South African Venture Capital Exit Reports

SA SME Fund · Endeavor South Africa · SAVCA — July 2026

South African Venture Capital: Exit Reports

Two new studies by the SA SME Fund, Endeavor South Africa and SAVCA provide compelling evidence that local venture capital can deliver both meaningful investor returns and broader economic impact. Together, they show that South African venture-backed scale-ups are generating successful exits, while the asset class itself is producing realised returns broadly consistent with more mature international venture capital markets.

A SELECTION OF CASE STUDIES

South Africa VC Exit Case Studies

An analysis of 18 South African venture capital–backed exits from 2014 to 2026 — the investor returns delivered and the jobs, financial inclusion, and innovation created along the way.

18
VC-BACKED EXITS
R1.6Bn
MEDIAN VALUATION AT EXIT
54%
MEDIAN GROSS IRR
4,000+
DIRECT JOBS CREATED
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VENTURE CAPITAL ASSET CLASS STUDY

South African Venture Capital: Exit & Performance Analysis

An analysis of South African venture capital exit and performance data, drawn from the 2026 SA SME Fund/Endeavor/SAVCA Exits case study data and the annual SAVCA VC survey.

THE MARKET · 2016–25
R16.1Bn
TOTAL CAPITAL
INVESTED
1,142
PORTFOLIO COMPANIES
FUNDED
REALISED PERFORMANCE · 2009–26
226
REALISED EXITS
ANALYSED
R4.9Bn
REALISED PROCEEDS
Fully disclosed deals
2.45x
REALISED MOIC
Fully disclosed deals
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