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Episode #40 with Brendan Mullen, who is Co-founder and Managing Director at Secha Capital, a lower-market impact private equity fund in Southern Africa employing an Operator-Investor model and investing in traditional industries making the green economy, tech-enabled, and/or post-COVID transition.Secha was founded in 2017. Its first fund invested in ten South African companies, creating 300+ jobs with an average revenue growth of 12x. Its $50M second fund scales its Operator-Investor model into Southern Africa.What We Discuss With Brendan MullenWhat differentiates Secha Capital from other private equity firms operating in Africa?You look for sectors in which South Africa can make use of local resources. Why is that?You concentrate on established Southern African companies in large, underserved, "boring" sectors rather than technology companies. What exactly do you mean by "boring" sectors?What is the significance of these boring sectors? What value do you think they add to the African economy?What are some of the challenges you've encountered in establishing funds dedicated to investing in African SMEs?And much more...Full show notes and resources can be found here: Unlocking Africa show notesDid you miss my previous episode where I discuss How Tourism in Africa Is Being Reinvented. A Bright Future for African Tourism with Yaa Ofori-Ansah? Make sure to check it out!Like this show? Please leave us a review here -- even one sentence helps!Connect with Terser on LinkedIn at TerserAdamu, and Twitter @TerserAdamuConnect with Brendan Mullen on LinkedIn at BrendanMullen, and @BrendanJMullenSupport the showDo you want to do business in Africa? Explore the vast business opportunities in African markets and increase your success with ETK Group. Connect with us at www.etkgroup.co.uk or reach out via email at info@etkgroup.co.uk
Learn about open roles at L.E.K. Consulting: L.E.K. CAREERSBrendan Mullen is the Managing Director of Secha Capital, a Private Equity fund in South Africa. The fund takes a unique hands-on approach to the businesses they invest in through an operator-investor model.The firm is actively hiring and is specifically looking to add management consultants to the team. If interested, check out Secha's website or reach out to Brendan directly via the links below. Additional LinksLearn more about Secha Capital: WEBSITEContact Brendan: EMAIL Follow Secha on Twitter and LinkedInGet ready for consulting interview Sponsor an episode or advertise: Management Consulted Media Kit
Kuhle Mnisi, Operator-Investor at Secha Capital
Monique follows up on this week's Agents of Impact call, which put a gender lens on the COVID recovery. We hear from Secha Capital’s Kuhle Mnisi and Wukina’s Maureen Sibanda who are this week’s agents of impact. --- Send in a voice message: https://anchor.fm/impact-alpha/message
Monique follows up on this week's Agents of Impact call, which put a gender lens on the COVID recovery. We hear from Secha Capital's Kuhle Mnisi and Wukina's Maureen Sibanda who are this week's agents of impact. --- Send in a voice message: https://anchor.fm/impact-alpha-briefing/message
In a week where South Africans have been told they can't smack their children and we all rejoiced in the success of the Ndlovu Youth Choir, South Africans have been debating the government's plans to introduce prescribed assets which got Andrew Cantor from Future Growth hot under the collar. There is an interview with US immigration lawyer Bernie Wolfsdorf on the door closing on US investment visas and the fickleness of markets that wiped a couple of billion off Richemont's value is investigated by David Shapiro. Brendan Mullen from Secha Capital tells us about a novel way of investment that is well suited to Sub-Saharan Africa and if you want to know how to get whizzing internet speed, Willem Roos from Rain tells you how you can access that. - Linda van Tilburg
In this interview Brendan Mullen, co-founder and Managing Director of Secha Capital, talks about the firm's differentiated approach to Private Equity, specifically suited for working with its portfolio companies, prioritizing sweat equity and a longer term partnership with companies in the 'missing middle'. Host: Hunter SimsProducer: Hunter SimsMusic: "Nowhere Land" Kevin MacLeod (incompetech.com)Licensed under Creative Commons: By Attribution 3.0 License
Joining Andile Masuku and guest co-host Rushil Vallabh of Secha Capital on this African Tech Roundup podcast is Grant Phillips. Grant is the Founder and CEO of PhilTech Consulting and has partnered with both Convergence Partners and Stockdale Street (the Oppenheimer Family’s South African private equity outfit) to "build out technology ecosystems across Africa". He was previously the CEO and Chairman of the Nairobi-based credit reference bureau and debt management outsource organisation CRB Africa as well as CEO of TransUnion’s Pan-African business. Listen in to hear Andile, Rushil and Grant unpack the provocative assertion that venture capital is a Ponzi scheme, recently made by the American-Sri Lankan Founder and CEO of Social Capital Chamath Palihapitiya. Head to [1:18:12] if you'd like to skip straight to that conversation. Chamath - a bona fide billionaire - was an early senior executive at Facebook. Following that, Chamath founded Social Capital which he claims, its first 8 years, made double what Berkshire Hathaway made in its first 8 years of business. But now, apparently, he's