Fund profile / South Africa

Ninety One

Geography: South Africa
Stage: Series A
Fund size: $260M
Focus: SaaS
Signals: Published

N°01 / About

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.

N°02 / Thesis

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

bond markets

growth vs inflation divergence

EM equities

technology

early-cycle themes

Bullish Signals

50+ IMF/World Bank meetings combined experienceexternal

Active EM debt macro commentaryexternal

Ninety One: 158k+ 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

Growth vs inflation divergence: UK 80% inflation, US 15%linkedin

Real yields vs inflation yields signal different thingslinkedin

EM tech early cycle, not bubble, structurally differentlinkedin

4Factor framework: EM equity cycle tech outperformance driverlinkedin

Contrarian Signals

Professional investors only — access limitedexternal

Macro noise risk — geopolitics dominantlinkedin

Rising energy prices bond yields keep uncertaintycnbc

Global bond selloff complicates infrastructure yield forecastinglinkedin

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

Distinguish real yield vs inflation yield impacts on projects

Consider EM tech themes early in structural cycle

Founder Don'ts

Avoid short-term energy projects without DFI backing

Skip emerging market infrastructure without climate angle

Underestimate capital mobilisation at scale requirement

45 signals on Ninety One

18 bullish · 4 contrarian · 8 pitch do's · 3 don'ts · 12 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size$260M

Saves0

Website

People

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

Archie HartPortfolio Manager

Varun LaijawallaPortfolio Manager

N°04 / See also

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Location: South Africa
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Seedstars Africa Ventures I

Fund size$42M

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Manager: Maxime Bouan, Tamim El Zein, Bruce Nsereko Lule

Seed

Ai Ml

Climate Sustainability

Fintech

Saas