Riaan van Heerden

Bacc (Hons), CA(SA), JSE Approved Executive

Riaan, a chartered accountant and JSE approved executive, completed his articles at PwC, servicing an array of clients locally and abroad. He joined the corporate finance team at PSG Capital in 2007 and remained with PSG Capital for 15 years. Riaan was a member of the PSG Capital Executive Committee, a Director and Head of Valuations until his departure in 2021. Riaan co-founded Valeo Capital in 2021 with David Tosi.

Riaan has extensive corporate finance experience. During his career, Riaan honed his skills as an all-round corporate financier, advising on numerous listings, M&A Transactions, disposal, scheme of arrangements, section 112 transactions, BEE ownership transactions, valuations, fairness opinions, and other corporate transactions in both the listed and unlisted space. Riaan was part of the PSG Capital team which advised Pioneer Foods on the Pepsico acquisition, receiving the prestigious Dealmakers Deal of the Year award for 2019.

David Tosi

LLB (cum laude), BComm (Hons) Financial Management, JSE Approved Executive

David is an admitted attorney and JSE approved executive. David completed his articles at Cliffe Dekker after which he joined the corporate finance team at PSG Capital in 2006. David remained at PSG Capital for 15 years where he was a member of the executive committee, a director and head of the JSE sponsor team upon his departure. David left PSG Capital in 2021 to establish Valeo Capital with Riaan van Heerden.

David has extensive corporate finance experience and has advised on numerous listings, de-listings, capital raisings, secondary placements, rights offers, M&A transactions, disposals, schemes of arrangements, section 112 transactions and other corporate transactions, in both the listed and unlisted space. David has in-depth regulatory experience, specifically in relation to the JSE Listings Requirements and the Takeover Regulations. David is a member of the JSE's Issuer Regulatory Advisory Committee.

Johannes Human

Bcomm (Hons), CFA

Vuyo Mzini

B.Bus.Sc (Finance Honours), BCom (Hons) Financial Accounting, CA (SA)

Vuyo is a chartered accountant. He completed his articles at Deloitte, servicing financial services institutions including hedge funds and pension funds. Vuyo started his post-articles career at a Cape Town based private equity firm where he was promoted to Deal Associate. He joined PSG Group Limited as executive assistant to the Chairman and CEO, and an analyst to PSG Alpha, the private equity arm of PSG Group. He later moved to PSG Capital, joining the valuations team until his departure in 2016 when he co-founded Adowa Property Developers, a quasi-private equity property fund focused on student accommodation development, having raised R2bn in committed capital from the Public Investment Corporation. In 2020 he founded Angoma-Mzini Investments (AMI) offering deal execution support to the venture capital and private equity industry. Vuyo has extensive corporate finance and private equity experience and has honed his skills in valuations and deal structuring, with exposure to listings, M&A transactions, disposals, valuations, fairness opinions, and other corporate transactions in both the listed and unlisted space. Vuyo is a consultant to Valeo Capital.

Lee-Anne Graham

BAcc, PG Dip Accounting Sciences CA (SA)

Lee-Anne is a Chartered Accountant and an experienced corporate finance professional with over 13 years in financial services, specialising in Retirements Funds across Namibia, United Kingdom and South-Africa.

As a Chartered Accountant with expertise in financial management and operational oversight, Lee-Anne plays a key role in coordinating and streamlining the day-to-day activities of the Valeo Capital team. With a sharp eye for detail and a strong foundation in accounting principles, she ensures that our team remains focused on delivering exceptional value to clients.

Elaine Edwards

BComm (Law), LLB

Elaine is an admitted attorney and a corporate financier at Valeo Capital. Prior to joining the Valeo Capital team, Elaine completed her articles at Basson Blackburn Inc in Paarl, where she gained excellent experience in various practice areas, with a focus on commercial and contract law.

Since joining Valeo Capital in 2022, Elaine has gained experience in a variety of corporate transactions including listings, de-listings, odd-lot offers, specific offers, M&A transactions, disposals, BEE ownership transactions and other corporate transactions, in both the listed and unlisted space, as well as JSE and CTSE regulatory matters.

Elaine continues to play an important role in advising clients on JSE sponsor, CTSE issuer agent and commercial legal matters.

Banele Kenqa

BCom in Finance and Accounting 

Alexandra Morey

BCom Accounting Science, PG Dip Accounting Science, CA (SA) 

Ally is a Chartered Accountant and corporate financier at Valeo Capital. She completed her SAICA articles at Deloitte, where she serviced a diverse portfolio of clients spanning the mining, telecommunications, retail, engineering and manufacturing industries. Following her articles she was seconded to Deloitte Australia, where she serviced clients in the pharmaceutical and retail industries.

Ally joined Valeo Capital in 2025 as a corporate financier, and assists the team in advising on valuations, fairness opinions and M&A transactions.

Braam Swanepoel

BAccLLB, BAcc (Hons), CA(SA)

Braam is a Chartered Accountant and corporate financier at Valeo Capital. He holds a Bachelor of Accounting and Laws and a Bachelor of Accounting (Honours) from Stellenbosch University, and has a strong foundation in financial reporting, financial modelling and strategic analysis.

