Dear Friends of Endeavor,
Entrepreneurial ecosystems are built by founders. They are the individuals who take risks, build companies, create jobs and—when they succeed—reinvest their capital, experience and networks into the next generation.
The start of 2026 has reminded us once again that shocks and surprises are the essence of investment history.
While headlines have recently been dominated by geopolitics and markets, the quieter and more important story continues beneath the surface: entrepreneurs are building, scaling and creating real outcomes.
Founders Drive the Ecosystem
This quarter we saw meaningful exits from the ecosystem—including Skynamo and BVNK—this following the quarter after Optasia listed on the JSE, reinforcing that globally competitive companies can be built from South Africa, scaled onto the world stage and exited.
These outcomes matter far beyond the companies themselves. Successful founders reinvest their capital, knowledge and networks into new ventures, creating the flywheel that powers enduring entrepreneurial ecosystems.
As Barry Swartzberg, Chairman of Endeavor South Africa, recently wrote in a Business Day OpEd following our ISP in Stellenbosch late last year:
“Prosperity emerges only when entrepreneurs translate opportunity into real businesses, real jobs and real value. Growth becomes inevitable when founders make it inevitable.”
Research from Endeavor consistently shows that a small number of high-growth companies generate a disproportionate share of job creation and ecosystem development. Supporting these founders—at the moment they are ready to scale—remains at the heart of our mission.
Founder Milestones
We also celebrated important milestones across the network. The final close of Harvest Fund III welcomed FirstRand as a new institutional LP. The fund has already made five investments, including its largest to date in GoTyme Bank , with a strong pipeline ahead.
It has also been a moment of recognition for the Tyme leadership team. In late 2025, Coenraad Jonker and Tjaart van der Walt were honoured in New York with the Endeavor’s Lindas Award, the highest accolade within Endeavor, recognising entrepreneurs whose companies demonstrate both exceptional growth and meaningful impact from emerging markets. Watch below:
- Links Tjaart and Coen acceptance speech in New York
- Links The Tyme Story: Modern banking wasn’t built for Emerging Markets
Earlier this year Coenraad Jonker and Nathaniel Clarke also represented South Africa as panellists at an Endeavor International Selection Panel in Singapore.
Special congratulations to Tjaart van der Walt, who received an honorary doctorate from Stellenbosch University in recognition of his pioneering role in digital banking and innovation.
Across the Tyme platform, Tyme rebranded to GoTyme and momentum continues. GoTyme Bank recently became the most-used Visa debit card in the Philippines, while TymeBank has grown into a platform serving more than 20 million customers across markets—demonstrating how a digital banking platform built from South Africa can scale globally.
Network Momentum
We continue to see strong activity across the network.
This quarter we launched two accelerator call-outs — one focused on African Cleantech and another on early-stage SA scaleups — in partnership with FMO and new partner Ninety One respectively. This growing institutional support for entrepreneurship is an encouraging signal for the SA ecosystem.
We are also pleased to welcome Cape Town-founded Cerebrium, which recently passed the Endeavor Local Selection Panel. Cerebrium is building serverless AI infrastructure that enables teams to deploy and scale real-time AI workloads without the complexity of managing GPU infrastructure themselves — an exciting example of deep technology emerging from the region.
Our team continues to grow and we welcome Ropafadzo Musvaire, who joins as a Portfolio Manager and is no stranger to the venture ecosystem. We also welcome extern Shaila Lothe, joining us from New York after working with Endeavor Mexico and Endeavor Portugal and Linus Gerds, joining as an intern in Cape Town from Germany.
Globally, the Endeavor network continues to expand. Among the newest members of the network is Vladyslav Yatsenko, co-founder and CTO of Revolut, one of Europe’s leading fintech companies. Endeavor also launched a new regional hub in the United Arab Emirates, strengthening support for founders building companies across borders from day one.
New Endeavor Entrepreneurs were selected through our virtual and regional International Selection Panels, with the next gathering our 108th in person ISP is scheduled in Athens this July. In May, London will become the centre ‘of entrepreneurs elsewhere’ as we look forward to convening founders, investors, and board members in London for the annual Endeavor Catalyst LP meeting at the Tate Modern, mark your calendars and sign up now!
Lastly, for our local Endeavor SA network – click here for the recently launched a talent exchange as well as a link to our network events.
South Africa Endeavor Events & Network News.
Across the ecosystem, an increasingly clear message is emerging: strong startup ecosystems are not built by capital alone — they are built by founders.
