Five players back Cape Town Stock Exchange (CTSE)

A consortium of five investors has signed a deal to back an early-stage investment into Cape Town Stock Exchange (CTSE), a South Africa-based financial services technology company.

Imvelo Ventures and Empowerment Capital Investment Partners have co-led an approximately $5 million (R85 million) funding round into CTSE, investing alongside three investors.

The duo is joined on the deal by Lebashe Investment Group, Pallidus Alternative Investments and Shaolin Investments – all investing as existing players.

Gary Stroebel, chief executive officer at Future Media, a Namibia based media company is backing the deal as an individual investor.

Imvelo Ventures is a venture capital arm of Capitec Bank, a South Africa-based financial services company. The venture capital firm was created in 2020 to back early stage deals across South Africa.

Mark Fitzjohn [pictured] is director at Imvelo.

Shirley Zinn is director at Empowerment Capital.

Warren Wheatley is chief investment officer at Lebashe.

JD Symington is executive director at Pallidus.

Headquartered in Cape Town, CTSE offer a stock exchange platform for small- and medium-sized companies across Africa.

CTSE enables clients to raise debt or equity capital from the public markets.

Created in 2016, the company is headed by Eugene Booysen and employs approximately 50 people as 2022.

The company was set up as 4AX, and was renamed as CTSE in 2021.

A consortium of five investors has signed a deal to back an early-stage investment into Cape Town Stock Exchange (CTSE), a South Africa-based financial services technology company.

Imvelo Ventures and Empowerment Capital Investment Partners have co-led an approximately $5 million (R85 million) funding round into CTSE, investing alongside three investors.

The duo is joined on the deal by Lebashe Investment Group, Pallidus Alternative Investments and Shaolin Investments – all investing as existing players.

Gary Stroebel, chief executive officer at Future Media, a Namibia based media company is backing the deal as an individual investor.

Imvelo Ventures is a venture capital arm of Capitec Bank, a South Africa-based financial services company. The venture capital firm was created in 2020 to back early stage deals across South Africa.

Mark Fitzjohn [pictured] is director at Imvelo.

Shirley Zinn is director at Empowerment Capital.

Warren Wheatley is chief investment officer at Lebashe.

JD Symington is executive director at Pallidus.

Headquartered in Cape Town, CTSE offer a stock exchange platform for small- and medium-sized companies across Africa.

CTSE enables clients to raise debt or equity capital from the public markets.

Created in 2016, the company is headed by Eugene Booysen and employs approximately 50 people as 2022.

The company was set up as 4AX, and was renamed as CTSE in 2021.

Deal Card 
Company Name Cape Town Stock Exchange (CTSE)
SectorBusiness services
Sub SectorFinancial services
Revenue Bespoke request
Country (Headquarters)South Africa
City (Headquarters)Cape Town
Employeesc50
Founder(s)Bespoke request
CEO/MDEugene Booysen, CEO (CTSE)
Investors in DealImvelo Ventures, Empowerment Capital Investment Partners, Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments
Investor Amounts Imvelo Ventures (n/d), Empowerment Capital Investment (n/d), Lebashe Investment Group (n/d), Pallidus Alternative Investments (n/d), Shaolin Investments (n/d)
Debt investors in DealBespoke request
Individual InvestorsBespoke request
Other InvestorsBespoke request
Investing Fund(s)Bespoke request
Related News Stories2010-2022
Previous InvestorsBespoke request
Deal ClassSmall-Cap
Deal Size$5m
Deal Stage Early stage
Deal Structure Bespoke request
Year Founded2016
Current Product Lines Stock exchange platform for small- and medium-sized companies
Customer ProfileCorporate
Client NamesBespoke request
People in DealMark Fitzjohn, Director (Imvelo), Shirley Zinn, Director (Empowerment Capital), Warren Wheatley, Chief Investment Officer, (Lebashe), JD Symington, Executive Director (Pallidus)
Other people in deal Eugene Booysen, CEO (CTSE)
Reasons for InvestmentBespoke request
Expansion PlansBespoke request
AdvisorsBespoke request
Bonds IssuedBespoke request
NotesBespoke request

Source: Deal Book Africa