PAPEfunds

PAPEfunds is a late stage focused private equity firm.

PAPE Fund Managers (Pty) Ltd (“PAPE”) is a boutique private equity fund manager investing long-term equity risk capital into pedigreed South African mid-cap unlisted enterprises.

PAPE Fund Managers (PFM) has its origins in the establishment in 2005 of Pan-African Capital Holdings (PTY) Limited (PACH), an investment holding and econometric research company. The principals at PACH decided in 2008 to pursue a captive fund model and were successful in attracting the interest of RMB Ventures to invest alongside PACH in the first fund capitalized at ZAR250m (PAPE Fund 1). Fund 1 invested in 7 portfolio companies and has had 6 exits to date.

The success of the first fund provided a platform the second fund to be launched in 2012 (also with RMB Ventures and PACH), capitalised at ZAR300m with a total portfolio of 4 companies and 1 exit to date.

The team has since moved away from a captive fund model to a limited partnership model in Fund 3 and established a new fund management vehicle, Pape Fund Managers (Pty) Ltd, (PFM), owned by a team with 100% black ownership and black women ownership. This fund manager is managing PAPE Fund 3.

After a period of more than three and half years of capital raising activities PAPE Fund 3 reached First Closing on 11 July 2018 with Final Close in January 2020 capitalised at ZAR1.030bn with nine LPs. Fund 3  is currently deploying capital and has 4 investee companies.