Reflections from the SA SME Fund Investment Associate Retreat

The SA SME Fund Investment Associate Retreat was a truly inspiring and grounding experience for our team at Anza Capital. It served as a powerful reminder of why we do this work and of the critical role that a strong, values-driven venture capital ecosystem plays in shaping South Africa’s economic future.

At its core, the retreat was about people. It brought together a group of thoughtful, driven investment associates from across the country who are actively building the next generation of South African venture capital. The openness, intellectual curiosity, and generosity of ideas created a rare space for honest reflection, shared learning, and collective ambition.

We were particularly inspired by the work of the SA SME Fund, alongside the Department of Science and Innovation (DSI), in their continued efforts to ignite, professionalise, and sustain the local VC ecosystem. Their commitment to backing not only fund managers, but also the talent within those funds, is both deliberate and deeply impactful. It recognises that long-term ecosystem development requires patient, intentional investment in human capital.

One of the most valuable aspects of the retreat was hearing directly from fund managers who shared candid success stories, lessons learned, and the realities of building funds in a complex and often under-resourced environment. These stories reinforced the importance of resilience, disciplined investment processes, and values-based decision-making, principles that strongly resonate with how we approach our work at Anza Capital.

Equally inspiring was the calibre of young investment professionals in the room. The depth of thinking, diversity of perspectives, and sense of purpose among the associates was striking. These are the individuals who will go on to shape capital markets, back transformational founders, and influence how innovation and entrepreneurship are financed in South Africa in the years to come.

For us at Anza Capital, the retreat reaffirmed the importance of collaboration over competition, and ecosystem-building over isolated success. It reminded us that while each fund has its own mandate and strategy, we are all contributing to a shared objective: building a more inclusive, resilient, and impactful venture capital landscape in South Africa.

We left the retreat energised, challenged, and deeply grateful to the SA SME Fund for convening such a meaningful platform. It is initiatives like these that quietly but decisively strengthen the foundations of our ecosystem, and ultimately enable better outcomes for founders, investors, and communities alike. We look forward to continuing this journey alongside our peers, and to playing our part in stewarding the next generation of venture capital leadership in South Africa.