What we do, and how we do it

Vumela was established in 2009 by FNB Business Banking and Edge Growth, as they wanted to work together to create an innovative model that filled the gaps in the current SME funding and support landscape. While Vumela is an SME growth fund, it also functions as FirstRand’s primary Enterprise Development and Supply Development vehicle, able to fulfil both SME funding and growth needs, and corporate ESD requirements.

Vumela was capitalised by FirstRand in 2010. Within the first four years, we’d invested R90 million into eight high growth SMEs, and created a total of 400 jobs. We launched our second fund in 2015, after a further investment of R100 million from FirstRand and R127 million from the Jobs Fund. Within the first year of launching this second fund, we’ve committed R43 million to five investments that are expected to create over 1800 new jobs.

The first fund of its kind in South Africa, Vumela’s main goals are to help alleviate poverty in South Africa by creating jobs, and to generate a return for its beneficiaries: the Shalamuka Foundation and the FirstRand Group.

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Non-financial Growth Support

We offer non-financial growth support that includes participation in our cutting edge accelerator programme for Scale Ups called 10X-e.

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Majority black owned

We’re majority black owned, so any shareholding we take will be considered black equity.

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Provide access to market

We provide access to market through supplier development relationships with many large South African corporates.

What’s in it for you?

Vumela Enterprise Development Fund About Financial Backer Icon

You get much more than a financial backer.

Vumela Enterprise Development Fund About Valuable Network

You’ll get access to a valuable network.

Vumela Enterprise Development Fund About Empowered Icon

Your business will be empowered.

Our team brings a

wealth of experience to Vumela

Our leadership, advisor, investment and growth support team brings a wealth of experience to Vumela. This experience covers everything from entrepreneurship, finance and banking to business strategy, innovation and social impact investment. The Growth Support team also includes Super Coaches who are seasoned entrepreneurial / scale up leaders. Vumela will match founder teams to a Super Coach that has faced the same kind of scale up challenges that you are likely to, based on your unique business and journey.

Vumela Enterprise Development Fund Team Altaaf Aboo

Altaaf Aboo

Associate Principal

Qualifications:
B.Comm (Economics), University of South Africa; CFA Charterholder

Altaaf is an Investment Associate on the Vumela Fund who focuses on sourcing and executing investments in the dynamic scale-up businesses of the future.

He has over ten years of experience in multidisciplinary roles across the Financial and Energy sectors. Prior to Edge Growth, Altaaf’s most recent role was at the Johannesburg Stock Exchange where he quickly rose through the ranks to head up a team of Capital Market’s financial and pricing specialists.

Altaaf relishes in the opportunity to unearth innovative and visionary entrepreneurs across the emerging landscape to partner with.

Vumela Enterprise Development Fund Team Andrew

Andrew Buchanan

Head of Post Investment Management

Qualifications:
B.Comm, UNISA; FCMA; CGMA,
Andrew is a senior finance and investment professional with over 20 years’ experience in corporate restructures and turnarounds. He is a member of the Turnaround Management Association.

For nine years, Andrew worked for a US$100m US VC Fund in the finance and investment teams that was mandated to invest in 11 SADC countries. From there, Andrew was employed by a South African Dfi in various roles in the post-investment and portfolio management units. Andrew was also responsible for creating their Restructures unit.

Prior to this, Andrew’s work with the South African Enterprise Development Fund (SAEDF) and National Empowerment Fund (NEF) has given him extensive experience in credit, governance, strategy, valuations, audits, risk, BEE, IT systems, organisational processes, departmental and company strategy, legal compliance and litigation.

Vumela Enterprise Development Fund Team Dave

Dave Watson

Super Coach

Dave spent the last four decades scaling up industrial business in South Africa across the glass, paint and plastic components sectors. He is a general manager with specific expertise in production environments with complex logistics, inventory management and marketing.

Dave has worked closely with Brand Inscentives and BFG Retail to date.

Vumela Enterprise Development Fund Team Fatima

Fatima Munshi

PIM Associate

Qualifications:
B. Com Honours (Economics) and MBA, University of Cape Town

Fatima is an Investment Analyst on the Vumela Fund where she focuses on instilling good governance at portfolio companies, assisting with the creation of strong boards and supporting firms to achieve their targets. Her role includes the post-investment monitoring of high job creation deals.

