The i capital Growth Fund I, the private equity fund managed and controlled by niche investment house i capital, has acquired a 31% stake in K'e Concepts (Pty) Ltd, via a cash injection.
K'e Concepts is a Johannesburg-based developer of contract and debtor management software solutions. Miles Hern, Gary Green, Edwin Tam and Gareth Jane established the in 1998. The complementary skills of this founding team led to the development of the company`s flagship software product, CreditEase. This product has been specifically developed and designed for organisations operating within the financial services sector to automate the instalment credit process.
CreditEase is tailored to meet the needs of individual clients who currently include many of the mid-tier micro-lending organisations in southern Africa and a number of the local asset based finance companies.
K'e Concepts works closely with industry partners including Solit, a provider of e-business and enterprise solutions, in order to enhance its overall service offering to clients and provide an end-to-end software solution.
K'e Concepts will use the investment to accelerate its growth, says CEO Miles Hern.
"Our company has grown rapidly over the last four years, but we have reached the point where we need to grow to the next level. I capital`s investment and value-added involvement in our company will allow us to do this."
Immediate steps to be taken by K'e Concepts include investment in R&D to produce Web-enabled versions of its software applications, a broadening of its scope into the office automation market, and the development of international distribution channels for its products, including Africa.
Says Hern: "This investment will allow us to extend our portfolio of products and provide customers with further value-added services, to accelerate our global plans, attract and retain the right staff, and ultimately create value for all stakeholders."
I capital fund managers director Rowan Williams says his company was attracted to K'e Concepts because of its entrepreneurial nature, its focus and the depth of management.
"Miles and the team have quickly built a niche independent software player that has enormous upside potential. With this investment they can accelerate their development and over the next three years build a significant company."
Lindsay Haines, an associate director of i capital, will join the board of K'e Concepts.
I capital is a niche investment house which focuses on private equity fund management and corporate finance advisory services. Through the i capital Growth Fund I, i capital provides growth capital to companies with a high intellectual capital component. K'e Concepts is the Fund`s eighth investment.
"In looking for companies in which to invest, we target companies with experienced management teams that are established with a profitable trading record and a well defined industry focus. In addition we invest in businesses where there is the ability for i capital to add significant value," says Williams. "K'e Concepts met all these criteria."
K'e Concepts can be found at www.ke.co.za
Additional information about i capital is available at www.icapital.co.za
Share