each selected through Endeavor’s rigorous international process. By backing these startups, Endeavor aims to drive innovation, enhance entrepreneurship, and support Africa’s growing tech ecosystem.
Source: DabaFinance