Guiding investors
since 2012

Our philosophy

Creating opportunities

We exist to find and create opportunities that enhance the world we live in through entrepreneurial ideas, vision and courage, and capital growth.

We live by 4 key principles:

Opportunity is our superpower

1

Ear to the ground, observe the patterns, see the shifts. New opportunities are everywhere.

2

Go first, or go further

Have the courage to trail-blaze. The naysayers will follow, they always do.

3

Don’t ever underestimate the value of trust

Experience, compliance and governance are worth their weight in gold.

4

Be there for the long term

Invest alongside your investors. Nurture relationships. Invest in the team.

History & track record

The pioneers of alternative asset investing in South Africa

We began this journey with Section 12J, and today have expanded into various other alternative asset investments.

In 2014 we bravely chartered new territory, launching the first Section 12J fund in South Africa. Fast forward nearly a decade, and Section 12J became the fastest growing alternative asset class in South Africa. We proudly carry the flag as the pioneers of Section 12J.

By applying the knowledge and experience we’ve gained over the years, we have innovated a number of industry firsts, and are the largest Section 12J administrator in South Africa, with R3.5billion in assets under administration.

2012

Grovest Corporate Advisory established

2014

Birth of VCMS

Feb 2015

Grovest Venture Capital, first operational 12J VCC in South Africa

Grovest Energy, now Decentral Energy Capital, first 12J alternative energy VCC

Feb 2016

Grotech, now Kalon Venture Partners, first tech VCC in South Africa

Grovest Hospitality, first hospitality VCC in South Africa

Feb 2017

Mdluli Safari Lodge, first 12J rural community co-investment VCC

Mdluli Safari Lodge, first, and only, 12J VCC in Kruger National Park

Mdluli Safari Lodge, first fund to offer lifestyle benefits in addition to financial benefits
WDB Growth Fund, first woman-led 12J VCC

Sunstone Capital Limited, movable assets 12J VCC established

Rencell Limited, CAT 1 12J VCC established
Read more

Feb 2018

MeTTa Capital, first 12J portfolio of funds

MeTTa Capital Fund I established

Lionshare Private Equity fund established

Feb 2019

MeTTa Capital Fund II established

Fulo Capital private equity fund established

Feb 2020

MeTTa Capital Fund III established

Feb 2021

MeTTa Capital Fund IV established

SilverLeaf Investments, cannabis fund established

Decentral Energy Capital exited

Jun 2021

12J ends 30 June

Grovest has R3.5 billion in assets under administration

Rencell has R85 million in assets under management

MeTTa Capital Fund V established

MeTTa Capital, five successful capital raises, a total of R237million

NovaBree Investments established
Read more

Aug 2021

Genesis Capital private equity fund established

Q4 2021

Rencell Fund II established

Aug 2022

GoGetta launched
1 August 2022

FEB 2023

Twelve B Green Energy Fund launched

M&A Awards
MEA Business Awards

For entrepreneurs, by entrepreneurs

As pioneers in alternative assets, it’s our job to not only be on the pulse of investment opportunities, but to be at the forefront of new opportunities.

Our team

Invest in your people, they are everything

Our team is the engine behind our success.

Diversified skill sets and experience, and a creative financial approach, we are both ideas people and executors.

And no matter what we undertake, no-one will ever say we didn’t give it our all.

Grovest Board

Jeffrey Miller Jeffrey Miller

Jeffrey Miller

Co-Founder & Chief Executive Officer

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Jeffrey Miller

Co-Founder & Chief Executive Officer

Jeff holds directorships on the boards of various companies in which he holds private equity investments. Jeff serves a Director on the Boards of the MSL Qualifying Companies. 

Jeff is a Chartered Accountant having completed his articles at Grant Thornton and has over 30 years’ experience investing in unlisted companies across numerous industries. Jeff co-founded Brandcorp, which was listed on the Johannesburg Stock Exchange in 1997.

Jeff brings many years of operational and investment skills to the Company. He was a co-founder of Grovest and Seed Engine and several companies in the Grovest Group including MeTTa Capital Moderate Risk Funds I, II and III. Jeff is a pioneer of Section 12J Venture Capital Companies in South Africa and is an active member of various sub-committees of SAVCA and Simodisa, both of which focus their efforts on the South African Venture Capital industry. Jeff serves on the Board of the 12J Association of South Africa. Jeff is also an active member of the Young Presidents Organisation.