Before joining the Vumela team, Fatima worked as a project manager in Edge Growth’s Cape Town office looking after internal and external projects for the firm. Prior to joining Edge Growth, Fatima was a senior project manager and manufacturing analyst with five years of experience in clothing and automotive industries. She is motivated by efficiency improvements and helping SMEs grow to their full earning and job creating potential.

The Vumela Enterprise Development Fund Mugidi Mbedzi

Mugidi Mbedzi

Fund Operations Manager

Qualifications:
BCom Accounting, University of Free State

Mugidi manages the financial and legal administration of the Vumela Enterprise Development Fund. His role at Vumela allows him to work with Edge Growth investment team closely to enable him to report and present accurate management accounts and complete balance sheet. Mugidi is involved in the investment process from the early stages throughout its lifetime overseeing the financial impact and all the legal requirements ensuring that it fulfils the set objectives of the fund.

Before Vumela, Mugidi worked for FNB Commercial Head Office growth segment finance for 3 years supporting National Sales, Value-adds and the Growth Acquisition teams. It is there where he worked closely with various SMEs across different sectors in their growth, support and sustainability through various programs and products tailored for their specific needs. He joined Vumela to further his career in Developmental Funding and Equity Accounting.

The Vumela Enterprise Development Fund Greg Voigt

Greg Voigt

Advisory Board

Qualifications:
B Comm, University of Witwatersrand; B. Acc, UNISA, CA (SA)
Greg is an Advisor to Adlevo Capital, after having been a partner at the firm from 2007 to 2014.

Prior to this, Greg was the founder and Managing Partner of Axis Venture Associates (AVA), a South African venture capital advisory consultancy to government, technology funds, and corporate spinouts. Before this, he was a Principal & Deal Executive at Brait Technology Fund in South Africa, where he sourced, evaluated, and sponsored investments.

Prior to this, Greg was a Finance Executive with Sun International Limited, where he was responsible for financial analysis on more than $400 million of investment. He joined Sun International from Rightsizing Technologies, a Sun Microsystems reseller, where he was a Business Development Executive. Greg started his career as an accountant with KPMG in Johannesburg.

Vumela Enterprise Development Fund Team Heather

Heather Lowe

Investment Committee

Qualifications:
Diploma in Technology and Innovation, the Da Vinci Institute

Heather started and manages Enterprise Development for FirstRand, and, together with Edge Growth, established the Vumela Enterprise Development Fund. She works with Edge to manage Vumela on the deployment and post investment sides of the business, as well as playing a critical stakeholder management role.

Heather has been in the banking industry for 20 years, working in retail and commercial banking, product development, fund management and enterprise and supplier development. She has extensive knowledge of the SME ecosystem and experience in debt financing, traditional bank financing products, sales and governance in the deal-making process.

Heather was selected as one of 30 women from all of South Africa’s banking groups to participate in the first Bankseta Womens’ Development Programme. She is the media spokesperson on SME development, job creation and ESD for FNB, and is responsible for FirstRand’s Enterprise and Supplier Development strategy development and implementation.

Vumela Enterprise Development Fund Team Janice

Janice Johnston

Portfolio Head

Qualifications:
Bus. Sci (Finance), UCT; CFA Charterholder

Janice works as an Head of Investing on the Vumela ED Fund. With over 15 years’ financial industry and investment experience, she’s passionate about helping entrepreneurs realise their growth potential and deliver significant job creation.

Janice began her career in structured finance at Standard Bank in the Corporate and Investment Banking divisions. After that she spent ten years with Prudential Capital in London, most recently as Director, Principal Finance investing in loan and debt capital market transactions predominately in the structured credit, infrastructure and property and leisure sectors. Upon her return to South Africa, Janice worked as a consultant for PwC on the African Bank debt restructuring.

Vumela Enterprise Development Fund Team Sam

Sam Tennant

Principal

Qualifications:
CA (SA)

Sam is an Associate Principal on the VumelaFund, with a focus on the sourcing and post-investment management of high job-creating transactions.

