Shanduka Fund Managers
AUM : $142 million
Shanduka Black Umbrellas was first conceived as the Black Umbrellas, a project spearheaded by Cape Town social entrepreneurs Charles Maisel and Mark Frankel to support SMMEs.
In 2009 the Shanduka Foundation (now Cyril Ramaphosa Foundation) partnered with Black Umbrellas to escalate the project countrywide with R5.2 million invested in the set up and operations of a Gauteng office.
Cyril Ramaphosa, Chairperson of the Cyril Ramaphosa Foundation, is deeply committed to the vision of Shanduka Black Umbrellas as a catalyst in the development of entrepreneurs, a sector he has identified as critical to the empowerment of historically marginalised South Africans.
Shareholding in the Shanduka Group is held in two trusts: The Fundani Education Trust and the Mabindu Business Development Trust, the latter of which supports Shanduka Black Umbrellas.
Area of expertise
Private equity and venture capital for South Africa based firms
Resources • food and beverages • energy • financial services • property • telecommunications •industrial