Altvest Capital reports profit decline but plans for growth in alternative investments
Altvest Capital will launch a range of funds to supplement its existing funds, catering for alternative investment markets, this year. The company offers retail and institutional investors structured and regulated exposure to private market opportunities such as SME funding, venture capital, and other high-growth strategies.
Image: Independent Newspapers
JSE AltX-listed Altvest Capital said attributable profit fell to R47.94 million from R60.66m in the year to February 28, but the company is gearing up for a bigger implementation of its business and investment models in its new financial year.
Headline earnings fell to 4.70 cents per share from 6.21 cents per share. Revenue increased to R7.58m from R973,261. No dividend was declared or paid, directors of the black-owned and managed financial services company said in a statement on Monday.
Altvest Capital is a South African investment platform that focuses on expanding access to alternative investments. The company offers retail and institutional investors structured and regulated exposure to private market opportunities such as SME funding, venture capital, and other high-growth strategies.
Altvest said it is developing a range of new investment structures that aim to meet the changing needs of investors and entrepreneurs. These include solutions designed to unlock value from previously under-utilised sectors and expand the scope of listed alternatives in South Africa.
Chairperson Stafford Masie said in the inaugural integrated annual report that the year ahead marks a clear shift from vision to delivery.
'With multiple funds launched or in development - from SME credit funds to high-impact seed capital, and from township economy initiatives to entertainment and sports finance - the business has laid the groundwork for a diverse, resilient alternative investment ecosystem,' he said.
Masie said Altvest's strategic decision to incorporate Bitcoin as a Treasury reserve asset reflected agility and foresight in the face of currency volatility and inflation risk.
He said the board recognises that listed small caps in South Africa face ongoing market pressure. The path to unlocking shareholder value requires investor education, persistent engagement, and consistent performance, and the board was committed to supporting management in this regard, he said.
'Altvest is becoming what we envisioned: a platform that funds the next generation of South African businesses while opening wealth-building opportunities to everyday investors. Our task now is to mature the scaffolding around that mission (through governance, board capacity, and institutional partnerships) to ensure we not only move fast but also move responsibly and sustainably,' he said.
CEO Warren Wheatley said that since their inception in 2022, they had been at the forefront of providing structured funding solutions to entrepreneurs, while offering innovative investment opportunities in high-growth SMEs, venture capital, and alternative assets.
He said the Altvest SA Rugby initiative represented a particularly groundbreaking opportunity for investors to gain exposure to one of South Africa's most iconic sporting institutions.
'By partnering with 27four, EasyEquities, RainFin, and other strategic collaborators, Altvest is leveraging capital markets to secure long-term sustainability and international competitiveness for SA Rugby,' he said.
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