After completing his articles at EY in Cape Town, specialising in the retail and asset management sectors, Sam worked in New York for Makosi Inc. as a financial services consultant on multinational broker-dealer and private equity funds.

Sam is passionate about contributing to the development of a platform for socio-economic change within South Africa through the creation of jobs, by supporting and investing in local entrepreneurs.

Vumela Enterprise Development Fund Team Katherine

Katherine Saunders

Principal

Qualifications:
BCom (Finance), University of Johannesburg; PGD (Financial Planning), University of Free State; CFP®

Katherine assists the Post Investment Management team with their portfolio companies’ performance, development and corporate governance needs, to ensure entrepreneurs unlock their potential in growth and job creation.

Katherine has over 10 years of experience within the financial services industry, mainly in corporate and regulatory advice to listed and unlisted South African and multinational companies. Her experience in corporate advisory spans through structured products and equity capital markets, to assisting in the implementation of clients’ strategic goals.

Prior to joining Edge Growth Katherine had the pleasure of working with many companies, and their board members, spanning a wide range of industries.

The Vumela Enterprise Development Fund Mike Laing

Mike Laing

Advisory Board

The Vumela Enterprise Development Fund Mike Sage

Mike Sage

Advisory Board

Qualifications: CA (SA), Masters in Finance

Mike has 19 years of banking experience across a wide range of relationship and product disciplines.

Mike joined FNB in 2016 from Investec where he held the position of Head of Africa Coverage. Mike previously worked at FirstRand for 13 years focusing on Leveraged Finance and Debt Capital Markets in Africa and South Africa

The Vumela Enterprise Development Fund Dinao Lerutla

Dinao Lerutla

Advisory Board

Dinao is currently the chief executive of Alula Water (a water and wastewater engineering business), and Maya Group, an infrastructure finance and corporate advisory boutique. Among other recent projects, she has led the team that advised on national rollout of student housing on a PPP basis; the feasibility study on an alternative and affordable student financing model to partner with NSFAS for the low income and missing middle households. Her passion is originating and implementing solutions that are business-oriented, aimed at addressing socio-economic challenges in South Africa.

Dinao has 17 years working experience, spent in various roles within corporate and investment banking at corporates such as Nedbank Corporate Banking, EY Corporate Finance as well as Royal Bafokeng Holdings, and in the latter part establishing her own business. Dinao is currently an independent, non-executive director, at FutureGrowth Asset Managers and Edge Growth. She is a member of the Entrepreneurs Forum subcommittee of AWCA (African Women Chartered Accountants) aimed at developing women businesses. She received the 2018 Entrepreneur of the Year award from Standard Bank Rising Star Awards and was in the 2017 EY Winning Women cohort, aimed at supporting high potential women-owned businesses to become significant players in the mainstream economy.

The Vumela Enterprise Development Fund Mooketsi Diseko

Mooketsi Diseko

Investment Associate

The Vumela Enterprise Development Fund Nabeela Vally

Nabeela Vally

PIM Associate

The Vumela Enterprise Development Fund Rich Rose

Richard Rose

Investor Relations

Qualifications:
B.Bus Sci (Information Systems), UCT; CFA Charterholder

Richard has been at Edge since 2012, and manages the Vumela Fund. In this role, he’s able to combine his passion for investing, technology and job creation through his involvement in at least 10 early stage investments.

Richard has spent the last 10 years investing in both new ventures and established business in South Africa and the UK. He loves working with passionate entrepreneurs and learning about disruptive new business models. He’s a qualified CFA but is really a techie at heart, having studied Information Systems at university.

The Vumela Enterprise Development Fund Nivesh Pather

Nivesh Pather

Senior Investment Associate

Nivesh Pather BI

Qualifications: CA (SA) , CFA

Nivesh is a Senior Associate on the Vumela Fund, with a focus on the sourcing, structuring and executing of high job-creating transactions.

After completing his articles at KPMG in Johannesburg, specialising in the trading and derivatives desks of financial services entities, Nivesh worked in Amsterdam for KPMG on impact private equity funds and subsequently as an M&A analyst for a boutique corporate finance house in South Africa.

