All the companies Michael Jordaan invested in

One of the most recognisable names in the South African business world is the former banker turned venture capitalist Michael Jordaan.

Jordaan garnered professional acclaim as FNB’s chief executive officer between 2004 to 2013, during which his exceptional management helped the bank significantly grow its profit and customer base.

Although only 36 years old at the start of his tenure, his experience from stints at Deutsche Bank, Origin Bank, and in executive roles at various FNB positions, helped Jordaan steer the bank to a more digital-focused future.

According to Daily Investor, Jordaan’s leadership saw FirstRand’s share price climb from R5.54 to R35.70 between 2004 and 2013, equivalent to 20% annualised growth.

The bank also saw its customers increase from just over 4 million in 2005 to nearly 9 million by 2013.

Another significant achievement under his leadership was FNB winning the World’s Most Innovative Bank award at the Financial Global Banking Innovation Awards in 2012.

After leaving FNB, Jordaan formed Montegray Capital in January 2014 as a vehicle to invest in innovative and disruptive startups and technologies.

Among the most recognisable companies into which Jordaan has poured his money through Montegray are network operator Rain, cryptocurrency trading platform VALR, and digital banking newcomer Bank Zero.

But that only tells a small part of the tale.

As of November 2022, Jordaan’s Montegray Capital counted 25 ventures in its fold, covering various products and services — from beverage and craft chocolate production to renewable energy and fleet management software.

Montegray’s investment approach is to look for “highly differentiated” businesses with a minimum two-year trading history, proven customer traction and potential for rapid growth.

“We believe that smart businesses, run by small, frugal teams actually need modest capital to successfully take on large companies and tackle big problems,” the firm states.

It provides incremental funding as a business grows and reaches certain milestones.

Montegray also shared a basic list of strategies it uses when investing into companies:

• Provide growth-stage funding of between R2 million and R5 million
• Take a meaningful minority share in the company
• Use simple investment structures
• Invest directly into a company
• Take a very long-term investment view
• Value execution over ideas

The table below lists the companies and entities in which Michael Jordaan’s Montegray Capital has invested and a short description of the nature of their offerings.

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