Issue 11 2020

26 Acquisition International - Issue 11 2020 Aug20188 Contact: Vusi Thembekwayo Company: MyGrowthFund Venture Partners Web Address: www.mygrowthfund.co.za ncepted in 2014, and with offices in South Africa, Kenya, Nigeria, Ghana, Tanzania and Uganda, and an investor relations office in New York, USA, MyGrowthFund manages funds on behalf of institutional investors, sovereign funds, family offices and HNWI that have a penchant for proven early-stage technology investments in Africa. CEO of MyGrowthFund, Mr Vusi Thembekwayo, is amongst the most respected venture investors in Africa as well as a board member of the Southern African Venture Capital & Private Equity Association. He tells us more about the firm’s core values. “Our firm is founded on qualities that are fundamentally human,” he begins. “Africans are creative beings with a drive for innovation and simplification. Our firm and funds seek to harness the spirit of creativity in how we originate, structure and execute investments in early-stage and growth stage businesses. “As a firm, we are relentlessly curious. We insist on employing, investing in and working with partners that have a ferocious appetite for uncovering new ideas, innovative business models and technologies. “We simplify our approach towards disruption by looking for investments that fit a simple criteria: to be cheaper, better and faster than your competitors; and to save the customer time, energy and resources.” The firm’s financial performance over the last 12 months has seen it outperform its target NAV (on a mark-to-market valuation basis) to come out net positive, with its technology portfolio in particular seeing more consumer demand off the back of the trend driven by the Covid-19 pandemic. Mr Thembekwayo tells us more about how the firm strives to stay ahead of competitors and what is has that helps it to differentiate. “MyGrowthFund is managed by a season management consultant and strategist. Pivoting for the changes in our respective markets is our core strength. “Our board is made up of a seasoned insurance technocrat that has managed the largest re-insurance business in Africa. She provides great insight into the macro factors that affect the finance sector and how those affect our firm’s strategy. “Additionally, our operational model is based on shared risk, shared success. We call this co-habitation. As a result, we partner with market-leading accelerators in each of the countries that we choose to invest in. This ensures that we have the pulse of the country, the real economy, and the growth sectors.” I MyGrowthFund Venture Partners is a pan-Africa Series A & B venture funding company with an overall goal to enhance and contribute to the economic uplift of Africa. Having recently found success in the Worldwide Finance Awards 2020, we profiled MyGrowthFund to discover more about how they established a reputation as being one of the best impact investment firm’s operating in Africa today. A Future of Growth It’s not all about having the best business model – it is also about procuring the right personnel and MyGrowthFund have developed a culture of communal hire whereby no single person or manager makes a recruitment decision in the firm. “We are constantly on the prowl for talent,” enthusesMr Thembekwayo. “We often invite candidates to join us at the office for a trial week. They work with us and get exposed to the business and our culture. They are given stringent tasks over that time so that we can test their competence, skill and culture fit. “At the end of the week, the candidate must receive unanimous support to join the firm or they are not offered a position.” MyGrowthFund Venture Partners publishes market-leading research, sponsors industry events and supports various causes to build a brand and attract talent that resonates with its values, and it will continue to do so regarding the future. “We have built an online education business that has reached over 750,000 entrepreneurs throughout Africa over the past 24 months. We have also created over 2,000 full-time well-paying jobs through our investments and accelerated over 300 high-growth firms,” says Mr Thembekwayo, speaking of new developments on the horizon. “Currently, we are busy with our capital raising for our Fund II. We are raising a $100mln Series A & Series B pan-African technology fund that partners with founders to build the business that will ready Africa for a digital future. “Alongside this, we are also building an Ed-Tech platform to educate start-up founders on the world of venture funding. This is something that is sorely needed in the continent given the poor levels of literacy and high cost of decent education.”