Investment Portfolio | Portfolio Purpose | Sector Focus | Further Portfolio - Specific Guidance
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Developmental Investments South Africa | To invest in unlisted South African entities to achieve financial and developmental returns.
| Across all sectors but with particular focus on: - Agriculture
- Mining
- Manufacturing
- Financial Services
- Financial Inclusion
| - Investments are limited to South African entities that derive the majority of their revenue from South Africa.
- Minimum investment size is R100 million.
- Ideal investment size is between R300 million and R500 million.
- Investments may comprise debt, equity, or a hybrid of both.
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Developmental Infrastructure Investments South Africa | To invest in unlisted South African based entities, established for the purposes of developing and/or maintaining infrastructure, while aiming to achieve financial and developmental returns.
| Focus areas: - Economic Infrastructure (energy infrastructure, logistics networks, water infrastructure and commuter transport).
- Environmental Infrastructure (climate change mitigation, renewable energy, energy efficiency, recycling and clean technology).
- Social Infrastructure (affordable housing, healthcare and education).
| - Investments are limited to South African entities that derive the majority of their revenue from South Africa.
- Minimum investment size is R100 million.
- Ideal investment size is between R300 million and R500 million.
- Investments may comprise debt, equity or a hybrid of both.
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Developmental Investments Rest of Africa | To invest in unlisted African (excluding South Africa) based entities
for the purposes of achieving financial and developmental returns.
| Focus areas: - Direct investments
- Infrastructure investments, and
- Non – infrastructure investments.
- Indirect investment namely:
- Third-party Fund Managers, and
- Intermediaries.
Across all sectors.
| - Investments are limited to African entities that derive the majority of their revenue from Africa and less than 50% of their revenue from South Africa.
- Minimum investment is size US$10 million.
- The ideal investment size is between US$20 million and US$40 million.
- Investments may comprise debt, equity, or a hybrid of both.
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Developmental Investments in Intermediaries in South Africa | To provide capital to intermediaries in South Africa for the purpose of investing in South African-based entities to achieve financial and developmental returns.
| Focus areas (all through intermediaries): - SME Financing
- Midmarket Private Equity
Intermediaries can invest across all sectors.
| - Investments are limited to South African entities only, i.e., entities that derive the majority of their revenue from South Africa.
- Minimum investment size of R100 million.
- The ideal investment size is between R300 million and R500 million.
- Investments may comprise debt, equity, or a hybrid of both.
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