Free Reads South African VC Returns Rival Developed Markets As Exits Surge Counters Scepticism By Staff Reporter  |  September 11, 2026 One of the perennial gaping holes in African venture capital’s growth story, exits, is finally starting to close in South Africa. New data shows 226 realised exits since 2009, returning more than ZAR 2.9 B (~USD 175 M) to investors at a 2.45x multiple. That performance matches or exceeds US and European benchmarks, upending a decade of LP reluctance based on a perceived lack of exit history. For years, global backers passed on African markets, branding them too risky with no track record for getting money out. They often cite a lack of exit history and, as a result, are hesitant to commit. The data, however, tells a different story. A pair of new studies from the SA SME Fund, Endeavor South Africa and SAVCA have pulled together a comprehensive picture of South African venture capital exits. The numbers tell a story that doesn’t match the narrative that has dominated LP due diligence…