Ethos Mid Market Fund I

Investment criteria

Ethos Mid Market I
VINTAGE YEAR:
2016
CAPITAL RAISED:
R2.5bn
FUND STATUS:
Currently investing
Ethos Mid Market I

In 2016, Ethos launched our inaugural mid-market private equity fund.

Ethos Mid Market Fund I successfully closed fundraising in 2018, with commitments of just over R2.5 billion.

The Fund seeks to make investments of between R100 million and R350 million, predominantly in mid-market leveraged buyout and growth transactions. This is a part of the market in which Ethos has a proven track record through Ethos Funds III and IV.

The Fund is majority owned by the black investment professionals managing it, conferring it a black majority-owned status. This enables the Fund to confer BEE credentials on 100% of the equity it invests in a business.  Ethos believes that the combination of significant empowerment credentials and strong execution capabilities gives the Fund a distinct competitive advantage.

The Ethos Mid Market Fund is led by Edward Pitsi – Managing Partner.  Sonja De Bruyn is the non-executive Chairman of the Fund.

Autozone
Eazi Access
Echo
Gammatek
Kevro
MTN Zakhele Futhi
Synerlytic Group (formally part of Torre Industries)
Twinsaver

The Fund’s core strategy is to make mid-market leverage buyout and growth transactions of between R75 million and R350 million, where the Fund will seek to be the lead shareholder, or significant minority shareholder in specific instances. Ethos Mid Market targets high growth potential companies that are often not optimally capitalised, leveraging Ethos’ proven value add and operational transformation skills.

The Ethos Mid Market Fund I investment committee comprises:

  • Edward Pitsi (Fund Managing Partner)
  • Titi Sekhukune (Fund Partner)
  • Sonja de Bruyn (non-executive Chair)
  • Stuart MacKenzie (Ethos CEO)
  • Peter Hayward-Butt (Ethos)