What We Do

The ethos of private equity

Our private equity funds specialise in an active investment strategy that focuses on the provision of growth and replacement capital, preferably in control positions. To date, Ethos has made 108 investments and exited 96.

Ethos is currently capital raising for an innovative artificial intelligence offering, Ethos Ai Fund IEthos Fund VII is currently investing.

Ethos Mid Market Fund I closed at over R2.5bn.  The Fund is already over 50% invested and continues to attract significant deal interest.

Ethos Fund VI (one of the largest pools of third-party capital in Africa with c.R8.4bn (US$800 million) in commitments) is fully invested. 

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Private Equity: What we do

Large Equity 

Ethos currently manages two large equity funds: Ethos Fund VII and Ethos Fund VI.  Ethos Fund V is fully invested and almost fully realised. 

Click here to read more about Fund VII’s first close and first investment.

Ethos Africa

Click here to read more about Ethos Africa.


Mid Market 

In 2016, Ethos launched our inaugural mid-market private equity fund, Ethos Mid Market Fund I. This represents a return to deal sizes very similar to our successful Funds III and IV. However, Ethos Mid Market Fund I encapsulates exceptional empowerment credentials unique to this Fund.  Fundraising for this Fund successfully closed in 2018 with commitments of over R2.5bn. 

Click here to read more about the Fund’s most recent investment into Synerlytic.


In partnership with industry experts, Roger Grobler & Nic Kohler, Ethos has established an innovative AI Fund, targetting businesses that will benefit materially from AI algorithmic decision making. 

Click here to read about the Fund’s first close or here to hear Roger talking about its most recent investment into TymeBank.