The Vumela ESD Fund Funding, skills and support for scale

Our outsourced,
end-to-end solution
for First Rand
The Vumela Fund

The Vumela Fund is a R388 million Social Venture Capital Fund that Edge Growth manages on behalf of First Rand in alliance with FNB. The fund is an outsourced, end-to-end ESD solution through which First Rand provides a portfolio of high-calibre SMEs with financial and business development support.

Initially a R161million fund, Edge Growth and FNB successfully raised an additional R227 million from the Jobs Fund and First Rand Group in 2014 to further our job creation objectives.

Since inception in 2010, the Vumela Fund:

  • experienced an average weighted CAGR revenue growth of ~40%
  • reviewed over 1 000 applications
  • made 12 investments
  • committed R125 million in capital
  • invested R96 million
  • created over 300 jobs, with a further 150 expected from the existing portfolio


I can highly recommend Edge Growth. Their knowledge and understanding of their space
far exceeds that of any competitors, the quality of their staff place them far ahead
in terms of actual delivery and execution,
their track record clearly demonstrates their activity in this space
and their success in comparison with benchmarks and their ethics, values, integrity, passion
and commitment are beyond question.
– Heather Lowe, Head of Enterprise Development, FNB Business



Coega Autospray supplies small sprayed plastic parts to OEMs in the motor industry, primarily VW and General Motors. The technical skill required in this niche is rare and Coega has consistently produced high-quality products that have won them large contracts and numerous awards, yet growth had been limited.


Edge’s due diligence resulted in Vumela making a R15 million debt-equity investment in Coega Autospray in 2011, providing growth capital. Edge Growth also helped to raise an additional R6 million of debt funding to finance Coega’s growth.


Combined with Edge’s growth strategy support, the investment helped Coega recover from an insolvent position and has created an additional 60 jobs*, grown revenue by 400%, and enabled the commission of a robotic production line and a new moulding line to support demand.

Coega Autospray

Vehicle funding provides a consistency, reliability, and flexibility to operations, creating greater potential for future revenue growth.

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Funding and growth support enables recycling company to reach its potential.

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Funding and SME support set to unlock between 60-90 jobs in mining sector.

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