and setup your tax efficient venture financing

About Rencell

Rencell is a registered Section 12J VCC that facilitates tax-efficient financing for entrepreneurs and their ventures across a variety of Section 12J-compliant industries.

A quick, easy, innovation and cost-effective way to increase your business’s funding. Easy to scale – with shared resources and costs  – whilst enjoying all the Section 12J benefits, and reducing their risk and costs.

The Section 12J structure has been a key driver in a stimulating growth in the economy, greating jobs, and delivering returns to investors.

The Rencell fund is administered by Grovest

The pioneers of section 12J, and largest administrators of section 12J funds in South Africa


Board of directors

Jeff Miller

Non-Executive Director

Amaresh Chetty

Chief Executive Officer & Director

Adriaan Erasmus

Non-Executive Director

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Jeff Miller

Non-Executive Director

Jeff holds directorships on the boards of various companies in which he holds private equity investments. Jeff serves a Director on the Boards of the MSL Qualifying Companies. Jeff is the executive director and CEO of the Manager.

Jeff is a Chartered Accountant having completed his articles at Grant Thornton and has over 30 years’ experience investing in unlisted companies across numerous industries. Jeff co-founded Brandcorp, which was listed on the Johannesburg Stock Exchange in 1997.

Jeff brings many years of operational and investment skills to the Company. He was a co-founder of Grovest and Seed Engine and several companies in the Grovest Group including MeTTa Capital Moderate Risk Funds I, II and III. Jeff is a pioneer of Section 12J Venture Capital Companies in South Africa and is an active member of various sub-committees of SAVCA and Simodisa, both of which focus their efforts on the South African Venture Capital industry. Jeff serves on the Board of the 12J Association of South Africa. Jeff is also an active member of the Young Presidents Organisation.

Amaresh Chetty

Chief Executive Officer & Director

Amaresh worked at First Rand Bank in the leveraged debt division focusing on management buy-in’s/buy-out’s and BEE deals.

He thereafter joined Absa where he was a national manager of Specialised Finance, and an observer at the Incubator Fund private equity investment committee.

Amaresh then joined Circle Capital, a BEE investment holding company, founded and chaired by Mamphela Ramphele as their senior investment officer, responsible for investment evaluation and acquisitions.

At Circle Capital he worked on transactions across healthcare, financial services and education.

Experience includes cross-border finance incorporating export credit guarantees (aquarium project in Istanbul – arranged debt from a New Zealand bank utilising an NZECO guarantee) and mezzanine financing within the constraint of accommodating thin capitalisation rules.

Other transactions have included empowerment transactions in the real estate space, as well as the raising of mezzanine funding for real estate opportunities.

Amaresh has worked with one of the largest Scandinavian biotech funds on biotech transactions, specifically the due diligence, valuation and structuring of acquisition opportunities in Africa.

Amaresh was a Director of the current National Lottery operator (Ithuba). His other directorships include/have included Director at a lime mine, various resource exploration companies and a technology company which owns a suite of mineral processing patents as well as a conservation NPO.

He is currently a Director of a significant iron ore mining company and a fintech/proptech business.

Adriaan Erasmus

Non-Executive Director
Adriaan received his B. Com degree in 2014 and completed his B. Com Honours degree in the following year at Nelson Mandela Metropolitan University, he went on to complete his. In 2016 he is currently completing his CFA. Adriaan started his career as an Investment Analyst at the Tindale Group, relocating to Johannesburg to join Grovest Corporate Advisory where he became a senior member of the corporate finance team specialising in renewables, hospitality and asset rental business. Through his tireless efforts to accelerate the adoption of renewable energy in domestic applications he co-founded RSS establishing the residential solar model and making short term PPA’s commercially viable. Adriaan is a passionate, highly energetic and creative thinker whose skills will be an asset to Rencell.