Cape Town Stock Exchange closes R85m funding round

The Cape Town Stock Exchange (CTSE) said it closed an R85 ​​million funding round.

The oversubscribed round was led by a new investor in the group, Imvelo Ventures, a venture capital investment firm founded by Capitec Bank and Empowerment Capital Investment Partners, with participation from Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments Limited and Gary Stroebel, all existing investors in the CTSE.

Additionally, the company has expanded its board of directors by adding Mark Fitzjohn, Bruce Ndidi (both of Empowerment Capital) and Stephan Van Der Walt (Pallidus Alternative Investments).

“CTSE’s technology and financial innovation are changing the market experience in fundraising and financing. CTSE transforms what has always been a long and complicated process into a more transparent, safe and simple process. I am proud of what the CTSE team has achieved by innovating daily to reduce the cost, risk, time and complexity of the fundraising process,” said Eugene Booysen, CEO of CTSE.

“We are grateful for the confidence that our investors, new and existing, have in our business and in the opportunity before us. We believe this underscores the fact that our company is playing a transformative role in growing the African economy from Cape Town to Cairo.

The CTSE group consists of three main activities:

  1. The full full Cape Town Stock Exchange is the only other authorized stock and debt exchange. The technology, listing rules and issuer relationships are all handled in-house, making the listing process cheaper, faster and more transparent. The CTSE market meets the needs of small and medium-sized businesses. We help you grow your business by giving you access to capital and financing and reducing red tape and costs.
  2. CTSE Registration Services provides the full corporate share register, company secretarial, proxy solicitation and meeting management, and all related corporate share governance services for companies on the CTSE and other stock exchanges and is managed by its own technology. Having it in-house makes the entire registration process easier, reduces paperwork and lowers costs.
  3. Capital Solutions offers innovative capital raising solutions for small and medium enterprises in South Africa. We offer digital fund management services for SME funds and capital solutions advice for mid-market companies. By digitizing a significant part of the valuation process, we provide a safe, simple and cost-effective way to access capital markets. An end-to-end transaction management service for companies seeking debt and equity capital. Companies have the option of accessing a range of services to access listed and unlisted capital markets.

Mark Fitzjohn, director of Imvelo Ventures, said the company is always looking to accelerate the growth ambitions of South African entrepreneurs. “We are delighted to partner with such a strong team. They are leading experts in the next wave of exchange and investment banking technologies such as corporate finance, capital raising, funding, securities trading, custody, corporate governance and shareholder management.

“Their cloud-based technology and end-to-end exchange architecture, combined with a marketplace of supporting partners, will allow them to bring innovative, data-driven solutions to market quickly and affordably. This will allow us to push the limits of capital and raise funds using data and AI with a new age exchange infrastructure.

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