Richmark Holdings goes from strength to strength
Being a talented entrepreneur, especially in difficult economic times, is often not enough to ensure success. This is where companies such as Richmark Holdings play a vital role in providing that critical first stage assistance.
Richmark Holdings was created by leading South African businessman, entrepreneur and philanthropist, Gavin Varejes as his way of giving the best and most innovative of his fellow countrymen the opportunity to grow and develop their business concepts into a working reality. With multi-industry experience, Varejes had moved some years earlier from his beloved Cape Town to the business centre of the country in Johannesburg, where his primary focus was on the rapidly developing telecom industry. |
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Early Backers of South African Telecommunication
However it was clear to Varejes that if these budding new telecom companies were to succeed they would inevitably require financial assistance during their early stage development. So in the year 2000, he founded Richmark Holdings with the purpose of providing local entrepreneurs not only with the financial support to develop their businesses but also hands on support in running their businesses.
It is in the interests of any venture capital company which funds a start-up to also be actively involved in the decision making processes of that company. Providing financial support and follow professional knowhow increases the likelihood of a budding start-up not only succeeding but also realizing its maximum potential.
In those early years, Richmark Holdings invested in a small yet select group of early stage businesses, mostly in the telecom industry and identified by Varejes as being likely to succeed, thanks largely to the group of competent professionals that were managing those companies.
It is in the interests of any venture capital company which funds a start-up to also be actively involved in the decision making processes of that company. Providing financial support and follow professional knowhow increases the likelihood of a budding start-up not only succeeding but also realizing its maximum potential.
In those early years, Richmark Holdings invested in a small yet select group of early stage businesses, mostly in the telecom industry and identified by Varejes as being likely to succeed, thanks largely to the group of competent professionals that were managing those companies.
Richmark Invests in Vo-Call Cellular
One of its early investments was in Vo-Call Cellular (Pty) Ltd., which has since become one of Vodacom’s most important Super Dealers and which exclusively markets and distributes Vodacom products and services across the southern part of Africa.
Another of Richmark’s successful investments was in Cellfind (Pty) Ltd., a telecom company which specializes in location-based services. Richmark Holdings provided the early stage investment; before exiting through the sale of the company to Blue Label Telecoms Limited in November 2007.
Another of Richmark’s successful investments was in Cellfind (Pty) Ltd., a telecom company which specializes in location-based services. Richmark Holdings provided the early stage investment; before exiting through the sale of the company to Blue Label Telecoms Limited in November 2007.
Diversifying Richmark's Portfolio
As Richmark Holdings has grown and developed, so the portfolio of companies in which it has invested has also diversified. These include a number of commercial companies which specialize in such varied industries as tactical response, security, cleaning services, spa therapies, online news and safety deposit box rentals.
It has also begun investing in property, with a view to not only owning but also in developing real estate. The company also offers a complete service in digital advertising, media and branding.
For Gavin Varejes, the dream of being able to make a positive and significant contribution to the South African economy, by creating jobs and empowering people, has over the past decade become a reality.
It has also begun investing in property, with a view to not only owning but also in developing real estate. The company also offers a complete service in digital advertising, media and branding.
For Gavin Varejes, the dream of being able to make a positive and significant contribution to the South African economy, by creating jobs and empowering people, has over the past decade become a reality.
Corporate Social Responsibility
Varejes has also pursued his philanthropic and sporting loves, with Richmark Holdings supporting a number of projects and organizations, including the South African Rugby Legends charitable trust. Created by a group of ex-Springbok and provincial rugby players, the charity uses sport as a catalyst to bring people together and to help those in economically disadvantaged communities.