Company lists · Data refreshed September 2026

Top 25 Upper middle market private equity firms based in South Africa

Name: Upper middle market private equity firms based in South Africa
Creator: RevenueBase
License: https://creativecommons.org/licenses/by/4.0/

Compiled by the RevenueBase Data Team Data refreshed Sep 21, 2026 113 companies tracked

RevenueBase identified 113 upper middle market private equity firms headquartered in South Africa as of September 2026 and tracks 588 professional contacts across them, including 226 with verified work emails. Johannesburg is the largest hub.

This list covers upper middle market private equity firms headquartered in South Africa, matched on what each company actually does as described in its own words. Ranked by team size, largest first. Every row shows the company's own description, its RevenueBase Smart Search rating, and when it was last checked. Data refreshed September 21, 2026.

Published by RevenueBase, a B2B data infrastructure company. This list was built with RevenueBase Smart Search, the natural-language company search RevenueBase customers use to build their own targeted lists and unlock verified emails and direct dials at the companies on them. How these lists are built and judged.

How to read this list HQ checked on every row RevenueBase Smart Search rating on every row Refreshed Sep 21, 2026 86% judged on-target in blind review

113Companies

588Contacts tracked

226Verified emails

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The 25 largest upper middle market private equity firms based in South Africa

Ranked by team size

Top 25 of 113 upper middle market private equity firms based in South Africa, ranked by team size, largest first. Data refreshed Sep 21, 2026. RevenueBase Smart Search rates how each company's information relates to upper middle market private equity firms: strong evidence (its own description names it), partial (names part of it), indirect (matched on the rest of its profile rather than the description shown). Click a contact count to view that company's people.
#	Company	RevenueBase Smart Search	Headquarters	Employees	Contacts
1	MENAR	Partial evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	51-200	70 contacts →
	Partial evidence “HANDS-ON INVESTMENTS Menar invests in controlling and managing shareholders in private and listed companies and allocates capital to selected projects and companies actively…” Source: RevenueBase Database · checked Sep 21, 2026
2	Transaction Capital Limited	Indirect evidence	Rosebank, South AfricaHQ checked Sep 21, 2026	1,001-5,000	58 contacts →
	Indirect evidence “Transaction Capital is an active investor in and operator of credit-orientated alternative assets managed by experienced entrepreneurial management teams employing a rigorous…” Source: RevenueBase Database · checked Sep 21, 2026
3	Metier	Strong evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	11-50	30 contacts →
	Strong evidence “Metier is an independently owned private equity fund manager with an extensive track record spanning nine investment pools and delivering returns in excess of 30%/ Metier is an…” Source: RevenueBase Database · checked Sep 21, 2026
4	Medu Capital	Strong evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	1-10	28 contacts →
	Strong evidence “Established in 2003, Medu Capital is a professional investment management company with a focus on private equity.” Source: RevenueBase Database · checked Sep 21, 2026
5	Numeral Group	Indirect evidence	City Of Tshwane, South AfricaHQ checked Sep 21, 2026	51-200	27 contacts →
	Indirect evidence “Numeral XII is a growth oriented, forward-thinking, diversified investment holding group.” Source: RevenueBase Database · checked Sep 21, 2026
6	Value Capital Partners	Indirect evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	11-50	23 contacts →
	Indirect evidence “Value Capital Partners (VCP) is an investment company which takes minority positions in listed companies and becomes an engaged shareholder in those entities to drive maximum…” Source: RevenueBase Database · checked Sep 21, 2026
7	Knife Capital	Partial evidence	Cape Town, South AfricaHQ checked Sep 21, 2026	1-10	18 contacts →
	Partial evidence “Knife Capital is an independent growth equity investment firm focusing on innovation-driven ventures with proven traction.” Source: RevenueBase Database · checked Sep 21, 2026
8	FIO Capital	Partial evidence	Pretoria, South AfricaHQ checked Sep 21, 2026	51-200	12 contacts →
	Partial evidence “Fio Capital is a global investment firm, investing capital and strategic resources in entrepreneurial markets – the only sustainable solution to growing global economies.” Source: RevenueBase Database · checked Sep 21, 2026
9	Apex Partners	Indirect evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	1,001-5,000	12 contacts →
	Indirect evidence “Apex Partners Holdings (“APH”) is a permanent capital investment holding company focused on businesses that support the mining, power, and industrial infrastructure sectors.” Source: RevenueBase Database · checked Sep 21, 2026
10	Ifsa Asset Managers	Strong evidence	Kempton Park, South AfricaHQ checked Sep 21, 2026	51-200	10 contacts →
	Strong evidence “Welcome to IFSA Private Equity – pioneers of prosperity.” Source: RevenueBase Database · checked Sep 21, 2026
11	Talent10 Holdings	Indirect evidence	Midrand, South AfricaHQ checked Sep 21, 2026	11-50	9 contacts →