At the recent Private Equity SAVCA Conference, Alison Collier highlighted the central role entrepreneurs play in shaping venture ecosystems. Capital may accelerate growth, but it is founders who ultimately create ecosystems as penned in this recent article:- South Africa is gaining recognition for the depth of talent and companies emerging from the region.
A recent report from Endeavor Insight and Endeavor Kenya reinforces this idea. Mapping Kenya’s entrepreneurial network shows how reinvestment drives ecosystem development over long periods. LinkedIn post | Full report
Local Founder Stories Podcast
Entrepreneurship is often described through funding rounds and exits, but the reality is usually decades of persistence.
Our latest episode of the Endeavor Founder Stories series highlights that journey through the experience of Candice Roberts, founder of CallForce. Over more than 25 years, Roberts built CallForce into one of South Africa’s leading BPO businesses before joining the Endeavor South Africa board.
Entrepreneur News
Onafriq expands cross-border payments and enters Mauritania
Payments infrastructure company Onafriq announced multiple partnerships and regional expansions, including cross-border payment initiatives with Pan-African Payment and Settlement System and new market entry in Mauritania.
Local Scale Up News
Several companies across the Local Scale Up portfolio continue to demonstrate how innovation from the region can solve global problems.
Security technology platform AURA continues its international expansion and was recently featured on CNN for its use of AI to address real-world safety challenges. The company also strengthened its global leadership team with the appointment of a US-based Global Head of People.
Education platform Koa Academy is applying predictive AI to help address student dropout risk, while mobility platform Gobuddy is rethinking last-mile logistics by turning everyday travel into a delivery network through technology and network effects.
Meanwhile, insurtech companies Pineapple and Inclusivity Solutions were recently highlighted as part of Africa’s growing insurtech revolution — another sector where entrepreneurs are building globally relevant solutions.
Global Endeavor Events & Entrepreneur News
The latest International Selection Panel in Singapore welcomed 23 founders from 12 companies into the network, including African ventures Axis and HoneyCoin. At the same time, insights from Endeavor Catalyst highlight broader shifts in venture capital, with technologies such as artificial intelligence increasingly seen as foundational infrastructure. Speaking at the New York Stock Exchange, Catalyst Managing Director Allen Taylor noted how the co-investment model has scaled from five investments in 2012 to roughly one per week by 2025 — a reflection of the growing momentum of entrepreneurs across the Endeavor network in markets “Elsewhere”.
Things to double click on:
➡️ Don’t reduce everything to the game. This sharp take on incentives shows how pure game-theoretic thinking can backfire — and why the best operators design for trust, not just outcomes.
➡️ Make the least-wrong choice. In this podcast with Sequoia’s Brian Halligan, Goldman Sachs CEO David Solomon reflects on what founders get wrong about the CEO job, why serendipity beats certainty, and how a 156-year-old banking giant is adapting to AI and change.
➡️ Learn to spearfish in venture waters. In this energizing episode of the Invest Like The Best podcast, long-time Endeavor mentor and General Atlantic’s Co-President Martín Escobari shares how he balances intuition and rigor to find once-in-a-decade deals — and why he sees global growth equity entering its best window since 2009.
➡️ Build for the hardest settings first. When security threats derailed a surgery in Lebanon, Endeavor Entrepreneur Nadine Hachach-Haram asked: What if I could guide surgeons remotely? That question became Proximie — now used in 50+ countries and 800+ hospitals.
➡️ Know when to ship — and where to build. ElevenLabs has a simple rule: if research takes more than three months, the product team moves ahead.
Closing the quarter
If there is a thread running through this quarter, it is momentum built through people. Entrepreneurs scaling companies, founders reinvesting after exits, investors deepening their commitment, and ecosystem builders strengthening the networks that allow innovation to compound.
The story of entrepreneurship in South Africa — and across emerging markets — has never been linear. It is built through cycles of experimentation, resilience, and renewal. Each successful founder creates more than a company; they create belief, capability, and opportunity for those who follow. Over time, those efforts form the flywheel that powers an ecosystem.
During our recent team retreat — including a visit to Sunrise Animation Studios in Hout Bay Cape Town — we were reminded how much building companies resembles storytelling and world-building. Both require imagination, persistence, and the willingness to start before the outcome is certain.
Which brought to mind a line from Gimli in The Lord of the Rings: The Two Towers;
“Certainty of death, small chance of success… what are we waiting for?”
It captures something deeply familiar to founders everywhere. Entrepreneurship has never been the safe path — but it remains one of the most powerful ways to create real progress.
To all the founders, investors, mentors, and partners who continue to shape our hi-story: thank you. 🚀
With gratitude,
Alison Collier, Endeavor South Africa MD.