The fast-growing Cape headquartered property financiers, Property Partners, announced that they are setting up a new venture capital fund for offshore investors. These people will be invited to finance property developments in the Cape and Gauteng.

Stuart Chait, Chief Executive of Property Partners, said that he is confident that up to R20 – 30 million will become available within six weeks and he is, therefore, now looking for young entrepreneurs who will come forward with viable property development proposals that require funding.

"If and when Property Partners do decide to back a development," said Chait, "we will in most cases insist on being given a share of the profits, not simply a percentage of the return on the money advanced.

"We will, however, assist the developers to set up and package their projects so as to maximise their profit."

Chait said that he is looking at projects valued at R5 million or more giving returns in excess of 25% of development cost, as anything less than this would, he said, not be worthwhile for Property Partners. He stressed that although venture capital projects of this kind are generally regarded as being of a high risk nature, the combined 100 years of experience of the Property Partners senior management will ensure that deals are properly structured and that money is not advanced until he is satisfied that there is very good chance of the development proving successful.

Interested parties are invited to call Jason Lee at Property Partners on 021 670-5050