# PE firms based in South Africa (2026 list)

> 143 PE firms based in South Africa, 3% active in the last 12 months. Led by Hlayisani Capital, GLOBAL VENTURE CAPITAL, Convergence Partners.

Source: https://millionrounds.com/lists/pe-firms-based-in-south-africa (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# PE firms based in South Africa

Updated 7 November 2026

PE firms headquartered in South Africa.

[See all 143 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-based-in-south-africa)The top 25

**143** investors on the list No change this week

**6** cheques in 12 months Too few cheques to tell

**$32M** median round they joined *+296%* against the market median

**3%** wrote a cheque in 12 months

**3%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (5)

- 1 [Hlayisani Capital](https://millionrounds.com/fund/angelhub-ventures) quiet Private equity · South Africa **12** **$2M** median round **Dec 2023** last seen
- 2 [GLOBAL VENTURE CAPITAL](https://millionrounds.com/fund/global-venture-capital) quiet Private equity · South Africa **10** **$5M** median round **Apr 2015** last seen
- 3 [Convergence Partners](https://millionrounds.com/fund/convergence-partners-2) *Deploying now* Private equity · South Africa **7** **$40M** median round **Aug 2026** last seen
- 4 [Sanari Capital](https://millionrounds.com/fund/sanari-capital) quiet Private equity · South Africa **6** **$4.7M** median round **Sept 2025** last seen
- 5 [BMW](https://millionrounds.com/fund/bmw) quiet Growth equity · South Africa **3** **$100M** median round **Sept 2020** last seen
- 6 [Pace Capital](https://millionrounds.com/fund/pace-capital-2) *Deploying now* Private equity · South Africa **2** **$50M** median round **Oct 2026** last seen
- 7 [Public Investment Corporation](https://millionrounds.com/fund/public-investment-corporation) quiet Growth equity · South Africa **2** **$183M** median round **Sept 2015** last seen
- 8 [27four Investment Managers](https://millionrounds.com/fund/27four-investment-managers) quiet Growth equity · South Africa **1** **$23M** median round **Sept 2025** last seen
- 9 [EXEO Capital](https://millionrounds.com/fund/exeo-capital) *Deploying now* Private equity · South Africa **1** **-** median round **Dec 2025** last seen
- 10 [Inspired Evolution](https://millionrounds.com/fund/inspired-evolution) quiet Growth equity · South Africa **1** **$41M** median round **Dec 2018** last seen
- 11 [Ledger Capital Partners](https://millionrounds.com/fund/ledger-capital-partners) quiet Private equity · South Africa **1** **$1.5M** median round **Jan 2019** last seen
- 12 [Liquid Africa](https://millionrounds.com/fund/liquid-africa) quiet Private equity · South Africa **1** **$1.4M** median round **Jul 2019** last seen
- 13 [Novare Holdings](https://millionrounds.com/fund/novare-holdings) quiet Growth equity · South Africa **1** **$150M** median round **Sept 2025** last seen
- 14 [Resolut Group](https://millionrounds.com/fund/resolut-group) quiet Growth equity · South Africa **1** **$100M** median round **May 2018** last seen
- 15 [Secha Capital](https://millionrounds.com/fund/secha-capital) *Deploying now* Private equity · South Africa **1** **-** median round **Nov 2025** last seen
- 16 [UW Ventures](https://millionrounds.com/fund/uw-ventures) quiet Private equity · South Africa **1** **$4M** median round **Oct 2024** last seen
- 17 [VEA Capital Partners](https://millionrounds.com/fund/vea-capital-partners) quiet Private equity · South Africa **1** **-** median round **Aug 2025** last seen
- 18 [iGrow](https://millionrounds.com/fund/igrow) *Deploying now* Growth equity · South Africa **1** **$46M** median round **Jun 2026** last seen
- 19 [Treacle Private Equity](https://millionrounds.com/fund/treacle-private-equity) quiet Private equity · South Africa **1** **$6M** median round **Jul 2009** last seen
- 20 [12Cape](https://millionrounds.com/fund/12cape) unknown Private equity · South Africa **none observed** **-** median round **-** last seen
- 21 [A1 Capital (Pty) Ltd](https://millionrounds.com/fund/a1-capital-pty-ltd) unknown Private equity · South Africa **none observed** **-** median round **-** last seen
- 22 [ACN Capital](https://millionrounds.com/fund/acn-capital) unknown Private equity · South Africa **none observed** **-** median round **-** last seen
- 23 [AFRICAN PIONEER GROUP](https://millionrounds.com/fund/african-pioneer-group) unknown Private equity · South Africa **none observed** **-** median round **-** last seen
- 24 [Adinah Capital Partners](https://millionrounds.com/fund/adinah-capital-partners) unknown Private equity · South Africa **none observed** **-** median round **-** last seen
- 25 [Africa Infrastructure Investment Managers](https://millionrounds.com/fund/african-infrastructure-investment-managers-aiim) unknown Private equity · South Africa **none observed** **-** median round **-** last seen

