This archive report was first published on 18 October 2019.
On October 18, 2019, the South African Private Equity and Venture Capital Association (SAVCA) launched a Fund Manager Development Programme to boost black-owned, female-owned, and female-led fund management companies.
SAVCA partnered with the First National Bank and South Africa's SME fund to launch the programme, which aims to address challenges faced by fund managers, including fundraising, access to networks, and working capital.
According to a 2018 SAVCA industry survey, the percentage of female and black professionals in South Africa's private equity industry increased to 29.6% and 56.9% respectively, compared to 21.8% and 50.9% in 2017.
Seven generalist private equity funds, four infrastructure funds, and two venture capital funds will participate in the programme, which will select women from these funds to participate.
Programme manager Melanie De Nysschen stated that the participants will be coached and mentored to address the challenges they face.
SAVCA Chief Executive Officer Tanya Van Lil emphasized the association's commitment to accelerating sustainable transformation of the industry by developing high-potential female and black fund managers and attracting new talent into the Private Equity Sector.