	Indirect evidence “From coal mining to the silver screen and all things in between, Talent 10 Holdings does venture capital like no one else.” Source: RevenueBase Database · checked Sep 21, 2026
12	Vuna Partners	Strong evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	1-10	8 contacts →
	Strong evidence “Vuna Partners is a South African private equity investor focused on medium sized businesses across a range of sectors.” Source: RevenueBase Database · checked Sep 21, 2026
13	NEW GX Capital	Indirect evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	201-500	8 contacts →
	Indirect evidence “Established in 2005, New GX Capital Holdings Proprietary Limited or “New GX”, is a black owned and controlled investment company formed on strong entrepreneurial principles…” Source: RevenueBase Database · checked Sep 21, 2026
14	Hlayisani Capital	Strong evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	1-10	8 contacts →
	Strong evidence “Investment Management, Venture Capital & Private Equity” Source: RevenueBase Database · checked Sep 21, 2026
15	Multiply Group	Partial evidence	Durban, South AfricaHQ checked Sep 21, 2026	11-50	6 contacts →
	Partial evidence “The Multiply Group is a private investment company that provides longer term strategic capital to business owners through a partnership focused approach.” Source: RevenueBase Database · checked Sep 21, 2026
16	Cambridge Capital	Indirect evidence	Cape Town, South AfricaHQ checked Sep 21, 2026	11-50	6 contacts →
	Indirect evidence “Cambridge Capital was founded in 2007 with the vision of building a global investment company.” Source: RevenueBase Database · checked Sep 21, 2026
17	Saad Investment Holdings	Indirect evidence	Cape Town, South AfricaHQ checked Sep 21, 2026	1-10	6 contacts →
	Indirect evidence “SAAD Investment Holdings (SAAD) was established in 2006 as the investment arm of the Tree of Life group.” Source: RevenueBase Database · checked Sep 21, 2026
18	Scientia Holdings Property Fund	Strong evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	1-10	6 contacts →
	Strong evidence “Scientia Holdings Property Fund (Pty) Ltd is a proudly South African private equity fund manager established in 2019, with operations officially commencing in 2020.” Source: RevenueBase Database · checked Sep 21, 2026
19	Athena Capital	Strong evidence	Newlands, South AfricaHQ checked Sep 21, 2026	11-50	5 contacts →
	Strong evidence “Athena Capital is an established private equity company that has the experience to deliver positive returns for innovation-led businesses.” Source: RevenueBase Database · checked Sep 21, 2026
20	Summerplace Equity Partners	Partial evidence	Sandton, South AfricaHQ checked Sep 21, 2026	1-10	5 contacts →
	Partial evidence “SummerPlace Equity Partners is a black female owned fund manager based in Johannesburg, South Africa.” Source: RevenueBase Database · checked Sep 21, 2026
21	Lone Bull Group	Strong evidence	Cape Town, South AfricaHQ checked Sep 21, 2026	1-10	5 contacts →
	Strong evidence “The Lone Bull Group is a South African private equity and venture capital funding firm.” Source: RevenueBase Database · checked Sep 21, 2026
22	Rational Expectations	Indirect evidence	Cape Town, South AfricaHQ checked Sep 21, 2026	1-10	5 contacts →
	Indirect evidence “Founded in 1997, Rational Expectations is an investment company based in the heart of Cape Town.” Source: RevenueBase Database · checked Sep 21, 2026
23	Ordian Capital	Indirect evidence	Bellville, South AfricaHQ checked Sep 21, 2026	1-10	4 contacts →
	Indirect evidence “Ordian is an investment and advisory business focused on thoughtful capital allocation, long-term value creation and disciplined analytical thinking.” Source: RevenueBase Database · checked Sep 21, 2026
24	basecapital.io	Partial evidence	Cape Town, South AfricaHQ checked Sep 21, 2026	1-10	4 contacts →
	Partial evidence “We invest globally across all stages, from seed to listed shares, with a focus on marketplace and software businesses.” Source: RevenueBase Database · checked Sep 21, 2026
25	Kalon Venture Partners	Indirect evidence	Johannesburg, South AfricaHQ checked Sep 21, 2026	1-10	4 contacts →
	Indirect evidence “Kalon Venture Partners invests in and builds a portfolio of high growth technology companies, with innovative business models, geared to existing and emerging institutions and…” Source: RevenueBase Database · checked Sep 21, 2026

RevenueBase Smart Search

RevenueBase Smart Search assesses information from a company’s LinkedIn profile, information supplied directly by the company, its website, and other publicly available sources. It uses that information to rate how closely the company relates to this list’s category: upper middle market private equity firms. Every row carries its rating and the description the rating was read from, so each one can be checked rather than taken on trust.

Strong evidence: The company's own public description of its business names upper middle market private equity firms.
Partial evidence: Its own public description names part of upper middle market private equity firms, so it works in or next to the category without describing itself that way.
Indirect evidence: The description shown does not name upper middle market private equity firms. The match rests on the rest of the company's public profile rather than the one sentence quoted here, so this is the rating to check first.