**118 more on this list**

All 143 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

[See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-based-in-south-africa)

## The Newest Cheques

Rounds this list's investors joined most recently

- **28** Oct **[Infisical](https://millionrounds.com/company/infisical)** Series B · $40M *With* [Pace Capital](https://millionrounds.com/fund/pace-capital-2)
- **20** Oct **[Daytona](https://millionrounds.com/company/daytona)** Series B · $60M *With* [Pace Capital](https://millionrounds.com/fund/pace-capital-2)
- **10** Aug **[Yellow Card](https://millionrounds.com/company/yellow-card)** Series C · $40M *Led by* [Convergence Partners](https://millionrounds.com/fund/convergence-partners-2)
- **29** Jun **[xCures](https://millionrounds.com/company/xcures)** Series B · $46M *With* [iGrow](https://millionrounds.com/fund/igrow)
- **1** Dec **[SwiftVEE](https://millionrounds.com/company/swiftvee)** Series A *With* [EXEO Capital](https://millionrounds.com/fund/exeo-capital)
- **19** Nov **[Plentify](https://millionrounds.com/company/plentify)** Series A *Led by* [Secha Capital](https://millionrounds.com/fund/secha-capital)

## Stages This Year

6 rounds

- Series B **50%**
- Series A **33%**
- Series C **17%**

## What They Backed

Sectors, last 12 months

- AI **3**
- Developer Tools **2**
- Fintech **2**
- Cleantech **1**
- Cybersecurity **1**
- Construction **1**

## Cheques by Quarter

Led Joined

Q1 25

Q2 25

4 Q3 25

2 Q4 25

Q1 26

1 Q2 26

1 Q3 26

2 Q4 26

The last bar is the quarter still running.

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[All investor lists *→*](https://millionrounds.com/lists)

## Quick answers about PE firms based in South Africa

### Who are the most active PE firms based in South Africa?

By cheques observed, the most active are Hlayisani Capital, GLOBAL VENTURE CAPITAL, Convergence Partners, Sanari Capital and BMW.

### How many PE firms based in South Africa are there?

143 are on record. 3% made an investment in the last 12 months and 3% have led a round.

### Which stages do PE firms based in South Africa back?

Of the rounds with a named stage in the last 12 months, mostly Series B (50%) and Series A (33%).

### How big are the rounds PE firms based in South Africa join?

The typical (median) round among the leading investors here is $40M.

### Which sectors do PE firms based in South Africa back most?

In the last 12 months, mostly AI, Developer Tools and Fintech.

### Which PE firms based in South Africa lead the most rounds?

Sanari Capital (4 led), Convergence Partners (1 led) and Novare Holdings (1 led).

### What have PE firms based in South Africa invested in recently?

Recent rounds include Infisical (Series B, Oct 2026, with Pace Capital), Daytona (Series B, Oct 2026, with Pace Capital) and Yellow Card (Series C, Aug 2026, with Convergence Partners).

### How is this list of PE firms based in South Africa ranked?

By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night.

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)