The South African Private Equity and Venture Capital Association (SAVCA) has launched a Fund Manager Development Programme that aims to increase black-owned, female-owned, and female-led fund management companies.
The South African Private Equity and Venture Capital Association has partnered with the First National Bank and South Africa’s SME fund in launching the programme.
According to a recent SAVCA industry survey, the percent of female and black professionals that exist in South Africa’s private equity industry increased to 29.6% and 56.9% respectively in 2018, compared to 21.8% and 50.9% in 2017.
Women from different fund management companies will be selected to participate in the programme. The selected participants will come from seven generalist private equity funds, four infrastructure funds and two venture capital funds.
Melanie De Nysschen, the FMDP Programme manager said that the programme will address challenges faced by fund managers including fundraising, access to networks, and working capital. The participants will be coached and mentored.
The SAVCA Chief Executive Officer, Tanya Van Lil, stated that SAVCA will remain committed to accelerating sustainable transformation of the industry.
This will be achieved by developing high potential female and black fund managers and by attracting new talent into the Private Equity Sector.
