Organization · Fund of Funds
SA SME Fund
The SA SME Fund is a South African fund of funds that allocates capital to accredited fund managers investing in small and medium enterprises (SMEs). It focuses on supporting scalable SMEs with potential for growth and sustainable employment creation.
Overview
What SA SME Fund does
What SA SME Fund is
The SA SME Fund is a South African fund of funds that allocates capital to accredited fund managers investing in small and medium enterprises (SMEs). It focuses on supporting scalable SMEs with potential for growth and sustainable employment creation.
How it participates in the startup ecosystem
The current public profile supports funder and allocator capabilities. Each capability below is shown separately so organization identity and role-specific information do not get conflated.
Operational profile
Organization status and context
Organization status describes the entity itself. Funding and program availability appear within the relevant capability profile.
- Operational status
- Active
- Organization type
- Fund of Funds
- Structured capabilities
- Funder · Allocator
- Last reviewed
- March 6, 2026
Official channels
Find SA SME Fund elsewhere
Open the official website or a supported primary organization account.
Capability profile
SA SME Fund as a funder
Investment thesis
The SA SME Fund invests in venture capital and growth-oriented equity funds targeting small and medium enterprises, with a commitment to supporting black-African owned businesses.
Focus narrative
The SA SME Fund invests in venture capital and growth-oriented equity funds that target small and medium enterprises. It mandates that 50% of its capital be invested in black-African owned and managed businesses, with an additional 25% allocated to Indian and Coloured owned and managed businesses. The remaining 25% is at the discretion of the fund manager. The businesses targeted typically have an enterprise value of less than R100 million.
Focus and fit
- Stages
- Seed · Pre-seed · Seed+ · Growth Equity
Availability
- Currently deploying
- Not published
Portfolio and track record
Portfolio context
The SA SME Fund has invested in various notable funds and initiatives, including Knife Capital, a growth equity investment firm; OneBio, a venture capital fund for biotech companies; Savant Capital, a hardware technology incubator; PAPE Fund Managers, a black-owned private equity manager; Spartan, a debt financing house; Masisizane Fund, which supports SMEs; A2Pay, offering tech solutions to informal retail; SummerPlace, a woman-owned private equity fund; University Technology Fund, for commercializing university IP; Digital Africa Ventures, supporting digital tech start-ups; and Grindstone Ventures, a female-led fund for early-stage innovation-driven companies.
Capability profile
SA SME Fund as an allocator
Allocator mandate
The SA SME Fund operates as a fund of funds, allocating investment capital to accredited fund managers who invest directly in scalable SMEs with potential for growth and sustainable employment creation. It aims to foster economic growth in South Africa by supporting diverse ownership in the SME sector.
Focus narrative
The SA SME Fund focuses on investing in venture capital and growth-oriented equity funds that target small and medium enterprises (SMEs). It mandates that 50% of its capital be allocated to black-African owned and managed businesses, with an additional 25% for Indian and Coloured owned and managed businesses. The remaining 25% is at the discretion of the fund manager. The targeted businesses typically have an enterprise value of less than R100 million.
Value and partnership
The SA SME Fund provides capital to fund managers who are focused on investing in SMEs, thereby enhancing their ability to support businesses that contribute to job creation and economic growth in South Africa.
Mandate and fit
- Fund stages
- Seed Funds · Growth
- Asset classes
- Venture · Growth Equity
- Regions
- Africa
Portfolio context
Portfolio context
The SA SME Fund has invested in notable funds and initiatives including Knife Capital, OneBio, Savant Capital, PAPE Fund Managers, Spartan, Masisizane Fund, A2Pay, SummerPlace, University Technology Fund, Digital Africa Ventures, and Grindstone Ventures.
Common questions
What to know about SA SME Fund
Upseed classifies SA SME Fund under the Fund of Funds organization type. Its current public profile includes funder and allocator capabilities.
Source and update disclosure
Know what this page is based on
Source basis
Public organization and program material, official websites, and structured Upseed records.
Last reviewed
March 6, 2026
Known limits
Capability profiles appear only when a structured public profile also contains decision-useful role evidence. Terms and availability can change.
Upseed is an independent guide. It is not affiliated with or endorsed by the organization described on this page.