done with the limited partnership VC model and with running a successful hedge fund. Hence, he's decided to reorganise Social Capital into a holding company that will pick investments on the basis of both solid business fundamentals and "value to humanity"— and offer investees all the finance and growth support they need to thrive. Given media reports regarding Rocket Internet's puzzling plans to exit their investment in the struggling online shopping platform Jumia via a stock exchange listing in the US, Africa's early-stage investment ecosystem might do well to soberly reflect on Chamath's controversial aversion to the VC model largely popularised by Silicon Valley. Topics discussed in this episode: Somalia’s Premier Bank announces a USD1 million fund to invest in Somali startups [14:45] Kenya earmarks just under USD10 million for local phone manufacturing [15:55] Airtel Africa raises USD1.25 billion [18:14] Update on MTN Nigeria's regulatory woes [21:36] Rocket Internet set to list Jumia in the US [24.09] The International Finance Corporation (IFC) could invest USD3 million in Kobo360 [30:26] South Africa is getting Amazon Web Services (AWS) data centres [43:42] Naspers is agressively reorganising its portfolio [48:03] Angola Cables' South Atlantic Cable System (SACS) is live [52:06] Zambia's Central Bank warns against trading cryptocurrencies [54:05] Liquid Telecom completes acquisition of CEC Liquid Telecom (Zambia) [59:04] Nexxus Ventures backs South African equity crowdfunding startup Uprise.Africa [1:00:57] Education fintech Prodigy lands a billion dollar line of credit [1:03:32] Standard Bank South Africa set to launch a mobile virtual network operator (MVNO) [1:07:28] Malawi plans to force businesses to accept digital payments [1:09:02] Andela pays coders at least 50% less than Silicon Valley coders earn [1:09:40] Facebook continues to lose top executives + Facebook data breach [1:10:55] Apple & Amazon accused of having servers compromised by spyware-laden chips [1:12:32] Apple and Samsung fined by Italy for planned obsolescence [1:13:17] Uber keen to buy Careem [1:14:36] Airbnb wants to share equity with home sharing listees [1:15:00] Discussion: Is VC a Ponzi Scheme? [1:18:12] Resources referenced in this episode: The Africa Innovation Paradigm Whitepaper: http://bit.ly/AfricanInnovationParadigmReport Chamath Palihapitiya This Week In Startups Interview: http://bit.ly/ChamathInterview Social Capital 2018 Annual Letter: http://bit.ly/SocialCapital2018AnnualLetter
South African Rushil Vallabh and American Brenden Mullen are the co-founders and co-managing directors of a Johannesburg-based, venture capital outfit called Secha Capital. Secha’s mission is to “provide patient capital to established African SMEs” - primarily within FMCG and agri-business industries - and to support them by providing access to best-in-breed, hands-on business consulting. In this conversation with Andile Masuku, Rushil and Brendan expound on Secha’s hybrid investment thesis and explain how they are channelling all the skills and competencies they acquired at Bain (where they both formerly worked) into promising businesses.
By this time last year, Africa's tech and innovation media community had started to go into hibernation for the Festive Season. But this year’s different… Bitcoin is doing the thing, America’s Federal Communications Commission (FCC) is poised to put net neutrality out of its misery, Uber is bracing for a severe regulatory backlash after trying to conceal a 2016 data breach affecting 57 million users, and complex corruption allegations continue to dog the JSE-listed IT service management giant, EOH, as well as Naspers (who now indirectly own a piece of Spotify thanks to the streaming service’s recent mini-merger with Tencent Music). The tail-end of Q4 2018 has also featured some encouraging local tech ecosystem developments— like several promising African startups landing much needed early-stage funding and key ecosystem stakeholders (founders, investors, policy makers and innovation hub runners) participating in vigorous public debates about maximising the creation and exchange of solid business value within Africa’s emerging tech industry. Joining Andile Masuku and Musa Kalenga on this African Tech Roundup podcast (the last full show of 2017) to chat through some of the more interesting digital, tech and innovation highlights to emerge during the past couple of weeks is Bain consultant-turned-venture capitalist, Rushil Vallabh of Secha Capital. Rushil also explains how the founding team at Secha Capital arrived at their investment thesis, why he believes their “hybrid” model gives them the edge, and factors in on the pros and cons of some of the angel investment and VC approaches we’ve discussed on the show recently. We would just like to thank you - the listener - for your part in making the African Tech Roundup community rock in 2017. Our next full episode drops in mid-Jan 2018, but don’t worry, we’ve got your back this Festive Season because every week this holiday, we’ll be publishing previously unreleased Quick (Tech) Chats podcast episodes taped at Afrobytes Tech Conference 2017 and the African Angel Investor Summit 2017. So, go ahead and turn on your notification settings wherever you listen to us, or simply check back into AfricanTechRoundup.com for all the freshest content drops. Happy Holidays! Music Credits: Music by Kevin MacLeod (incompetech.com) Music licensed under Creative Commons: By Attribution 3.0