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Private Equity Funds
Together with our founding company, Smart Opportunities (Pty) Ltd, we have used Black private equity funds as a vehicle through which Smart T (Pty) Ltd can apply institutional funds to drive the creation of active Black-owned and controlled companies. All our funds are structured to ensure that the fund meet the requirements of code 100, while remaining as attractive as possible to both investors and investee companies.
The SMART GROUP has been involved in setting up a number of these funds; namely:
Smart Capital was incorporated on 13 February 2014. Smart Capital is a Venture Capital Company licensed as a Financial Services Provider in terms of Section 8 of the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002) under licence number FSP 45232.
It was registered by SARS as a Venture Capital Company in terms of Section 12J of the Income Tax Act No. 58 of 1962 under reference number VCC-0007 on the 1 August 2014.
Smart Capital has made equity investments in a portfolio of potentially high growth small and medium sized companies. Particular focus was to invest in registered franchises within Famous Brands; namely Milky Lane, Steers and Wimpy.
The company is oversubscribed and is closed for any new investment opportunities.
As a result of the oversubscription for shares in Smart Capital, the decision was taken to open a new fund to focus on new opportunities.
Smart EES is a Venture Capital Company licensed as a Financial Services Provider in terms of Section 8 of the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002) under licence number FSP 46803.
It was registered by SARS as a Venture Capital Company in terms of Section 12J of the Income Tax Act No. 58 of 1962 under reference number VCC-0042 on the 13 October 2016.
Due to the withdrawal of Section 12J by SARS, this fund is now closed and no new investment opportunities are being considered.
Smart Equity (Pty) Ltd,
Crest Equity,
Indlovu Equity and
Indabaningi (Pty) Ltd
Due to the restrictive clauses of Section 12J of the Tax Act, numerous investment opportunities were not permitted within either Smart Capital nor Smart EES. As a result, separate Private Equity Funds were created to enable the investment into our portfolio of investment opportunities. Each of these individual Private Equity Funds are focused on specific targeted opportunities or business sectors.