Second fund with initial $29.9 M in commitments launched by SA’s Hlayisani Capital
With ZAR500 million (US $29.9 million) in capital already committed, South African investment firm Hlayisani Capital has formally unveiled its second technology-focused venture vehicle, the Hlayisani Venture Fund II (HVF II).
The SME ecosystem is the focus of Johannesburg-based Hlayisani Capital, which aims to close the funding gap that currently exists in South Africa between early-stage venture capital and more conventional private equity.
It specializes in expanding these SMEs into large, successful businesses that operate across multiple territories, create jobs, and generate export revenue domestically. It provides strategic support and capital to high-growth, highly scalable SMEs with a track record of success.
A combination of institutional and private backers, including the Public Investment Corporation (PIC) and the SA SME Fund, have already committed ZAR500 million to its second fund, HVF II. As it prepares for a final close, which is set for June 2026, Hlayisani Capital is still in talks with possible institutional participants.
With more than ZAR1 billion ($60 million) in assets under management, Hlayisani Capital focuses on high-growth, technologically advanced South African businesses. Particularly in industries like artificial intelligence (AI), fintech, e-health, ed-tech, and digital infrastructure, the new fund focuses on Series A-stage businesses that have demonstrated product-market fit and are ready for growth.
HVF II has already made investments in three portfolio companies: Cogitait AI, which develops AI technologies to improve automation and operational intelligence for commercial users; Spatialedge, an AI startup that creates enterprise-grade machine learning tools to help businesses make quicker, data-driven decisions; and Tractor Outdoor Media, a digital outdoor advertising operator.