Malcolm Segal Malcolm Segal

Malcolm Segal

Co-Founder & Non-Executive Chairman

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Malcolm Segal

Co-Founder & Non-Executive Chairman

Malcolm holds directorships on the boards of various companies in which he holds private equity investments. He is an external member of the Special Credit Committee of the Industrial Development Corporation of South Africa Limited and of the Listings Advisory Committee of AltX (Alternate Exchange of the Johannesburg Securities Exchange).

After qualifying as a Chartered Accountant in 1972, Malcolm practiced as a partner of Grant Thornton and was elected Managing Partner of the Johannesburg office in 1986 and National Executive Chairman in 1989. Malcolm resigned from Grant Thornton in 1997 to establish MDM Growth Investments, a private equity investment fund which he managed until acquired by Sasfin Holdings Limited. In February 2012, Malcolm resigned from the boards of both Sasfin Holdings Limited and Sasfin Bank Limited to pursue his passions of entrepreneurship and entrepreneurial investment activities. Malcolm is a co-founder of Grovest and several companies in the Grovest Group including MeTTa Capital Moderate Risk Funds I, II and III.

Malcolm is active in various aspects of South African society and inter alia is a Director of both the Johannesburg Philharmonic Orchestra NPC and the KwaZulu-Natal Philharmonic Orchestra NPC.

Melanie de Nysschen Melanie de Nysschen

Melanie de Nysschen

Non-Executive Director

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Melanie de Nysschen

Non-Executive Director

Melanie is a financial services industry professional with a legal background and extensive experience in the investment banking industry, specifically corporate finance and capital markets. She is currently focused on venture capital and private equity, with a strong emphasis on the sustainable development (and ultimately growth) of emerging fund managers, and gender lens investing, ultimately in support of an economy in which more small- and medium-sized enterprises succeed."
Amaresh Chetty Amaresh Chetty

Amaresh Chetty

Non-Executive Director

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Amaresh Chetty

Non-Executive Director

EDUCATION

  • BCom (University of Natal)
  • Post Graduate Diploma Business Management (University of Natal)
  • MBA (University of Natal)
  • Valuations (Harvard Business School)
  • Corporate Restructuring Mergers and Acquisitions (Harvard Business School)
  • Negotiation Skills (UCT Graduate Business School)

CURRENT POSITIONS HELD

  • Ascendis Health Limited (JSE Main Board)
  • Turnstar Holdings Limited (Listed on the Botswana stock exchange) – Chair of the investment committee,
  • Mlimani Holding Ltd (Tanzania) Chairman
  • Pepperclub Hotel Investments Ltd – Non-executive director, Chairman of the investment committee
  • Rencell Ltd – Non-executive director
  • Sunstone Capital Ltd – Independent non-executive chairman

INDUSTRY FIRSTS

The pioneering spirit of our team has manifested in a series of industry firsts

GIVING BACK

Opportunity for all equates to a better future

We’re passionate about the transformation of Africa and committed to her growth and development. We strive for our actions to drive impact and meaningful change.

Women in our industry

We remain committed to the meaningful inclusion of women in the private equity and venture capital industries.

We’ve adopted a women-led fund, and are working hard to be part of the necessary change. Each year in August we reconvene, hosting a webinar to reflect what’s happened over the past 12 months and what still needs to be done. These webinars provide a platform to learn, ask questions and be inspired.

Afrika Tikkun

South Africa’s youth is the future of our nation. We should continually be nurturing and inspiring them. In partnership with Afrika Tikkun, our CEO Jeff Miller hosted a webinar with the purpose of providing guidance and mentorship to eager candidates within the Afrika Tikkun development programme on all things entrepreneurship. It was a fantastic couple of hours and we look forward to ongoing involvement with them.

Get in touch

Are you ready to invest in the world of alternative assets? We’ll show you how

Set up a meeting

Got something to chat to us about? Set up a time to meet with the right members of our team.

  • Grovest
  • GoGetta
  • Rencell