By Mitchan Adams.
Three years ago, Aions was an ambitious startup with a vision—to reshape South Africa’s venture ecosystem and unlock new paths for entrepreneurial success. Today, it is a thriving venture builder that has helped grow 11 standout startups, developed cutting-edge fintech platforms, and built a reputation as one of Telkom’s most successful Enterprise and Supplier Development (ESD) partners.
But the journey was far from smooth. In fact, Aions nearly did not make it past its first year.
“We had no track record, no access to funding mechanisms like ESD support, and we were running out of money fast,” recalls co-founder and CEO Mitchan Adams and COO Kerryn Campion. “By December of year one, we had internally agreed to call it quits if we could not find a solution by the end of March. We called that plan ‘Project C-Cliff’— Corporate Cliff.”
That’s when Telkom stepped in.
In a bold move, Telkom backed Aions with ESD funding—an act Adams describes as “life-saving.” The funds landed in their account on the last day of March, just in time to pay staff salaries. That pivotal moment not only kept Aions alive; it enabled the team to regroup, refocus, and start building a track record of impact.
“In that first year, we had already invested in four startups using our own funds. Telkom’s belief in us gave us the runway to formalise our model, launch new ventures, and scale with purpose.”
Year Two: Growth, scrutiny, and startup wins
With new energy and a clear mandate, Aions entered its second year focused on growth. The goal: invest in at least five high-potential companies while sustaining internal operations.
While the investment rollout took longer than initially expected, Aions had finalised five high-potential investments by March of the following year—each one going on to validate the strength of its model.
Since its inception, Aions has backed 11 startups, including The Awareness Company, Delivery Ka Speed, Welo, Franc, Credipple, and SpaceSalad. Together, these companies have secured significant follow-on funding—such as a $1.6 million raise—expanded into six African countries and three new South African provinces, won industry awards, and formed strategic partnerships. Their success has helped cement Aions’ position as a credible force in the South African venture ecosystem.
Year Three: Proof of concept and earning trust
If Year Two was about learning under pressure, Year Three was about proving the model. Facing tighter oversight and lingering scepticism, Aions shifted gears.
“We went from being viewed as the underdog to being referred to as jewels in early stage fund management,” Adams says. “But we had to earn that. We delivered results, and our startups started to shine.”
Aions also refined its structure—spinning out separate entities for ICT (Aions Creative Technology), social impact (Avata PBO), and financial services (Aions Ventures). New initiatives like Usko, a trade finance tool designed to support underserved SMEs, and “Permission to Dream,” a financial education and youth funding programme housed within Avata, further broadened the group’s impact.
Charting a new path
Looking back, Adams is candid about the lessons: “We have learned that survival is not just about funding. It is about belief, adaptation, and the people who show up when things are falling apart.”
He credits Telkom not just for funding Aions, but for taking a risk on an unproven idea—and standing by it through the ups and downs. It was obviously a calculated risk considering our value proposition and our individual profiles however, Aions had no institutional track record. “If Telkom had not taken a chance on us, none of this would have happened.”
Looking ahead, Aions is charting new territory through pan-African expansion, ecosystem building, and launching a self-funded trade finance platform. While the mission has evolved over time, its essence remains the same: from building sustainable companies to creating sustainable jobs, to architecting the future of sustainable startups.
As Adams puts it: “This country has all the ingredients. We are just here to stir the pot.”
Mitchan Adams is the CEO of Aions.