Nivesh is passionate about the utilisation of private capital to address social challenges faced in South Africa, specifically through the creation of jobs, by identifying and investing in local entrepreneurs.

The Vumela Enterprise Development Fund Shivani Pather

Shivani Pather

Monitoring and Compliance Officer

Qualifications: LLB (University of KwaZulu-Natal)

Shivani is the Monitoring and Compliance Officer on the Vumela Fund where she focuses on providing support to the team in relation to the monitoring of portfolio companies. She also assists the team by keeping a proper record of all securities, tracking key legal undertakings and ensuring that the overall legal compliance of all investments are in order.

Before joining Edge, Shivani completed her legal articles and thereafter qualified as an attorney of the High Court of SA. Her prior work experience included banking, wills and estates, property law and commercial litigation.

Vumela Enterprise Development Fund Team Thapelo

Thapelo Masoko

Portfolio Head

Vumela Enterprise Development Fund Team Wessel

Wessel Sonnekus

Associate

Qualifications:
B.Acc (Honours), Stellenbosch University; Chartered Accountant (SA)

Wessel looks after the performance and development needs of entrepreneurs while also delivering projects to portfolio companies. His role at Edge allows him to

work with high-growth small companies and assist in unlocking their potential, ultimately working towards sustainable job creation in South Africa.

Before Edge, Wessel completed his accounting articles and spent the next two years in financial modelling in the telecommunications industry, building various business cases and decision-making tools.

Vumela Enterprise Development Fund Team Andrew

Andrew Buchanan

Head of Post Investment Management

Qualifications:
B.Comm, UNISA; FCMA; CGMA,
Andrew is a senior finance and investment professional with over 20 years’ experience in corporate restructures and turnarounds. He is a member of the Turnaround Management Association.

For nine years, Andrew worked for a US$100m US VC Fund in the finance and investment teams that was mandated to invest in 11 SADC countries. From there, Andrew was employed by a South African Dfi in various roles in the post-investment and portfolio management units. Andrew was also responsible for creating their Restructures unit.

Prior to this, Andrew’s work with the South African Enterprise Development Fund (SAEDF) and National Empowerment Fund (NEF) has given him extensive experience in credit, governance, strategy, valuations, audits, risk, BEE, IT systems, organisational processes, departmental and company strategy, legal compliance and litigation.

Vumela Enterprise Development Fund Team Heather

Heather Lowe

Head of Enterprise and Supplier Development, FNB and Co-Founder Vumela

Qualifications:
Diploma in Technology and Innovation, the Da Vinci Institute

Heather started and manages Enterprise Development for FirstRand, and, together with Edge Growth, established the Vumela Enterprise Development Fund. She works with Edge to manage Vumela on the deployment and post investment sides of the business, as well as playing a critical stakeholder management role.

Heather has been in the banking industry for 20 years, working in retail and commercial banking, product development, fund management and enterprise and supplier development. She has extensive knowledge of the SME ecosystem and experience in debt financing, traditional bank financing products, sales and governance in the deal-making process.

Heather was selected as one of 30 women from all of South Africa’s banking groups to participate in the first Bankseta Womens’ Development Programme. She is the media spokesperson on SME development, job creation and ESD for FNB, and is responsible for FirstRand’s Enterprise and Supplier Development strategy development and implementation.

Vumela Enterprise Development Fund Team Janice

Janice Johnston

Head of Investing

Qualifications:
Bus. Sci (Finance), UCT; CFA Charterholder

Janice works as an Head of Investing on the Vumela ED Fund. With over 15 years’ financial industry and investment experience, she’s passionate about helping entrepreneurs realise their growth potential and deliver significant job creation.

Janice began her career in structured finance at Standard Bank in the Corporate and Investment Banking divisions. After that she spent ten years with Prudential Capital in London, most recently as Director, Principal Finance investing in loan and debt capital market transactions predominately in the structured credit, infrastructure and property and leisure sectors. Upon her return to South Africa, Janice worked as a consultant for PwC on the African Bank debt restructuring.

