Public Investment Corporation

The Public Investment Corporation (PIC) is a government-owned investment management company in South Africa, established in 1911. It exclusively serves the public sector, managing funds for public bodies that include pension, provident, social security, and guardian funds. As one of Africa's largest and most successful investment managers, PIC operates with a diversified portfolio that encompasses various asset classes, including listed and unlisted equities, bonds, properties, and cash. The corporation's investment strategy incorporates both in-house and externally managed assets, with a focus on maximizing returns for the public sector while adhering to responsible investment principles. Through its comprehensive approach, PIC plays a crucial role in supporting the financial sustainability of public institutions in South Africa.

Vuyani Hako

Executive Head of Properties

Koketso Mabe

Fund Principal

Daniel Mmushi Matjila

Chief Executive Officer and Chief Investment Officer

Matshepo More

Acting Chief Executive of Asset Management

Mervin Muller

Executive Head of Private Equity and Structured Products

Roy Rajdhar

Acting General Manager

11 past transactions

Ukko Agro

Seed Round in 2021
Ukko Agro develops an agriculture ecosystem that helps optimize pesticide usage to minimize crop losses. It offers technology tools that facilitate on-farm decision making with minimal time investment from the growers. The company is driven to optimize pesticide use for better crop yield, by integrating technologies to track, analyze, and quantify sustainability gained. Its product features realtime on-farm monitoring, predicts disease or pest attacks, prescribe pesticide spray, integrates with external on-farm equipment and technologies, reduces crop losses, and optimizes crop inputs. Ukko Agro was founded in 2017 and is headquartered in Toronto, Ontario.

Karan Beef

Acquisition in 2018
Karan Beef (Pty) Ltd is a prominent producer and supplier of beef products based in City Deep, South Africa, where it was established in 1974. The company serves the South African meat industry by offering a diverse range of products, including boneless and bone-in beef, offals, and various cuts such as ribeye, rump, striploin, blade, brisket, and liver. Karan Beef is recognized for its commitment to high standards of productivity, hygiene, and maintenance, setting a benchmark for excellence within the local beef sector.

African Export-Import Bank

Venture Round in 2018
The African Export Import Bank (the “Bank”) was established in Abuja, Nigeria in October, 1993 by African Governments, African private and institutional investors as well as non-African financial institutions and private investors for the purpose of financing, promoting and expanding intra-African and extra-African trade. The Bank was established under the twin constitutive instruments of an Agreement signed by member States and multilateral organizations, and which confers on the Bank the status of an international multilateral organization; as well as a Charter, governing its corporate structure and operations, signed by all Shareholders. The authorized share capital of the Bank is Five Billion United States Dollars (US$5 billion).

ZAR X

Funding Round in 2018
ZAR X (Pty) Ltd operates a digital stock exchange platform that provides automated and electronic screen-based, derivatives, and Internet trading system. It develops technology to replace manual processes. ZAR X (Pty) Ltd was incorporated in 2015 and is based in Bryanston, South Africa.

Coconut Software

Series A in 2017
Coconut Software is a provider of a cloud-based appointment scheduling and visitor management platform tailored for enterprise use. The platform enables businesses to streamline customer appointments and facilitate online bookings, offering features such as text and email reminders, queue management, and performance reporting. It supports self-service booking, curbside pickup, and wait time tracking, enhancing the customer experience while alleviating pressure on staff. Additionally, Coconut Software integrates with contact centers and provides solutions for virtual meetings, making it particularly beneficial for banks and credit unions. By delivering real-time traffic insights, the platform helps organizations reduce customer wait times and improve operational efficiency.

ClearGov

Seed Round in 2017
ClearGov Inc. develops a Software-as-a-Service-based financial transparency and benchmarking platform for local governments and residents in California, Connecticut, Massachusetts, and New York. Its platform provides information on financial statements into an interactive infographic. The company’s software includes modules for financial forecasting, peer-to-peer financial benchmarking, collaborative government budgeting, public financial transparency, capital projects communications, and department-by-department public accountability. In addition, it offers data analysis tools that allow governments to compare their spending to municipalities of a similar size and demographic makeup. ClearGov Inc. was founded in 2015 and is based in Maynard, Massachusetts.
CapitalAppreciation Limited operates as a special purpose acquisition company.

SMILE Telecoms Holdings

Private Equity Round in 2015
SMILE Telecoms is a broadband provider company. Founded in 2007, Smile Telecoms says it has more than 300 million potential customers in Nigeria, Tanzania, Uganda, and the DR Congo. Internet penetration in all four of Smile’s markets is still low so increasing the availability of speedy mobile connections can help more people go online, especially when combined with increased smartphone ownership.

SMILE Telecoms Holdings

Debt Financing in 2015
SMILE Telecoms is a broadband provider company. Founded in 2007, Smile Telecoms says it has more than 300 million potential customers in Nigeria, Tanzania, Uganda, and the DR Congo. Internet penetration in all four of Smile’s markets is still low so increasing the availability of speedy mobile connections can help more people go online, especially when combined with increased smartphone ownership.

South Point

Acquisition in 2015
South Point Management Services (Pty) Ltd. provides student accommodation services in South Africa. It offers studio, bachelors, one-bedroom, two-bedroom, and penthouse apartments with various amenities, such as restaurants, bars, lounges, clubs, events, and cultural activities. South Point Management Services (Pty) Ltd. was founded in 2002 and is based in Johannesburg, South Africa.

Erin Energy

Post in 2014
Erin Energy Corporation is an independent exploration and production company that focuses on acquiring and developing energy resources in Africa. The company, originally founded as CAMAC Energy Inc. in 2005, has its headquarters in Houston, Texas. Erin Energy's asset portfolio includes five licenses that cover approximately 6,000 square kilometers across offshore Nigeria, offshore Ghana, and offshore The Gambia. In April 2015, the company rebranded from CAMAC Energy Inc. to Erin Energy Corporation. However, following financial difficulties, Erin Energy filed for Chapter 11 bankruptcy in April 2018, which was later converted to Chapter 7 on July 13, 2018. As a result, the company's operations have been significantly impacted.
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