1. The investment principals have ‘own skin in the game’ – they have own money invested.
  2. At any given time the investor is diversified over at least 10 Qualifying Companies (QC’s).
  3. NCL has a sought after, and difficult to attain, Category II FSP license with full discretionary ability.
  4. NCL products use tax friendly structures.
  5. No other private equity (PE) fund has such transparency of where investor money goes (e.g. IM detail).
  6. All QC investments are structured with high liquidity to investors in mind.
  7. The pedigree of investment committee (IC) members and investment principals are stacked with significant PE experience – acquisitions, growth of and exists from assets.
  8. Of the >R1billion Assets Under Management (AUM) almost R100mn AUM is from other funds who have invested into NCL QCs.
  9. No investments are done into “start-ups” – only going concerns, which have at least 2-3 years trading history.
  10. NCL is the first PE fund and asset provider for a Living Annuity product on the platforms of Momentum and 27Four.
  11. Since inception NCL has never under-paid or missed an investor dividend – not even through Covid-19.
  12. NCL has in reserve at least 3 month’s of investor dividends or profit distributions.
  13. Due Diligence (DD) of investee companies (QCs) take on average at least 6 months to get to a deal.
  14. “Seth Godin once said, a purple cow is the ability of marketing a product as intrinsically different. nReach’s purple cow is: who they are and what they do is real.” – David Hannaway. Capital Legacy
  15. Which other PE fund sends statements to their clients every quarter?
  1. If you are looking for a guarantee, then this product is perhaps not for you, with its high cash yields and high liquidity.
  2. By the way, what is ‘guaranteed’…?


  • NCL has never missed or underpaid a dividend or investor profit share – even through Covid-19
  • NCL has reserves to pay dividends and profit share to investors for at least 3 quarters.
  • So, their diversification strategy (over more than 20 QCs) to date has worked and there is no indication that it will not work into the future.
  • Note that all QCs are un-correlated sectors and performance is uncorrelated to the sentiment on the JSE.
  • Many QCs are in non-discretionary consumer spend sectors, which are strong hedges against economic turbulence.
  • All investment principals are involved personally in every QC.
  • Each NCL principal has “own-skin-in-the-game” in the funds.
  • If NCL principals do not achieve the yield hurdle rate, then they can not take performance fees. And if this happens, they worked for free for the investor. This is obviously not a situation they want for themselves.
  • NCL has accession of the shares of the entrepreneur(s) in those QCs, which they can use to sell the QC and recoup capital plus committed yields to the investors.

4. So, if NCL is not able to pay the investor dividends then the economic situation in SA is probably of such a nature that no company can pay dividends….

  • Car rentals for retail clients
  • Backgrounding of cattle on free-range principles and sheet feedlots
  • General waste recycling
  • Personal storage
  • Fintech
  • Hospitality tech
  • Blockchain platform DApps similar than “NFT” and “Defi”
  • Utility metering and sales
  • Software as a service (S.A.AS)
  • Solar
  • Short term truck rentals for SME businesses
  • Purchase order finance
  • General move-able asset finance
  • Day-hospitals
  • Vat recovery specialists
  • Fibre hardware sales + fibre installations
  • Other telecom products and services
  • Investment management
  • Childcare
  • Education tech
  • Micro-finance
  • Short-term and life insurance brokerages
  • Sit-down & take-away food franchises
  • Specialized engineering
  • Water bottling & distribution
  • Corporate ICT asset rental (laptops + phones + tablets)
  • Regarding the possibility of a default of our investment portfolios, you need to know that our risk management strategies are meticulously crafted to minimize and mitigate against such events. We understand the significance of your financial goals and the trust you have placed in us as a private capital company.
  • We have substantial own capital invested in our investment pipeline and therefore we are investors as well – “own skin in the game.”
  • We hold “Fidelity Insurance” safeguarding investor capital against theft, fraud or gross negligence by the manager.
  • NCL can be defined as a growth fund in the VCC/ “Private Equity” and “Private Debt” industry. In other words, it provides “Private Capital” to existing businesses to scale.
  • It does not invest in start-ups or ideas, but rather in track-record of companies and their entrepreneurs. We do not invest in management run businesses, but rather in founder entrepreneur driven business.
  • We invest growth capital, diluting the existing shareholders, to achieve fixed income and growth (as per the mandate with the LLP) and capital back every 5 years.  This includes the use of collateralized unsecured debt instruments as a means to enhance security and minimize potential risks.
  • Most diversified portfolio in the industry - at NCL, we take pride in our diversified portfolio across nine uncorrelated sectors. Our mandate-driven approach has been designed specifically to mitigate against concentration risk and safeguard your investments against potential defaults. This approach helped us to fully meet investor yield commitment to date – even during Covid-19.
  • This approach ensures that we manage risk effectively and maintain a resilient investment landscape.
  • Transparency is one of the cornerstones of our business philosophy. When structuring our deals, we provide comprehensive information about the investments to all our clients.

View our Information Memorandum: https://www.nreach.co.za/altrnative-investments/

You will be able to see the exact exposure you have in each sector and company we have identified for capital deployment.

We firmly believe in the principle of alignment of interests, and as such, our success as a private capital company is intricately tied to the success of our valued clients. Your satisfaction and the security of your capital remain our utmost priority.

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