Prior to joining Valeo Capital in 2026, Braam gained experience at Allan Gray across both investment and finance functions. His exposure includes fundamental equity research, valuation analysis, financial modelling and group financial reporting, as well as international secondments to Orbis Investment Advisory in the United Kingdom and Orbis Investment Management in Bermuda. At Valeo Capital, Braam assists the team in advising on valuations, fairness opinions and mergers and acquisitions transactions.

Louis Möller

BAcc (Hons), CA (SA)

Louis is a Chartered Accountant and an experienced corporate finance professional with over 12 years in financial services, spanning private equity, banking, and asset management. He has advised on transactions across multiple industries and geographies, providing strategic insights and valuation expertise to help clients achieve successful outcomes.
Louis began his career at an international professional services firm in South Africa and Ireland, gaining experience in corporate finance, advisory and assurance. He later joined a Big 4 firm in South Africa, working across assurance and transaction advisory. His subsequent roles include M&A advisory for an international boutique investment firm and serving as a valuations professional within a Big 4 firm in London, UK where he advised on transactions across private equity, financial services, real estate, and digital infrastructure.

Mahomed Ibrahim

Fellow of the Institute of Actuaries (UK), CFA® Charterholder, BBusSc (Actuarial Science, Finance Honours)

Mahomed spent six years as a senior actuarial and investment consultant at NMG, helping pension funds quantify and understand their liabilities and make investment decisions appropriate to them. He then spent three years at Perpetua Investment Managers as an equity research analyst covering a range of global and local companies across a wide range of sectors where he also acted as an assistant portfolio manager. Mahomed founded Palm Capital in 2017, a research-driven investment firm where he works on originating, carrying out due diligence, structuring and advising on global and local listed and unlisted equity and debt investment opportunities in companies across all stages of lifecycle. Mahomed is a consultant to Valeo Capital.

Sean Walsh

Honours B.Econ (Transport Economics), Stellenbosch

Sean is the former CEO of KAL Group, a JSE-listed company, a position he held from 2011 to February 2026.

As CEO, Sean led KAL Group's growth from an unlisted company trading over the counter to a JSE-listed company with a market capitalisation of R3.6 billion company primarily focused on agri-input retail operations (Agrimark) and the largest independent fuel retailer in South Africa (PEG), encompassing retail fuel forecourts, convenience retail and quick service restaurants. Sean also served as Chairman of AGBIZ until June 2026, representing over 100 agri-related businesses across the full agricultural value chain in South Africa, from input suppliers and bankers to producer organisations and large commercial producers.

Sean has more than three decades of senior leadership experience across the agricultural, retail and logistics sectors. Prior to KAL Group, he held senior positions including Operational Director at Kaap Agri Bedryf Limited (now Agrimark), General Manager at GWK Ltd, General Manager – CIT at SBV Services, Commercial Director at Derek Brink Holdings in Botswana, and General Manager at Sefalana Holdings Company Ltd in Botswana. He began his career at SAB Breweries in 1990, where he held various senior management positions in operations and distribution over a decade, culminating in the role of National Operations Manager – Third Party Distribution.

Lee-Ann Pillay

BComm (Acc), Professional Accountant, MBA

Lee-Ann is a highly qualified and experienced professional with a Masters in Business Administration (MBA) from the Graduate School of Business (UCT) and also holds a Bcom (Acc) degree. She completed her articles with PWC and was a practicing professional accountant for 13 years, before transitioning to management consulting in M&A, Strategy and Human Capital in 2017. Her expertise lie in Finance, Strategy and Project Management, which makes her a great all-rounder when it comes to driving organisations forward. Currently, she is Head of PMO at one of Africa’s largest fintech’s where she facilitates the roll-out of new products and spearheads the execution of C-Suites strategic objectives. Lee-Ann’s deep-seated passion also lies in “giving back”. She is a firm believer in a quote by Nelson Mandela, “For to be is not merely to cast off one’s chains, but to live in a way that respects and enhances the freedom of others.” With this at her core, serves as a trustee of the Valeo Capital Empowerment Trust and endeavours to help drive social development initiatives forward.

Ilze Watt

LLB, LLM (cum laude)

Ilze is an admitted attorney. Ilze completed her articles at ENS (previously Edward Nathan Sonnenbergs) and spent 10 years in the corporate and commercial department at the firm, focusing on M&A transactions in both the listed and unlisted space.

Ilze has extensive experience in a variety of corporate and commercial matters across various sectors, including M&A transactions, scheme of arrangements, listings, disposals and other corporate transactions. She has also managed and conducted numerous legal due diligence investigations, drafted and negotiated an array of commercial agreements, advised on and prepared regulatory submissions, drafted various JSE documents and managed the closing and implementation of transactions.

In 2023 she left ENS to establish Diritto Advisory, a legal consulting business which provides specialist corporate and commercial legal advisory services. Ilze is a consultant to Valeo Capital.