Francois Botha

WEBINAR ALERT! This Friday I will be hosting Rosanne Whalley, CEO at AHL Venture Partners and Daniel Keiper-Knorr, Partner at Speedinvest for a deep dive discussion on GP-led exit strategies, designing for exits, perspectives from getting exit deals done in both African and European markets and how today's VCs should be thinking and working towards tomorrow's exits. After all, DPI is king. Join us for a refreshing conversation based on hard-won experience and expertise. Maybe we will also throw in some brand new Strategy Tools VC canvases to help you get some exits done...... Time: Friday 27th 14:00 - 15:00 CET Register: https://lnkd.in/dGSJDVSa Why you should join: - Get the latest on VC exits across EU and African markets - Hear from experienced exit deal makers - Learn how Speedinvest and AHL builds teams, processes and 2-year projects to get exit deals done - Get your hands on some of the brand new work on GP-led exits See you there! Scott Newton Link Venture Capital Link Capital #OIW #Exit #GP

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Transparency and communication with LPs are crucial for building trust and long-term relationships. Keep them informed and engaged, sharing both successes and challenges. Trust is the cornerstone of sustainable fund management. ✨

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🚨 EGYM attracts nearly $200 million in primary funding from L Catterton and Meritech at a valuation of over $1 billion 🚨 I'm excited to announce that EGYM / EGYM | DACH / EGYM Wellpass has recently secured nearly $200 million in primary funding from L Catterton and Meritech Capital, valuing the company at over $1 billion. The fundraise last year with Affinity Partners marked a significant achievement for EGYM: we were profitable, debt-free, and maintained a big chunk of the fundraise in the bank, all while experiencing rapid growth. That meant that we no longer relied on investor funds for survival; instead, we could take the time to focus on building relationships with the best possible investors to support EGYM's mission. Phew 😅 that was quite a relief as a founder, and the next round ended up happening much faster than expected. We are a fitness technology company: In my research, I identified L Catterton as the ideal partner for EGYM on the fitness and health side, given that they are the world's largest fitness investor. For the technology piece, Meritech Capital stood out as the best fit, given its deep understanding of SaaS and its success stories with leading companies like Facebook and Salesforce. Therefore, I started reaching out to both firms with the intent of building a long-term relationship, which has turned into a round of funding. I had the pleasure of meeting Marc Magliacano, a Managing Partner in the L Catterton Flagship Fund, and was impressed by his extensive experience in fitness investing. His deep industry knowledge will be invaluable as he joins our board. On the Meritech side, I was equally impressed by Paul Madera, a co-founder of the firm. His sharp questions and focus on the important elements of our business convinced me that he is the right fit for EGYM. The EGYM team has earned the trust of what I consider to be the best possible investor partners for our mission to get to where we are today, and we are much more capitalized than we were planning. However, this trust now comes with even greater responsibility. Our mission to build the leading global platform at the intersection of fitness and health is not just a business goal but a commitment to driving sustainability into the world's largest market—healthcare. We are 120% dedicated to making it happen and are grateful to our existing investors for their continued support. 👋🏻 Welcome aboard, Marc and Paul. 🚀 Let's go, EGYM team!

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I first learned of TeamApt (now Moniepoint) through my brother, Olumide Soyombo In 2021, Verod engaged with Tosin Eniolorunda, he presented an ambitious vision that, candidly, seemed beyond typical PE growth trajectories. Fast forward to today: Moniepoint Group has processed over $182B in payments, demonstrating exceptional resilience through Nigeria's complex operating environment. What sets Moniepoint apart is their profound understanding of mass-market financial services, combining sophisticated technology with practical distribution networks. Their hybrid online-offline approach has proven crucial in a market where conventional digital-only channels fall short. Under Tosin Eniolorunda and Felix Ike's leadership, they've built an intricate network serving over 2 million merchants through 11,000 distribution associates. Congratulations to the Verod team Adewale Odusanya, CFA Dipo Okuribido, Gbenga Abogan, Oluebube Ezeoke, ACA, Gideon Adunola, for closing this transformative partnership. Welcome to the Verod ecosystem, Moniepoint Group. Here's to building Africa's financial future together. #FinTech #Impact #AfricanInnovation #PrivateEquity #Ecosystem #Verod

