# SPEAR Capital

> SPEAR Capital is a VC fund in Cape Town backing Manufacturing and Food and Beverage. See 6 investments, check sizes, portfolio. Updated Sep 2026.

- Type: VC Fund
- Location: Cape Town, South Africa
- Total investments: 6
- Last investment: Jun 2024
- Lead investor: 67%
- Last updated: Sep 2026
- LinkedIn: https://www.linkedin.com/company/spear-capital-as/
- Website: https://www.spearcapital.com/

SPEAR Capital is a VC fund in Cape Town focused on Manufacturing and Food and Beverage. SPEAR Capital provide a balance of Scandinavian and African heritage and hold complimentary skills and experience across different industries. They provide partnerships that leverage Scandinavian business ethics/culture and local African knowledge to grow successful businesses. SPEAR provides growth capital to SMEs focused on fast movingconsumer goods (FMCG) and local production in a few carefully selected countries. The engagement of DFIs and institutional investors ensures that ESG issues are the value drivers. We are located in Cape Town, Harare and Oslo.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Manufacturing | 2 | 33% |
| Food and Beverage | 2 | 33% |
| Fashion | 1 | 17% |
| E-Commerce | 1 | 17% |
| Snack Food | 1 | 17% |

8 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Venture - Series Unknown | 4 | 67% |
| Series A | 1 | 17% |
| Private Equity | 1 | 17% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Zimbabwe | 2 | 33% |
| Malawi | 1 | 17% |
| South Africa | 1 | 17% |
| United Kingdom | 1 | 17% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Efoods Zimbabwe | Efoods Zimbabwe produces the standard packets and spices for the fast food and catering industry. |  | Venture - Series Unknown | Jun 02, 2024 |  |
| Associated Foods Zimbabwe | Associated Foods Zimbabwe is a food manufacturer and distributor of quality Spreads, Canned Products, Preserves, and Snack Foods in Zimbabwe. |  | Venture - Series Unknown | Jun 27, 2022 |  |
| Arkay Plastics | Arkay Plastics are manufacturers of plastic items. |  | Private Equity | May 23, 2022 |  |
| Runwaysale | Runway is one of the biggest online retailers in Southern Africa. They use technology to disrupt the retail market that has long been dominated by a few large players - who enjoy some of the worlds highest retail margins. They have developed logistics and supplier integration platforms for the unique African market. Their focus is onfashion/homeware and ultimately delivering price savings to the end consumer. This focus on "value" retail has resulted in them capturing a largely underserved and fast-growing middle-class customer base. With the continent enjoying some of the highest mobile penetration in the world - and smartphones becoming more common - the majority of their traffic is now from mobile. |  | Venture - Series Unknown | Dec 07, 2021 |  |
| Runwaysale | Runway is one of the biggest online retailers in Southern Africa. They use technology to disrupt the retail market that has long been dominated by a few large players - who enjoy some of the worlds highest retail margins. They have developed logistics and supplier integration platforms for the unique African market. Their focus is onfashion/homeware and ultimately delivering price savings to the end consumer. This focus on "value" retail has resulted in them capturing a largely underserved and fast-growing middle-class customer base. With the continent enjoying some of the highest mobile penetration in the world - and smartphones becoming more common - the majority of their traffic is now from mobile. | $5.7M | Series A | Jun 02, 2020 |  |
| Peries Foods | Peries Foods is a food processing company. They offer a range of processed foods, such as beechwood smoked chicken, fresh smoked chicken, and frozen smoked chicken. They utilize the latest technology to ensure that all their products maintain quality. | $4.5M | Venture - Series Unknown | Mar 15, 2019 |  |

6 of 6 investments shown.

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## FAQ

### What does SPEAR Capital invest in?

SPEAR Capital invests primarily in Manufacturing, Food and Beverage and Fashion startups, most often at Venture - Series Unknown and Series A stage. Most of the 6 investments tracked by Shizune back companies in Zimbabwe. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did SPEAR Capital last invest?

The most recent investment recorded for SPEAR Capital closed in Jun 2024. Shizune tracks 6 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Sep 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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