The Vumela Enterprise Development Fund Mike Sage

Mike Sage

Advisory Board

Qualifications: CA (SA), Masters in Finance

Mike has 19 years of banking experience across a wide range of relationship and product disciplines.

Mike joined FNB in 2016 from Investec where he held the position of Head of Africa Coverage. Mike previously worked at FirstRand for 13 years focusing on Leveraged Finance and Debt Capital Markets in Africa and South Africa

The Vumela Enterprise Development Fund Rich Rose

Richard Rose

Fund Head

Qualifications:
B.Bus Sci (Information Systems), UCT; CFA Charterholder

Richard has been at Edge since 2012, and manages the Vumela Fund. In this role, he’s able to combine his passion for investing, technology and job creation through his involvement in at least 10 early stage investments.

Richard has spent the last 10 years investing in both new ventures and established business in South Africa and the UK. He loves working with passionate entrepreneurs and learning about disruptive new business models. He’s a qualified CFA but is really a techie at heart, having studied Information Systems at university.

Vumela Enterprise Development Fund Team Thapelo

Thapelo Masoko

Position

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Curabitur lorem tellus, ornare non mauris at, auctor consequat nibh. Mauris egestas odio id ipsum sodales, a aliquet nulla tincidunt. Vivamus in scelerisque odio. Donec sit amet neque quis urna accumsan porttitor nec vitae felis. Aliquam consequat auctor lectus, luctus mattis odio convallis et. Nam vehicula felis a ex pretium, sit amet eleifend nisi sodales. Morbi ut erat molestie, accumsan sem ut, vestibulum mauris. In hac habitasse platea dictumst. Nunc vitae lorem venenatis tortor fringilla accumsan. Fusce ac dapibus ex, vitae tristique lacus. Quisque mollis, libero et pulvinar auctor, est enim semper metus, quis egestas ipsum justo id ligula. Curabitur euismod neque ac lobortis sodales. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam non tincidunt metus, eget dignissim neque. Cras quam ipsum, scelerisque vitae elementum sit amet, pharetra et sem.

Vumela Enterprise Development Fund Team Altaaf Aboo

Altaaf Aboo

Associate Principal

Qualifications:
B.Comm (Economics), University of South Africa; CFA Charterholder

Altaaf is an Investment Associate on the Vumela Fund who focuses on sourcing and executing investments in the dynamic scale-up businesses of the future.

He has over ten years of experience in multidisciplinary roles across the Financial and Energy sectors. Prior to Edge Growth, Altaaf’s most recent role was at the Johannesburg Stock Exchange where he quickly rose through the ranks to head up a team of Capital Market’s financial and pricing specialists.

Altaaf relishes in the opportunity to unearth innovative and visionary entrepreneurs across the emerging landscape to partner with.

Vumela Enterprise Development Fund Team Janice

Janice Johnston

Portfolio Head

Qualifications:
Bus. Sci (Finance), UCT; CFA Charterholder

Janice works as an Head of Investing on the Vumela ED Fund. With over 15 years’ financial industry and investment experience, she’s passionate about helping entrepreneurs realise their growth potential and deliver significant job creation.

Janice began her career in structured finance at Standard Bank in the Corporate and Investment Banking divisions. After that she spent ten years with Prudential Capital in London, most recently as Director, Principal Finance investing in loan and debt capital market transactions predominately in the structured credit, infrastructure and property and leisure sectors. Upon her return to South Africa, Janice worked as a consultant for PwC on the African Bank debt restructuring.

The Vumela Enterprise Development Fund Mooketsi Diseko

Mooketsi Diseko

Investment Associate

The Vumela Enterprise Development Fund Nivesh Pather

Nivesh Pather

Senior Investment Associate

Nivesh Pather BI

Qualifications: CA (SA) , CFA

Nivesh is a Senior Associate on the Vumela Fund, with a focus on the sourcing, structuring and executing of high job-creating transactions.

After completing his articles at KPMG in Johannesburg, specialising in the trading and derivatives desks of financial services entities, Nivesh worked in Amsterdam for KPMG on impact private equity funds and subsequently as an M&A analyst for a boutique corporate finance house in South Africa.

