Quick scalability into large markets

• Must have received funding from at least one reputable
  funder
• Commercial participation or partnership with larger more
  established entities

Exclusive intellectual property

• Hard to replicate

Pipeline deals

• Project Student
• Project Insure
• Project Circle
• Project College
• Project Call Centre
• Project Paediatrics

Vitruvian MD
So far in the Venture Capital Fund there are 5 signed commercial contracts for products with different clients. Currently 45 cameras have been sold as part of the uptake of the VisionMD camera. 3 out of 5 clients were converted for the conversion and upsell of the Vision MD telepathology that generates recurring revenue from AI usage. The set ARR was at least $30k, however the in progress ARR is ranging at $53k. Which is a great turnover so far. Most of the milestones to be reached they are in progress, like the patent it is yet to be filed, the Phase 1 FDA Approval was received and has progressed to Phase 2. Currently the team has a commercial level of tooling but this is not sufficient to scale industrially.

27four expects to exit after the next 5 years and during the Vitruvian Series B raise at a 4x revenue multiple.

Kena Health

During March 2024, Kena signed an in-kind equity deal with one of South Africa’s largest retailers. Through this deal, the investor will earn more or less 10% equity in Kena in exchange for bringing the company massive customer acquisition over the next 18 months. If this first phase succeeds, Shoprite has the option to invest cash to top their shareholding up further. The deal will reduce Kena’s cost of customer acquisition to zero over the next 12 months. Kena has signed a number of new B2B(2C) customers during the quarter, that have added R500,000 in revenue.
27four has taken the view that the most likely exit route is through strategic acquisition. Old Mutual, Shoprite or Dischem are ideal candidates with existing relationships with Kena and the Founder.

Entersekt has started rolling out their security systems in the US and Europe. They currently service 4 of the 5 large banks in SA and other financial institutions.

Floatpays is focussed on their sizeable market in South Africa at present. They have long term plans to roll out into other countries through their agreement with Tyme Bank but at the moment they have sufficient market in SA.