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If LPs want co-invest rights, we got them. When we started iSelect Fund in 2014, we saw a future in which LPs would need to access many more co-invest rights to get proper portfolio returns. So, we built a platform that generates co-invest optionality. But here is the catch in optionality, you have to buy the opening contract. If you are an LP looking for zero-fee co-invest rights, you need to ante into a sector pool in the early stage to generate the companies with the rights. You can't find the top high school basketball players if they were never born. Nor will you find the best players searching with some AI portal. I am unsure if more than 2 or 3 venture firms are alive today with iSelect Fund experience, and network, in the thesis "Food is Health". That is why, on behalf of our portfolio of 70 companies, I was in the Senate last week testifying on Food is Health. This thesis targets the $1.9T annual healthcare cost of poor nutrition ($14T globally). It is a large and growing market, which also means 283 people die every day in the US from #T2D). To be good at this sector means you needed to start in 2014. It means you need to have looked at 5,000 startups. The returns have been wobbly, as they always are in a new category. But as with all phases of Creative Destruction, an "Unlock" appears, in this case GLP-1. What has been happening slowly, now happens all at once. Throw in repricing from interest rates, and you may find now is the time to fund mid stage companies, as other VCs tap out. iSelect Fund has access to many of the relevant deals with large co-invest rights. We are glad to make them available at no Fee to Qualified Institutional Buyers, but those LPs will also have to step in to fund early stage to buy the option contract. Frankly a win for everyone in the end. https://lnkd.in/gDbfaZNe

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The 53rd edition of the Alt Goes Mainstream AGM Weekly newsletter is out! The question of wealth working with private markets has moved from why to how. What is an increasingly large puzzle piece of the how? Evergreen funds. KKR released a report this week comparing returns between evergreen vehicles and drawdown funds. The data was eye-opening. Returns on evergreen private equity structures on both a net IRR and net MOIC basis have the potential to be significantly higher than in a drawdown structure. KKR finds that an investor can possibly achieve higher compounded returns (MOIC). To achieve a net MOIC of 3x over a 10-year period, a typical drawdown fund would need to generate an 18.4% net IRR. An evergreen fund’s net IRR required for a 3x net return? 11.6%. But what are the questions? Read on for more 👇 The AGM Weekly, brought to you by 3i Members covers: 🗂️ AGM Index, an index that tracks the leading publicly traded alternative asset managers. 🗞️ AGM News of the Week, this week covering: 📌 Build, buy, or partner? The Wall Street Journal's Hannah Miao reports that Charles Schwab plans to launch their alternatives offering for qualified purchasers later this year. Bloomberg's Hannah Levitt & Paula Seligson cover J.P. Morgan Asset Management's exploration into buying a private credit firm, Monroe Capital LLC. The Wall Street Journal's Justin Baer discusses Capital Group's decision to partner with KKR on hybrid funds for the wealth channel. 📌 iCapital launching their first fund on their Distributed Ledger Technology, working with UBS Global Wealth Management & Gen II Fund Services, with quotes from iCapital's Lawrence Calcano, Jason Broder & UBS's Jerry Pascucci. 📌 UBS's Global Family Office Report 2024 from UBS Global Wealth Management's George Athanasopoulos & Benjamin Cavalli, with data and trends from 320 single family offices that average $2.6B net worth and over $600B of collective AUM. 💻 Who is hiring: Senior-level positions from companies Apollo Global Management, Inc., iCapital, Blue Owl Capital, AltExchange, Brown Advisory, LemonEdge, Canoe Intelligence, Allocate, PitchBook. Subscribe 👇 to see the latest trends & navigate this rapidly changing landscape as alts go mainstream. https://lnkd.in/ejdVjT9N

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To achieve outsized returns in a maturing and increasingly crowded private markets space, investors should start leveraging all dimensions of diversification when building their portfolios! That comes with building the right teams to unlock differentiated sources of dealflow 🔔

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Crafting #valuation frameworks and narratives for novel technology assets is an under appreciated skill set for #founders and #venturecapital investors to develop. Those with this superpower to communicate valuation with clarity, seeing transformative success not just in fundraising but in follow through execution. Whether you believe in crypto or not, whether you are building in web3, there are illuminating case studies in crypto to draw upon and apply to your work. VanEck applies various valuation methodologies to size up the use cases, market trajectories and economic values to forecast a valuation for the Ethereum blockchain, or the open source App Store network with native payments capabilities. With the improving regulatory clarity in the US for Ethereum, institutional investors are beginning to consider digital assets as part of their disciplined portfolio allocations.