RevenueBase Smart Search is how these lists are built: RevenueBase's data engine and AI assemble the companies that match a category defined in a user's own words, so a list can be about what companies actually do rather than about whichever industry code they were filed under.

Showing 25 of 113 upper middle market private equity firms based in South Africa

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Upper middle market private equity firms based in South Africa at a glance

As of Sep 21, 2026

38.4%Verified-email coverage

5.2Average contacts per company

1-10Median size (employees)

33.6%Largest-city concentration · Johannesburg

Sep 21, 2026Page data refreshed

Companies by employee count

1-10

11-50

51-200

201-500

1,001-5,000

Email recency for this list is measured worldwide rather than for South Africa, so it is reported there. Company counts and contact totals on this page are exact for South Africa, over 113 companies.

How this list was built

Company categories are rarely black and white. RevenueBase reads each company's own description of its business to decide whether it belongs among upper middle market private equity firms, so some rows will be adjacent to the category rather than pure plays. The description and RevenueBase Smart Search rating on every row are there so you can check each match yourself.

Source: The RevenueBase company graph: 60 million companies and 398.9 million professional contacts resolved from primary sources, queried with RevenueBase Smart Search, the natural-language company search available to every RevenueBase user.
What qualifies: Companies headquartered in South Africa whose own description of what they do matches “upper middle market private equity firms”. Matching reads each company's description, not its industry code or its name.
RevenueBase Smart Search: RevenueBase Smart Search is how this list is assembled and how each row is rated. RevenueBase's data engine and AI assess a company's LinkedIn profile, information supplied directly by the company, its website and other publicly available information, then relate it to a category defined in a user's own words. Each row is rated strong evidence (its own description names upper middle market private equity firms), partial evidence (it names part of the category) or indirect evidence (the description shown names none of it and the match rests on the rest of the company's profile). The description supporting each rating is quoted on the row.
What we exclude: Companies whose own description does not clearly place them among upper middle market private equity firms, and records with no verified work email. Companies headquartered outside South Africa are excluded even when they keep an office there.
Match quality: In blind human judging of this matching method, 86% of matched companies were on target. Expect roughly 1 in 7 rows to be adjacent to the category rather than a pure play. Every row shows the company's own description and its RevenueBase Smart Search rating so you can judge each match yourself. Read the full methodology: how the lists are built, how the judging worked, and what the figure means.
Ranking: Team size, largest first: companies are ordered by the number of professionals RevenueBase tracks at each one. Employee ranges shown are reported bands, for context.
Verification: Every listed company carries at least one verified work email, 226 across the full list. Contacts re-verify on a rolling cadence, and each contact's own verification date is shown inside RevenueBase.
Refresh: This page's figures were pulled from the company graph on September 21, 2026. Lists refresh periodically as the graph is re-checked.
Corrections: Wrong category, wrong headquarters, or a company that has closed? Use “Report an issue” on any row. Reports go to the RevenueBase Data Team and feed back into the company graph.

Upper middle market private equity firms by metro

Upper middle market private equity firms in Johannesburg38

Frequently asked

What is RevenueBase Smart Search?

RevenueBase Smart Search is how RevenueBase decides which companies belong on this list and how strongly each one fits. Its data engine and AI assess a company's LinkedIn profile, information supplied directly by the company, its website and other publicly available information, then relate it to the category the list is about. Each row is rated strong evidence when the company's own description names upper middle market private equity firms, partial evidence when it names part of the category, and indirect evidence when the description shown names none of it and the match rests on the rest of the company's profile.

How many upper middle market private equity firms are there based in South Africa?

RevenueBase identified 113 upper middle market private equity firms headquartered in South Africa as of September 2026, matched on each company's own description of what it does rather than its industry code.

What is the largest company on this list?

MENAR, headquartered in Sandton, tops this list with the largest team on record.

Which city has the most upper middle market private equity firms?

Johannesburg leads with 38 headquartered companies, followed by Cape Town (23) and Sandton (11).

How do I get contact information for these companies?

A free RevenueBase account lets you run this exact search and work the top results, verified emails and direct dials included. Upgrading unlocks all 226 verified decision-maker contacts tracked across these 113 companies.

How current is this list?

The list refreshes periodically as the company graph is re-checked. This page's figures were pulled on September 21, 2026.

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About this data

RevenueBase is a B2B data infrastructure company. Its company graph covers 60 million companies and 398.9 million professional contacts, with emails verified on a rolling cadence rather than scraped once and left to decay. These company lists are generated directly from that graph with RevenueBase Smart Search, the same natural-language company search every RevenueBase user has: describe a market in plain words, get the companies that match, and add verified emails and direct dials for the people at them. It is the same data that powers RevenueBase's B2B data products, and a free account includes 500 credits to start. How these lists are built and judged.