Ethos recently began capital raising for Ethos Fund VII, targeting a fund size of between US$500 million. The Fund held its first close in October 2018 and has successful completed its first investment: Channel VAS.
The objective of Ethos Fund VII will be to invest in private companies with market-leading positions, an identifiable competitive advantage, strong cash flows and significant growth potential. Ethos Fund VII will target companies with an enterprise value of between US$100-500 million and would seek to invest between US$25-60 million in each opportunity.
Continuing strategy evolution will see Ethos Fund VII focus on transactions across sub-Saharan Africa. The team is aiming to invest up to 50% of the Fund in companies based outside South Africa in the rest of the continent.