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Venture investors review a substantial number of startups. Occasionally, we discover solutions that, when combined, can create something more adaptable to market conditions than each one individually. In the startup world, this is particularly crucial because merging resources, ideas, and technologies enables startups to leverage synergy—where two or more elements work more effectively together than individually. For example, Instagram, now one of the leading social media platforms, initially started as a location-based check-in app called Burbn, created by Kevin Systrom and Mike Krieger. At the same time, Systrom had been working on a project for sharing photos. By combining the social check-in functionality of Burbn with the photo-sharing capability, they created Instagram, a product that has transformed the way people share and interact with photos and videos globally. #VentureCapital, #Startups, #Innovation, #Synergy, #Teamwork, #Entrepreneurship, #BusinessGrowth, #InvestmentStrategy, #TechInnovation

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Let’s ExiT in STYLE!! I collapse time by providing Founders and CEOs the capital needed for start-up, scale-up, and Exit Strategies. We engineer a growth strategy designed to create generational wealth through significant exits to high paying strategic buyers and investors. About my firm Meritage Partners Our access to capital accelerates growth and boosts enterprise value, attracting larger investors and buyers to acquire your business at elevated valuations. Over $2.0 trillion of committed capital is currently seeking opportunities. DM me to learn more about developing a growth and exit strategy plan to harvest the wealth trapped inside your business! Tune in to the Private Capital Mastery Podcast & Community and be inspired by industry experts and learn on how to raise capital, scale your business and prepare for a massive Exit! #exitready #bfranc #startup #scaleup #exit #Mergersandacquisitions #founders #ceos 🎥 (credit): jav_lm

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The collapse of Mara, a crypto startup backed by Coinbase highlights several critical issues that have far-reaching implications for entrepreneurs and venture capital (VC) investments in Africa. + Mismanagement of Funds Mara’s downfall was primarily due to the mismanagement of funds, as evidenced by the substantial salaries of the C-suite executives, ranging from $170,000 to $600,000 annually. In the context of an emerging market like Africa, where startups often operate on lean budgets, such high salaries for executives are unsustainable and suggest a misalignment of priorities. Startups, especially those in their early stages, need to allocate funds judiciously, focusing on growth, product development, and market expansion rather than excessively compensating their executives. + Leadership Instability The leadership team's disintegration further exacerbated Mara’s challenges. Effective leadership is crucial for the success of any startup, particularly in the volatile and rapidly evolving crypto sector. + Impact on Entrepreneurs For African entrepreneurs, Mara’s failure serves as a cautionary tale. It underscores the importance of prudent financial management, transparent governance, and responsible leadership. Entrepreneurs must recognize that building a sustainable business requires more than just securing funding; it necessitates a clear vision, disciplined execution, and ethical management practices. Mara's downfall may lead to increased scrutiny from investors, making it more challenging for new startups to secure funding. Entrepreneurs will need to demonstrate not only innovative ideas but also robust business plans and sound financial practices to gain investor trust. + Effect on VC Investments From the perspective of venture capitalists, Mara’s collapse could lead to more cautious investment strategies in Africa. VCs may become more stringent in their due diligence processes, focusing on the financial management capabilities and governance structures of potential investments. This increased scrutiny could slow down the pace of investments but ultimately lead to a more robust and resilient startup ecosystem. There is a potential silver lining here. Mara's failure might prompt VCs to provide more than just financial support; they could offer strategic guidance, mentorship, and governance oversight to ensure their portfolio companies are on a path to sustainable growth. This could foster a more supportive and collaborative investment environment, benefiting the broader African startup ecosystem. + Rebranding to Jara The decision to rebrand to Jara is an attempt to distance itself from its troubled past and start afresh. While rebranding can be a good strategy to signify a new direction, it must be accompanied by substantive changes in management practices, corporate governance, and financial oversight. https://lnkd.in/e9DJ6BqP

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Unlocking growth: The rise of hedge funds in SA’s investment landscape! Hedge funds offer investors enhanced diversification, risk management, and the potential for consistent returns in an evolving market. In recent years, hedge funds have emerged as a prominent asset class within South Africa’s financial landscape. Traditionally dominated by equities, bonds, and property, South Africa’s investment environment is now embracing hedge funds’ unique characteristics and potential benefits. This article explores the rise of hedge funds in South Africa, their advantages, and the implications for investors looking to diversify their portfolios. Like other collective investment schemes (CIS), hedge funds pool investors’ money and appoint a professional manager with the necessary qualifications to invest in shares, bonds, and other securities in line with the fund’s investment mandate, much like other multi-asset CIS funds. Unlike traditional unit trusts, hedge fund managers have additional tools to enhance returns and manage risk, allowing the asset class to generate returns in both a rising and falling market. These additional tools allow hedge fund managers to respond dynamically to market conditions, making the asset class an attractive option for investors seeking capital protection, consistent returns, and greater diversification. Loyiso Mpeta izinto zakho lezi. #hedgefunds https://lnkd.in/dCi4TUpk

