Endeavor South Africa Closes USD 13.6 M Harvest Fund III For Late-Stage Tech

Endeavor South Africa has closed its Harvest Fund III at ZAR 230 M (USD 13.6 M), below its ZAR 500 M target, reflecting tighter LP allocations and prolonged fundraising cycles across Africa’s VC landscape.

Launched with a first close of ZAR 190 M in October 2024, the rules-based co-investment fund backs Series B and later-stage tech startups alongside lead investors. It targets about 40 companies across South Africa, Nigeria, Egypt, and Kenya from Endeavor’s network.

Early investments include Entersekt, Plentify, Onafriq, and GoTyme. Backers include FirstRand, Standard Bank, Allan Gray, SA SME Fund, and prominent founders like Barry Swartzberg and Tyme Group’s Coenraad Jonker and Tjaart van der Walt. The fund prioritises exits and liquidity in a constrained capital environment.