Nivesh is passionate about the utilisation of private capital to address social challenges faced in South Africa, specifically through the creation of jobs, by identifying and investing in local entrepreneurs.

Vumela Enterprise Development Fund Team Sam

Sam Tennant

Principal

Qualifications:
CA (SA)

Sam is an Associate Principal on the VumelaFund, with a focus on the sourcing and post-investment management of high job-creating transactions.

After completing his articles at EY in Cape Town, specialising in the retail and asset management sectors, Sam worked in New York for Makosi Inc. as a financial services consultant on multinational broker-dealer and private equity funds.

Sam is passionate about contributing to the development of a platform for socio-economic change within South Africa through the creation of jobs, by supporting and investing in local entrepreneurs.

Vumela Enterprise Development Fund Team Thapelo

Thapelo Masoko

Portfolio Head

Vumela Enterprise Development Fund Team Andrew

Andrew Buchanan

Head of Post Investment Management

Qualifications:
B.Comm, UNISA; FCMA; CGMA,
Andrew is a senior finance and investment professional with over 20 years’ experience in corporate restructures and turnarounds. He is a member of the Turnaround Management Association.

For nine years, Andrew worked for a US$100m US VC Fund in the finance and investment teams that was mandated to invest in 11 SADC countries. From there, Andrew was employed by a South African Dfi in various roles in the post-investment and portfolio management units. Andrew was also responsible for creating their Restructures unit.

Prior to this, Andrew’s work with the South African Enterprise Development Fund (SAEDF) and National Empowerment Fund (NEF) has given him extensive experience in credit, governance, strategy, valuations, audits, risk, BEE, IT systems, organisational processes, departmental and company strategy, legal compliance and litigation.

Vumela Enterprise Development Fund Team Dave

Dave Watson

Super Coach

Dave spent the last four decades scaling up industrial business in South Africa across the glass, paint and plastic components sectors. He is a general manager with specific expertise in production environments with complex logistics, inventory management and marketing.

Dave has worked closely with Brand Inscentives and BFG Retail to date.

Vumela Enterprise Development Fund Team Fatima

Fatima Munshi

PIM Associate

Qualifications:
B. Com Honours (Economics) and MBA, University of Cape Town

Fatima is an Investment Analyst on the Vumela Fund where she focuses on instilling good governance at portfolio companies, assisting with the creation of strong boards and supporting firms to achieve their targets. Her role includes the post-investment monitoring of high job creation deals.

Before joining the Vumela team, Fatima worked as a project manager in Edge Growth’s Cape Town office looking after internal and external projects for the firm. Prior to joining Edge Growth, Fatima was a senior project manager and manufacturing analyst with five years of experience in clothing and automotive industries. She is motivated by efficiency improvements and helping SMEs grow to their full earning and job creating potential.

Vumela Enterprise Development Fund Team Katherine

Katherine Saunders

Principal

Qualifications:
BCom (Finance), University of Johannesburg; PGD (Financial Planning), University of Free State; CFP®

Katherine assists the Post Investment Management team with their portfolio companies’ performance, development and corporate governance needs, to ensure entrepreneurs unlock their potential in growth and job creation.

Katherine has over 10 years of experience within the financial services industry, mainly in corporate and regulatory advice to listed and unlisted South African and multinational companies. Her experience in corporate advisory spans through structured products and equity capital markets, to assisting in the implementation of clients’ strategic goals.

Prior to joining Edge Growth Katherine had the pleasure of working with many companies, and their board members, spanning a wide range of industries.

The Vumela Enterprise Development Fund Nabeela Vally

Nabeela Vally

PIM Associate

The Vumela Enterprise Development Fund Shivani Pather

Shivani Pather

Monitoring and Compliance Officer

Qualifications: LLB (University of KwaZulu-Natal)

Shivani is the Monitoring and Compliance Officer on the Vumela Fund where she focuses on providing support to the team in relation to the monitoring of portfolio companies. She also assists the team by keeping a proper record of all securities, tracking key legal undertakings and ensuring that the overall legal compliance of all investments are in order.

Before joining Edge, Shivani completed her legal articles and thereafter qualified as an attorney of the High Court of SA. Her prior work experience included banking, wills and estates, property law and commercial litigation.

