Ascension Private Equity Fund I (“APEF and/or the Fund”) is a sector agnostic fund seeking growth investments. The Fund seeks to invest in businesses that serve or enhance basic human needs and/or have a strong technology element. The Fund looks at businesses which have the following attributes and characteristics:

• provide a capital protection underpinned with significant growth potential;
• innovative business model;
• invested management with an entrepreneurial vision;
• highly cash generative and scalable with history of positive earnings (EBITDA above R20 million); and
• clear exit strategy

Investments by Ascension would typically be between R80 million and R120 million for a significant minority to majority stake.

As a sector agnostic fund APEF invests across various sectors other than primary mining, primary agriculture and properties.