INVESTMENT CRITERIA
The First National Bank Black Business Growth Fund I (FNB BBGF I) is a partnership between Kleoss Capital (Pty) Limited and First National Bank, part of FirstRand Limited (www.firstRand.co.za). The partnership allows Kleoss Capital (Pty) Limited to invest in First National Bank small to medium-sized businesses with a maximum cheque of a million and a maximum Earnings Before Interest, Taxation and Depreciation (EBITDA) or Earnings Before Interest and Taxation (EBIT) of not more than R40million, but higher than R10million. FNB BBGF is sector agonistic and in certain instances, it will co-invest with other private equity firms. In addition FNB BBGF considers similar qualitative criteria to Fund I and Fund II