Vumela Enterprise Development Fund Team Wessel

Wessel Sonnekus

Associate

Qualifications:
B.Acc (Honours), Stellenbosch University; Chartered Accountant (SA)

Wessel looks after the performance and development needs of entrepreneurs while also delivering projects to portfolio companies. His role at Edge allows him to

work with high-growth small companies and assist in unlocking their potential, ultimately working towards sustainable job creation in South Africa.

Before Edge, Wessel completed his accounting articles and spent the next two years in financial modelling in the telecommunications industry, building various business cases and decision-making tools.

The Vumela Enterprise Development Fund Mugidi Mbedzi

Mugidi Mbedzi

Fund Operations Manager

Qualifications:
BCom Accounting, University of Free State

Mugidi manages the financial and legal administration of the Vumela Enterprise Development Fund. His role at Vumela allows him to work with Edge Growth investment team closely to enable him to report and present accurate management accounts and complete balance sheet. Mugidi is involved in the investment process from the early stages throughout its lifetime overseeing the financial impact and all the legal requirements ensuring that it fulfils the set objectives of the fund.

Before Vumela, Mugidi worked for FNB Commercial Head Office growth segment finance for 3 years supporting National Sales, Value-adds and the Growth Acquisition teams. It is there where he worked closely with various SMEs across different sectors in their growth, support and sustainability through various programs and products tailored for their specific needs. He joined Vumela to further his career in Developmental Funding and Equity Accounting.

Vumela Enterprise Development Fund Team Andrew

Andrew Buchanan

Head of Post Investment Management

Qualifications:
B.Comm, UNISA; FCMA; CGMA,
Andrew is a senior finance and investment professional with over 20 years’ experience in corporate restructures and turnarounds. He is a member of the Turnaround Management Association.

For nine years, Andrew worked for a US$100m US VC Fund in the finance and investment teams that was mandated to invest in 11 SADC countries. From there, Andrew was employed by a South African Dfi in various roles in the post-investment and portfolio management units. Andrew was also responsible for creating their Restructures unit.

Prior to this, Andrew’s work with the South African Enterprise Development Fund (SAEDF) and National Empowerment Fund (NEF) has given him extensive experience in credit, governance, strategy, valuations, audits, risk, BEE, IT systems, organisational processes, departmental and company strategy, legal compliance and litigation.

Vumela Enterprise Development Fund Team Heather

Heather Lowe

Investment Committee

Qualifications:
Diploma in Technology and Innovation, the Da Vinci Institute

Heather started and manages Enterprise Development for FirstRand, and, together with Edge Growth, established the Vumela Enterprise Development Fund. She works with Edge to manage Vumela on the deployment and post investment sides of the business, as well as playing a critical stakeholder management role.

Heather has been in the banking industry for 20 years, working in retail and commercial banking, product development, fund management and enterprise and supplier development. She has extensive knowledge of the SME ecosystem and experience in debt financing, traditional bank financing products, sales and governance in the deal-making process.

Heather was selected as one of 30 women from all of South Africa’s banking groups to participate in the first Bankseta Womens’ Development Programme. She is the media spokesperson on SME development, job creation and ESD for FNB, and is responsible for FirstRand’s Enterprise and Supplier Development strategy development and implementation.

Vumela Enterprise Development Fund Team Janice

Janice Johnston

Head of Investing

Qualifications:
Bus. Sci (Finance), UCT; CFA Charterholder

Janice works as an Head of Investing on the Vumela ED Fund. With over 15 years’ financial industry and investment experience, she’s passionate about helping entrepreneurs realise their growth potential and deliver significant job creation.

Janice began her career in structured finance at Standard Bank in the Corporate and Investment Banking divisions. After that she spent ten years with Prudential Capital in London, most recently as Director, Principal Finance investing in loan and debt capital market transactions predominately in the structured credit, infrastructure and property and leisure sectors. Upon her return to South Africa, Janice worked as a consultant for PwC on the African Bank debt restructuring.

