Capital into hectares: The Original Grain Fund
A ring-fenced route for long-term investor capital into white maize production under AAPP: a dedicated vehicle, insured field operations, a signed buyer and cycle-by-cycle reporting.
The Original Grain Fund channels investor capital into the complete cost of commercial maize production under the AAPP operating model. Capital is not held for passive exposure: it is deployed into land preparation, inputs, insured field operations, harvest and market delivery across selected production units, within a dedicated vehicle that is separate from unrelated liabilities. One disciplined crop cycle builds the operating evidence and the productive base for the next.
Why white maize, and why now
White maize is the staple across Southern Africa, and the land to grow more of it already exists. What is missing is capital that arrives on time, expertise in the field and a buyer before planting. AAPP brings the three together.
- 1 in 5people on the African continent go hungry each day
- Staplewhite maize feeds the region, from Cape Town to the Copperbelt
- Insuredcapital goes into insured production with the offtake agreed up front
Read the video text
Africa is hungry. One out of five people go hungry each day on the African continent. Food security is more important than ever, but challenges faced include capital and skill shortages, conflict and economic instability. White maize is the staple food. We have the land to grow the maize that can start to make a difference. Our vision is to improve food security in the SADC region by achieving our goal of growing 100,000 tonnes of white maize over the next 12 months. Become a part of this journey with The Original Grain Company by investing into its AAPP programme. By investing into this agricultural sector, you will not just be investing, but contributing towards food security.
How the money moves
One season, one loop. Capital goes in at planting, the crop is ceded to the Fund and sold to The Original Grain Company at a SAFEX-related price, and the proceeds fund the priority distribution to investors and payments to landowners before the balance is distributed or rolled into the next season by agreement.
Who the Fund is for
Qualified, patient investors and finance partners seeking structured participation in professionally managed agricultural production over more than one season. The Fund is open to new investment; full terms are set out in the investment memorandum, available on request.
Structure
Long-term investor
Patient capital committed to the AAPP production mandate.
Limited-liability participation
Investors participate as silent partners; exposure is capped at the capital invested.
Grain Fund vehicle
Ring-fenced capital and governance; costs and performance sit inside the vehicle.
AAPP crop cycles
Production, offtake and settlement, repeated season by season.
Where the capital goes
Governance and control
Dedicated executive oversight separates investment monitoring from field execution. Chris Mavrokordatis, Chief Executive Officer, oversees the operation of the Fund, investor reporting and governance. Ryan New, Chief Operating Officer, is responsible for procurement, logistics, compliance, financial controls and crop-cycle performance. Both sit as directors of the Fund.
- Capital allocated to a defined productive mandate
- No external debt at the vehicle level Proposed
- Crop insurance included in the production cost base
- Milestone-led procurement and operating controls
- Professional executive and financial oversight
- Transparent cycle reporting and traceable cash flows
Risks
Yield can fall in a dry or hail-hit season. The SAFEX price at harvest can be lower than at planting. A landowner or contractor can fail to perform. Crop insurance covers the capital deployed against hail, fire and flood, with a separate income-protection policy for drought; it does not cover margin. Capital is at risk and returns are targets, not guarantees. Historical evidence and forward projections are labelled separately on this page.
How each risk is managed
| Asset protection | Rights over the crop and expected harvest are ceded to the vehicle, giving legal ownership and recourse. |
| Weather | Crop insurance on the capital deployed, plus drought income protection. |
| Geography | Capital spread across several smaller, dispersed land units to limit the effect of a local weather event. |
| Operations | Field execution by the Company's farming team with quality inputs and proven methods. |
| Market | Maize trades on SAFEX with transparent pricing, and the Company's offtake is agreed before planting. |
Track record
Four seasons completed at Vrede since 2022/23, growing from 200 hectares in the first season to 1,480 hectares in 2025/26. Yields have averaged 6.45 tonnes per hectare across the four seasons, and 2025/26 came in at just over 7 tonnes per hectare, in line with our pre-season estimates. We are aiming for 2,000 hectares in the coming planting season Projected. See the season-by-season table.
At a glance
| Investment horizon | Multi-season |
| Core exposure | White maize |
| Primary region | Free State, South Africa |
| Status | Open to new investment |
| Reporting | Monthly, with an annual statement at maturity |
| Term, minimum and target return | In the investment memorandum, on request |
Entity
The Original Grain Fund is a separate investment vehicle. It is not a charity and does not receive donations; The Original Grain NPC does not guarantee its performance.
Request the investment overview
Important information. This page is for discussion purposes only and does not constitute an offer to the public, financial advice or a guarantee of returns. Investment terms, risks, eligibility, tax treatment and exit mechanics will be set out in formal documents and should be assessed with independent professional advice.
Common questions
What does the Fund invest in?
The complete cost of white maize production under the AAPP programme: land preparation, inputs, insurance, field operations, harvest and market delivery.
How long is capital committed?
The Fund is designed for a multi-season relationship with a fixed term per subscription. The term, the minimum and any liquidity option are set out in the investment memorandum.
How is the return generated?
The crop is sold to The Original Grain Company at a SAFEX-related price; proceeds less costs and landowner payments fund the priority distribution to preference shareholders.
What happens in a drought year?
Yield falls and the distribution can be reduced or lost. Crop insurance covers the capital deployed against hail, fire and flood, and a separate income-protection policy covers drought; neither covers margin.
Who can invest?
Qualified investors and finance partners. Terms and eligibility are set out in the investment memorandum, available on request at info@theoriginalgraincompany.co.za.
Is the Fund a charity or part of the NPC?
No. The Fund is a separate investment vehicle. Donations and CSI funding go to The Original Grain NPC and are never invested in the Fund.
Request the investment overview
Structure, governance and cycle reporting, sent after a short call. Enquiries go to The Original Grain Fund.
- Reply within two working days, from a person, not a bot
- Priced off SAFEX, delivered to your site or the border
- One counterparty from farm to delivery
Prefer email? info@theoriginalgraincompany.co.za