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📈 This is the last call to register for Venture Flows tomorrow. Get the views on the current state of venture capital from all sides of the table. #venturecapital #vc #founder #limitedpartner

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Fundraising is hard. This week's Alt Goes Mainstream AGM Weekly takes a look at how the playing field has changed and how alternative asset managers can make tactical maneuvers to win the new fundraising game on the field. Apollo Global Management, Inc.'s Mid-Year Outlook for Private Equity highlights just how difficult it's been. In 2021, almost 20% of private equity funds closed after less than six months in market fundraising. In Q1 2024? Only around 10% of funds successfully raised in less than 12 months. How can fund managers navigate the new normal in fundraising? 1️⃣ Drop it in the bucket 2️⃣ Play the long game 3️⃣ Find the platform 4️⃣ Scale matters 5️⃣ Fee-ling a change 6️⃣ Liquid courage 7️⃣ Create your own distribution luck 8️⃣ The cutting edge Read on to learn how to operationalize these tactics for fundraising👇 🗂️ AGM Index, an index that tracks the leading publicly traded alternative asset managers. 🗞️ AGM News of the Week, this week covering: Quick takes from Bloomberg Invest: 📌 Nuveen, a TIAA company CIO Saira Malik's comments on the 60/40 portfolio changing to include 20% alternatives. 📌 Eldridge Industries CEO & Chairman Todd Boehly on why he's bullish on private credit. 📌 Apollo Global Management, Inc. Partner & Deputy CIO John Zito on the increasing activity of Significant Risk Transfer deals in private credit. 📌 Qatar Investment Authority's Mohammad Al Sowaidi, CFA on why they are tactically increasing exposure to private credit and Blackstone Credit & Insurance CIO Michael Zawadzki and Marathon Asset Management CEO & Chairman Bruce Richards on their predictions for private credit's market size. 💻 Who is hiring: Senior-level positions from companies Blackstone, Apollo Global Management, Inc., iCapital, 73 Strings, Ultimus Fund Solutions, Blue Owl Capital, Hamilton Lane, LemonEdge. Subscribe 👇 to see the latest trends & navigate this rapidly changing landscape as alts go mainstream. https://lnkd.in/e7khF5tx

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🤝 It’s not easy to validate your fund Thesis, quantify your track record, and secure a PACT from an LP. Our Pre-Curriculum can help… #venturecapital #vc #fund #limitedpartner #lp

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Insightful perspective from VC Paul Graham regarding why the transition from founders to professional managers often goes poorly. While this is directed at high-growth VC-backed companies, this phenomenon occurs frequently in the middle-market. More often than not when an entrepreneur hires a third-party CEO to professionalize the business (or to start reducing hours), they end up firing them. "There are things founders can do that managers can't, and not doing them feels wrong to founders, because it is." Unfortunately, there are no easy answers here. #succession #foundermode https://lnkd.in/eKa8VTbs

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Female Founders are an important part of the start up ecosystem but only receive limited funding; even in areas like FemTech, where the market value of the global FemTech industry is projected to exceed $103 billion by 2030. In 2023, only 1.4% of total capital investment went to FemTech. In fact, until 2023, FemTech startups founded by all men raised more money per year than FemTech startups founded by all women (though they perform better over time). These are data points that need to get more attention - thanks to Kimberly Klayman from Ballard Spahr LLP to writing an article highlighting this! To learn more, read her article; What female founders need to know about investment and fundraising trends; https://lnkd.in/eZ5KyEUG

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🚀 Stop Selling, Start Sharing: The Key to Fundraising Success🚀 - Success in fundraising comes when you stop selling and start sharing—sharing your purpose, your vision, and your unwavering belief. 💡 - Startup founders, the real power in your pitch lies in authenticity. - Investors aren’t just buying into your product, - They’re buying into your passion, your purpose, and your belief in the future you’re building. 🌟 Do focus on: 🔹Purpose—What drives your startup? 🔹Vision—Where do you want to take it? 🔹Belief—How strong is your conviction? - When you share your story with genuine passion, the right investors will not just listen—they’ll align with your mission. ----------------------------------------------------------------------------------- If this post resonates with you, Share ♻ & follow Shilpi Kumari for insights on investment, founder grooming and startup updates. 👉🏻 P.S. Let others know your thoughts in the comment section!!! #startupsuccess #fundraising #entrepreneurship #leadership #investors #startupjourney #startups #india #growth

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