The Vumela Enterprise Development Fund Mike Sage

Mike Sage

Position

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Cras ullamcorper eleifend ultricies. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus et accumsan velit. Nulla vel odio id tellus lacinia ultrices ac id turpis. Nam posuere volutpat urna sit amet sagittis. Nam at mattis ipsum. Nullam augue purus, tincidunt eget nulla non, pellentesque tristique dui.

Curabitur lorem tellus, ornare non mauris at, auctor consequat nibh. Mauris egestas odio id ipsum sodales, a aliquet nulla tincidunt. Vivamus in scelerisque odio. Donec sit amet neque quis urna accumsan porttitor nec vitae felis. Aliquam consequat auctor lectus, luctus mattis odio convallis et. Nam vehicula felis a ex pretium, sit amet eleifend nisi sodales. Morbi ut erat molestie, accumsan sem ut, vestibulum mauris. In hac habitasse platea dictumst. Nunc vitae lorem venenatis tortor fringilla accumsan. Fusce ac dapibus ex, vitae tristique lacus. Quisque mollis, libero et pulvinar auctor, est enim semper metus, quis egestas ipsum justo id ligula. Curabitur euismod neque ac lobortis sodales. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam non tincidunt metus, eget dignissim neque. Cras quam ipsum, scelerisque vitae elementum sit amet, pharetra et sem.

The Vumela Enterprise Development Fund Rich Rose

Richard Rose

Fund Head

Qualifications:
B.Bus Sci (Information Systems), UCT; CFA Charterholder

Richard has been at Edge since 2012, and manages the Vumela Fund. In this role, he’s able to combine his passion for investing, technology and job creation through his involvement in at least 10 early stage investments.

Richard has spent the last 10 years investing in both new ventures and established business in South Africa and the UK. He loves working with passionate entrepreneurs and learning about disruptive new business models. He’s a qualified CFA but is really a techie at heart, having studied Information Systems at university.

The Vumela Enterprise Development Fund Dinao Lerutla

Dinao Lerutla

Advisory Board

Dinao is currently the chief executive of Alula Water (a water and wastewater engineering business), and Maya Group, an infrastructure finance and corporate advisory boutique. Among other recent projects, she has led the team that advised on national rollout of student housing on a PPP basis; the feasibility study on an alternative and affordable student financing model to partner with NSFAS for the low income and missing middle households. Her passion is originating and implementing solutions that are business-oriented, aimed at addressing socio-economic challenges in South Africa.

Dinao has 17 years working experience, spent in various roles within corporate and investment banking at corporates such as Nedbank Corporate Banking, EY Corporate Finance as well as Royal Bafokeng Holdings, and in the latter part establishing her own business. Dinao is currently an independent, non-executive director, at FutureGrowth Asset Managers and Edge Growth. She is a member of the Entrepreneurs Forum subcommittee of AWCA (African Women Chartered Accountants) aimed at developing women businesses. She received the 2018 Entrepreneur of the Year award from Standard Bank Rising Star Awards and was in the 2017 EY Winning Women cohort, aimed at supporting high potential women-owned businesses to become significant players in the mainstream economy.

The Vumela Enterprise Development Fund Greg Voigt

Greg Voigt

Advisory Board

Qualifications:
B Comm, University of Witwatersrand; B. Acc, UNISA, CA (SA)
Greg is an Advisor to Adlevo Capital, after having been a partner at the firm from 2007 to 2014.

Prior to this, Greg was the founder and Managing Partner of Axis Venture Associates (AVA), a South African venture capital advisory consultancy to government, technology funds, and corporate spinouts. Before this, he was a Principal & Deal Executive at Brait Technology Fund in South Africa, where he sourced, evaluated, and sponsored investments.

Prior to this, Greg was a Finance Executive with Sun International Limited, where he was responsible for financial analysis on more than $400 million of investment. He joined Sun International from Rightsizing Technologies, a Sun Microsystems reseller, where he was a Business Development Executive. Greg started his career as an accountant with KPMG in Johannesburg.

The Vumela Enterprise Development Fund Mike Laing

Mike Laing

Advisory Board

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Vumela’s 3rd fund is seeking majority black-owned businesses with turnover of less than R50m that operate in the FirstRand supply chain

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