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Ditiro Fund I reaches first close
securing R360 million in commitments
Black women-owned and managed private equity fund manager, Ditiro Capital (“Ditiro” or “the Company”), has achieved a significant milestone by successfully reaching its first close. The Company has secured R360 million in investment commitments from Thuso Partners, the Motor Industry Retirement Funds, and Telkom Retirement Fund. RisCura, a purpose-led global investment firm, played a facilitating role in bringing together the latter two investors as part of their commitment to manager development.
The private equity firm, established in 2019, focuses on investments in medium-sized businesses in South Africa that exhibit sustainable growth prospects in sectors including healthcare, food processing, and manufacturing. Ditiro is targeting capital commitments of between R500 million and R800 million.
“Ditiro is invested in the South African story—a country with significant challenges and abundant opportunities,” according to the investment team, Madichaba Nhlumayo, Mandisa Nkosi, and Karabo Nkoana. “We grew up in this market, have experience investing, and have a vested interest in its success. We believe that through our investments, we can achieve our dual objectives of generating superior financial and social returns for investors in the Fund,” says Nhlumayo.
“Ditiro provides both growth and replacement capital to support the expansion and development of target companies. Through strategic partnerships with management teams, we aim to contribute meaningfully to the growth of our portfolio companies while ensuring the improvement of Environmental, Social, and Governance (ESG) factors over the investment period,” adds Nkosi.
The team is focused on executing the investment strategy and aims to utilise its experience and raised capital to achieve its dual objectives. The team appreciates the long-term nature of these objectives and, more importantly, recognises its responsibility as a custodian of the raised capital in delivering the targeted return.
Ditiro’s Investment Committee includes independent non-executive members, Jake Archer (Chair), and Eutychus Mbuthia. The Board is chaired by Lea Conrad. The non-executive Investment Committee members and Board Chair collectively bring years of experience in investing in South African private markets, expertise in governance, and operating businesses.
Ditiro has been a beneficiary of stakeholders, including investors, service providers, and industry bodies, who support emerging managers and, consequently, the transformation of the investment management industry in the country. An initiative that proved to be a catalyst in the Company’s progression was the Women Empowerment Mentoring and Incubation (“WE>MI”) Programme, a manager development program funded by the United States Agency for International Development (“USAID”). The program was successfully managed by MiDA Advisors and the Southern African Venture Capital and Private Equity Association (“SAVCA”) as the implementing and programming partners, respectively.
“We would like to congratulate Ditiro on a successful first close. We are proud to be part of Ditiro’s journey and believe that Ditiro Fund I is well placed to deliver compelling financial and social returns, including much needed job creation,” says Olwethu Cata, Chief Executive Officer and Investment Committee Member at Thuso Partners.
“Congratulations to Ditiro Capital on their achievement of reaching their first close. We proudly stand alongside this dynamic asset manager, exemplifying a commitment to responsible investing and paving the way as a black women-owned and managed private equity fund manager. At RisCura, our dedication to improving gender diversity and driving transformation in the industry remains steadfast,” says Chad Ward, Head of Investment Research South Africa and Portfolio Manager on the Manager Development Programme at RisCura.
“Ditiro looks forward to partnering with like-minded stakeholders as it deploys the raised capital into a portfolio of quality assets while continuing to raise the remaining balance of the Fund,” concludes Nhlumayo.
The private equity firm, established in 2019, focuses on investments in medium-sized businesses in South Africa that exhibit sustainable growth prospects in sectors including healthcare, food processing, and manufacturing. Ditiro is targeting capital commitments of between R500 million and R800 million.
“Ditiro is invested in the South African story—a country with significant challenges and abundant opportunities,” according to the investment team, Madichaba Nhlumayo, Mandisa Nkosi, and Karabo Nkoana. “We grew up in this market, have experience investing, and have a vested interest in its success. We believe that through our investments, we can achieve our dual objectives of generating superior financial and social returns for investors in the Fund,” says Nhlumayo.
“Ditiro provides both growth and replacement capital to support the expansion and development of target companies. Through strategic partnerships with management teams, we aim to contribute meaningfully to the growth of our portfolio companies while ensuring the improvement of Environmental, Social, and Governance (ESG) factors over the investment period,” adds Nkosi.
The team is focused on executing the investment strategy and aims to utilise its experience and raised capital to achieve its dual objectives. The team appreciates the long-term nature of these objectives and, more importantly, recognises its responsibility as a custodian of the raised capital in delivering the targeted return.
Ditiro’s Investment Committee includes independent non-executive members, Jake Archer (Chair), and Eutychus Mbuthia. The Board is chaired by Lea Conrad. The non-executive Investment Committee members and Board Chair collectively bring years of experience in investing in South African private markets, expertise in governance, and operating businesses.
Ditiro has been a beneficiary of stakeholders, including investors, service providers, and industry bodies, who support emerging managers and, consequently, the transformation of the investment management industry in the country. An initiative that proved to be a catalyst in the Company’s progression was the Women Empowerment Mentoring and Incubation (“WE>MI”) Programme, a manager development program funded by the United States Agency for International Development (“USAID”). The program was successfully managed by MiDA Advisors and the Southern African Venture Capital and Private Equity Association (“SAVCA”) as the implementing and programming partners, respectively.
“We would like to congratulate Ditiro on a successful first close. We are proud to be part of Ditiro’s journey and believe that Ditiro Fund I is well placed to deliver compelling financial and social returns, including much needed job creation,” says Olwethu Cata, Chief Executive Officer and Investment Committee Member at Thuso Partners.
“Congratulations to Ditiro Capital on their achievement of reaching their first close. We proudly stand alongside this dynamic asset manager, exemplifying a commitment to responsible investing and paving the way as a black women-owned and managed private equity fund manager. At RisCura, our dedication to improving gender diversity and driving transformation in the industry remains steadfast,” says Chad Ward, Head of Investment Research South Africa and Portfolio Manager on the Manager Development Programme at RisCura.
“Ditiro looks forward to partnering with like-minded stakeholders as it deploys the raised capital into a portfolio of quality assets while continuing to raise the remaining balance of the Fund,” concludes Nhlumayo.