WHAT WE DO
Calibre Capital is an independent long-term investment business.
We invest our own permanent capital, enabling us to be consistent, patient and agile.
We invest in both private and public companies across an array of industries and geographies that meet our investment principles.
VISION
Growing and creating successful, sustainable businesses, fostering inspirational leaders, contributing to a better South Africa.
PASSION LED US HERE
With a passion for growing businesses within South Africa, Calibre Capital was founded in 2002 by Theunis de Bruyn, Piet Viljoen and a third partner whom later emigrated.
By 2003, only 1 year later, the founders created a fund management company: Regarding Capital Management (RECM).
In 2009, Calibre Capital and RECM formed a joint venture called RECM And Calibre Limited (RAC).
In June 2010, the non-cumulative redeemable participating preference shares of RAC were listed on the Johannesburg Stock Exchange (JSE).
In 2013, Jan van Niekerk joined the group as a partner in RECM, RAC and Calibre Capital.
In 2020, the partners took a controlling interest in Astoria, a Mauritian listed Investment Holding company.
PRINCIPLES AND PHILOSOPHY
4 C’s
CALIBRE
COMMITTED
CONSISTENT
CATALYSTS
Our philosophy is to invest in, and, commit to proven passionate management teams, to consistently help them catalyse their growth potential.
Steadfast partnerships, a patient long-term view paired with a value-creation mindset has solidified our edge and successful track record.
We invest for the long term and rarely sell investments.
We take influential positions including both minority and controlling interests.
We favour businesses with proven, passionate management teams that are prepared to co-invest – we like to invest with management we trust and that trust us.
We will consider investments in early-stage businesses where the business model has been proven.
We see our role as partners that provide owners and management of quality businesses with the capital, tools, and support to catalyse the evolution from a good business to a great business.
We do not involve ourselves in the day-to-day running of businesses, but we are there to provide insight and tools as needed.
We are ALWAYS guided by mutual trust.
Our work at Calibre Capital is grounded in the belief that people are interdependent, fundamentally good, and inherently capable.
It’s with this notion that we make deliberate efforts to nurture and enhance each of our investees and associates into a steadfast network – as people, teams, companies and confidants.
TRANSACTION TYPES
We participate in an array of transaction types, but are open to those not listed:
- Company Exits
- Company Privatisations
- Replacement of Shareholders
- Management Buy-Outs
- Management Buy-Ins
- Succession Planning
- Growth and Expansion
- Mergers and Acquisitions
- Balance Sheet Restructuring
- Off-Shore New Business Setup
- BBB-EE Restructuring
PROCESS
We are uncomplicated. However, if we appreciate your business and passion we will request a few items to conduct a review.
We only invest in things we can understand, simplicity is key.
We will require detailed input with regards to the operating environment, management team and their ambitions to formulate our view.
If we do invest, we are able to bring in-depth expertise for growth, optimisation and strategic direction to enhance value, alongside expansive networks with influence.
CRITERIA
We do not think in boxes, yet we have certain preferences.
We provide capital to companies with a proven track-record paired with promising business models and passionate management teams.
Ideally, these are profitable or near profitable businesses, i.e. revenue generating.
There are three critical criteria we consider which business must have:
- Passionate and experienced management team with a growth mindset.
- A sustainable business and revenue model.
- A vision and desire to grow and expand their footprint or offering.
*** Typically prefer post-revenue business.
The Calibre Edge
The combination of our investment philosophy, principles and process enable us to remain committed to our values of utmost trust and passion to grow businesses.
Associates
Via our network of associates, co-investing companies and strategic alliances we are able to consider a variety of investment types, as well as offer strategic niche support as required.
Investments
Our investees span across industries and maturity yet are all available if needed for collaboration and knowledge sharing.
A few examples of historic and current investments are shown below.
Team
Together, the core team of Calibre Capital share more than 80 years of accumulated proven experience in the field of investing and strategic value creation.

Theunis de Bruyn
Managing Director
Theunis is the Founder and Managing director of Calibre Capital.
A Chartered Accountant by trade, and a Harvard Business School alumni.
After serving articles at Ernst & Young, Theunis joined Ford SA as Assistant Group Treasurer. He later joined Huysamer Stals stockbroking firm (thereafter sold to ABN AMRO). Here he led the research team developing a number of South Africa’s top analysts, in addition to being ranked the number 1 insurance analyst.

Piet Viljoen
Non-Executive Director
Piet started out as a lecturer at the University of Pretoria and subsequently joined South African Reserve Bank (SARB) as an economic analyst.
He joined Allan Gray Investment Counsel in 1991 as a portfolio manager and in 1995 Piet moved on to Investec Asset Management. Piet founded RECM in 2003.
He is Executive Director of JSE listed RAC, Executive Director and Chairman of Counterpoint and a Non-Executive Director of Astoria.

Jan van Niekerk
Non-Executive Director
Jan is an actuary by trade, with over 20 years of business and investment experience.
Jan served as Chief Investment Officer of a large South African private client wealth manager and as the Chief Executive Officer of renowned Peregrine Holdings, a JSE-listed financial services firm.
Jan is currently the Chief Executive Officer of JSE listed RAC and a Non-Executive Director of Astoria.

Benji Coetzee
Venture Partner
Versatile Career: Entrepreneur, investor, author and global professional with a diverse industrial background.
Top tier companies: Worked at Hollard, HSBC, the Boston Consulting Group, VodafoneZiggo, and currently the youngest Chief Strategy Officer of global leading listed telco, KPN B.V.
Entrepreneur at heart: Founded and exited Fintech and AI based platforms in 2019 namely, SureCargo to Santova B.V. and EmptyTrips to Vector Logistics (RCL Foods).
Thought Leader: Known for impactful prowess, and her popular book “Daddy says no”, focusing on psychology and behavioral habits leading to success.
Venture Investment Partner: Collaborates with founders for a diverse pipeline fitting criteria of expectations.

Theunis B de Bruyn
Investment Associate
While pursuing his sporting dreams, Theunis also finished a BCom degree in Finance.
He joined Calibre in June 2022, bringing with him a new set of skills stemming from his experiences in his sports career. He has already co-invested in Calibre transactions.
Although he is fresh to this new journey, he enjoys working with people and building strong team cultures.
More than that, in line with Calibre’s vision, Theunis is passionate about South Africa.

Maria Nectaria Stenos
Office Manager and Personal Assistant
Maria had a grass roots start in the business world. Starting out in retail as a cashier in 2012, while studying part time towards her LLB . She worked her way up to repairs and reception, and eventually to Finance Assistant and Foreign Creditors Clerk for Outdoor Investment Holdings, one of our associate companies.
In 2018, her path led her to become Creditor Supervisor for an I.T. Company, where she remained until 2021.
Today, having resumed her studies, Maria works as the Office Manager and Personal Assistant for Theunis de Bruyn at Calibre Capital.
Contact Us
Contact us if you require:
- Guidance and capital in exiting all, or, part of your business.
- Require guidance and capital for succession planning.
- Capital to fund organic growth (enhanced capacity).
- Capital to fund a strategic acquisition or merger.
- Capital to expand your geographic footprint.
- Capital for a management buy-out or management buy-in.
- Funds to buy-out or replace a business partner.
- Funds to take your public company private.
- Mentorship and insights.