Curate, a global fund manager launched in August 2024, is expanding its offerings with three new global equity funds, designed to help South African investors diversify their portfolios internationally.
For the first time in South Africa, Curate provides exclusive access to distinguished investment managers Jennison Associates, Lyrical Asset Management, and Evenlode Investment Management, each recognised for their successful and unique approaches.
The launch embodies Curate’s mission to deliver high-caliber investment solutions through partnerships with leading equity managers worldwide.
“Our focus is on providing the best of global investing to our clients. This launch goes beyond just adding new funds to our offering. It’s about offering carefully selected, world-class investment opportunities that resonate with the evolving needs of the South African market,” says Ray Mhere, CEO of Curate.
The three new funds are:
- Curate Global Growth Equity Fund USD, managed by Jennison Associates (Boston, USA). Founded in 1969, Jennison is known for identifying top growth opportunities globally, investing in innovative, market-leading companies that show exceptional growth.
- Curate Global Value Equity Fund USD, managed by Lyrical Asset Management (New York, USA). New York-based Lyrical is a boutique firm that focuses on analyzing the cheapest 20% of global shares to uncover high-quality yet undervalued investments—its approach to finding the “Gems Amid the Junk™.”
- Curate Global Quality Equity Fund USD, managed by Evenlode Investment Management (West Oxfordshire, UK). Operating from a converted barn in the UK, Evenlode employs a detailed risk management process to protect investors, focusing on high-quality companies with durable returns.
These funds provide access to distinct investment styles – growth, value, and quality – each carefully chosen to meet different investor needs. Curate’s approach is to simplify investing by handpicking top global managers for each unit trust, ensuring a curated selection of top-tier opportunities.
“We believe the art of investing goes beyond just numbers. Our mission is to deliver relevant, transparent, and meaningful investment solutions to investors by partnering with the best fund managers globally. We’ve scoured the globe to find the best people to manage each of our unit trusts, so our investors don’t need to search through hundreds of different funds to find reliable and trustworthy managers—we’ve done that work for them,” says Mhere.
Curate takes a unique approach by entrusting its funds to specialists, rather than managing them directly.
“Unlike most asset managers, we do not manage any of the funds ourselves. We want specialists who offer something unique for each of our strategies, because we do not believe one manager can do everything equally well. We are confident that our managers can deliver what we and our investors are looking for. It also means that investors can feel secure that their money is in good hands.”
Curate’s top priority when selecting fund managers is the quality of the people behind them.
“We look for long-term partners who show professional integrity, loyalty, and alignment with our manager selection criteria and expectations. Those are the kinds of people we know we can trust to look after our clients’ money,” says Mhere.
In a significant development for South Africa’s startup technology sector, the SA SME Fund, the Department of Science and Innovation (DSI), along with the Technology Innovation Agency (TIA) and impact investor E Squared Investments, have launched a R300 million Seed Fund of Funds. This fund is aimed at providing critical early-stage capital to technology-driven startups.
The initiative targets funding for at least 50 startups, with experienced fund managers at the helm, prioritizing innovation and transformation within South Africa.
Ketso Gordhan, CEO of the SA SME Fund, underscored the importance of seed funding as a key driver of entrepreneurial success: “Seed capital is the lifeblood of innovation and entrepreneurial growth. Without it, many great ideas would never see the light of day. By injecting capital at this critical early stage, we are not just funding startups – we are cultivating the next generation of industry leaders. South Africa has no shortage of brilliant minds, and this fund will ensure that more of them have the resources they need to succeed. Our goal is to make sure these companies have a fair chance at success and scale in the local and global markets.”
This fund aims to address a long-standing gap in South Africa’s venture capital ecosystem, where later-stage investments, such as Series A and Series B, have historically received more attention and funding.
The Technology Innovation Agency (TIA) has played a crucial role in driving this initiative. Patrick Krappie, acting CEO of TIA, stated: “Governments across the globe play a crucial role in fostering innovation ecosystems, and South Africa is no different. The partnership with SA SME Fund aims to bolster funds towards start-ups and SMMEs through a fund of funds approach. We understand that early-stage ventures, especially those grounded in technology, need a supportive environment to thrive. The Seed Fund of Funds will catalyse a wave of new startups by enabling them to transition from ideas to viable enterprises. This presents an opportunity for the fund to play a catalytic role in developing the country’s seed stage funding ecosystem, building the foundations that will deepen investment into the innovation economy and placing the venture capital industry on sustainable footing for the future.”
Krappie also emphasized the importance of support from the DSI: “The support by the DSI (through its Innovation Fund) to both TIA and the SA SME Fund has been instrumental in the establishment of this fund, with the view to create a funding platform for seed stage VC funds.”
Gladwyn Leeuw, CEO of E Squared Investments, highlighted the strategic impact of the fund: “At E Squared, our mission is to empower responsible entrepreneurs driving transformative change. By making strategic capital accessible, we hope to foster innovation and ensure South Africa’s tech sector reflects its diversity. This initiative aligns with our vision to be a leading early-stage investor, contributing to entrepreneurial activity and meaningfully impacting millions of lives. Partnering with experienced fund managers and leveraging synergies with entities like the SA SME Fund, we are confident in driving the success of numerous tech start-ups, paving the way for sustainable economic growth and transformation. By focusing on both innovation and transformation, this fund is ensuring that the future of South Africa’s tech sector reflects the diversity and talent of its people.”
