Vuka Fund

Combining capital & competence to help rebuild
the South African economy, sustainably & ethically

Vuka Capital

Combining capital & competence to help rebuild the South African economy, sustainably & ethically

Vuka Fund I is positioned to empower SME companies through transformative ownership and funding.

This will be achieved through the support of entrepreneurs with capital, mentorship, and access to markets.

Company Structure

Vuka Fund I is a limited partnership managed by Vuka Management Company, an empowered General Partner “Vuka”. Vuka is responsible for managing Fund I’s investments.

Vuka Fund Managers own 100% of Vuka Management Company.

The majority (51%) of Vuka Fund Managers is held by Thembekwayo Legacy Trust. 49% is held by EXEO Capital, which boasts a successful 15-year track record of SME and mid-size investments and business partnership expertise across Sub-Saharan Africa.

Aligned with the prevailing Codes on BBBEE, all capital deployed by Vuka Fund I is recognised as a black fund manager.

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The VUKA Difference

Vuka Fund I targets a diverse portfolio of assets, each with strong growth potential and a need for capital to achieve success.

This differentiates Vuka from other Funds – typically focused only on large, scaling companies. Our focus addresses both those opportunities and the SMEs across the country who do present higher risk but are in greater need of entrepreneurial support, mentorship, coaching and access to markets.

Fund Size R1bn (R500m first close, hard cap R1.5bn)
Investment Mandate Business/share acquisitions

Business expansion/growth capital needs

Black empowerment transactions

Management buy-ins/buy-outs

Replacement capital (exiting shareholders)

Project financing

Term 10 + 1 + 1  Years
Participation % 25% + voting interest (plus protection)
Structure Limited partnership
Fund Operational Licence Partnership with EXEO Fund Advisors
Fund Size R1bn (R500m first close, hard cap R1.5bn)
Fund Size R1bn (R500m first close, hard cap R1.5bn)
Investment Mandate Business/share acquisitions

Business expansion/growth capital needs

Black empowerment transactions

Management buy-ins/buy-outs

Replacement capital (exiting shareholders)

Project financing

Term 10 + 1 + 1  Years
Participation % 25% + voting interest (plus protection)
Structure Limited partnership
Fund Operational Licence Partnership with EXEO Fund Advisors
Fund Structure Fixed-term
Minimum LP Contribution R50m
Deployment Period 5 years
Investor Protection Agreed per ILPA guidelines
Geographical Focus 70%+ into South Africa

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