Ninety One

South Africa

Series A

About Ninety One

Ninety One is a venture capital firm based in South Africa, focusing on Series A stage investments. The fund actively supports founders building innovative solutions in SaaS, providing strategic guidance and capital to help startups scale.

Investment Focus

Location / RegionSouth Africa

Funding StageSeries A

Industry Focus

Saas

Investor Signals Profile

active

Sweet Spot

EM infrastructure founders: India renewables, climate-aligned, DFI syndication

EM debt

macro

infrastructure

climate

renewable energy

commodities

geopolitics

Bullish Signals

50+ IMF/World Bank meetings combined experienceexternal

Active EM debt macro commentaryexternal

Ninety One: 156k+ LinkedIn followerslinkedin

Cuts through Middle East conflict noiselinkedin

Behind-the-scenes IMF/World Bank takeaways publishedlinkedin

EAAIF syndication: Blueleaf Energy mezzanine infrastructure deallinkedin

Active India low-carbon energy transition backinglinkedin

BII + private investor mezzanine syndication livelinkedin

Capital mobilisation at scale India renewable focuslinkedin

Nigeria sentiment most positive in two decadesreuters

El Niño climate shocks food inflation expertisereuters

Copper/commodity tariff/demand deep macro commentarybloomberg

Oil majors turnaround + energy transition insightsbarrons

Bond markets infrastructure boom comparison frameworkcnbc

Contrarian Signals

Professional investors only — access limitedexternal

Macro noise risk — geopolitics dominantlinkedin

Rising energy prices bond yields keep uncertaintycnbc

Founder Do's

Target India/Asia renewable energy with strong long-term fundamentals

Align with development finance institution + private investor syndication

Focus low-carbon economy transition plays

Structure mezzanine debt for climate infrastructure scale

Partner DFI + private capital mobilisation

Leverage commodity/food inflation climate angle

Founder Don'ts

Avoid short-term energy projects without DFI backing

Skip emerging market infrastructure without climate angle

Underestimate capital mobilisation at scale requirement

Key GPs & Partners

Aurelie Martin

EM Expert

EM debtmacroIMF/World Bank

Thys Louw

EM Expert

EM debtCFAmacro

Nicolas Jaquier

EM Expert

EM debtmacrogeopolitics

HdT

Hendrik du Toit

Founder & CEO

infrastructureemerging marketsclimate

Martijn Proos

Partner

infrastructuresyndicationDFI

Leslie Maasdorp

Partner

infrastructureclimateAfrica/Asia

George Cheveley

Portfolio Manager

commoditiescoppermacro

Paul Gooden

Head of Natural Resources

energyoil&gasstrategy

John Stopford

Head of Managed Income

bondsinfrastructuregrowth

Sahil Mahtani

Investment Institute Director

equitiesAImacro

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Fund Overview

Fund Size$260M

Saves0

Website

Key People

Nathaniel Micklem

Aurelie MartinEM Expert

Thys LouwEM Expert

Nicolas JaquierEM Expert

Hendrik du ToitFounder & CEO

Martijn ProosPartner

Leslie MaasdorpPartner

George CheveleyPortfolio Manager

Paul GoodenHead of Natural Resources

John StopfordHead of Managed Income

Sahil MahtaniInvestment Institute Director

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