South Africa’s Secha Capital has announced a first close of ZAR300 million (US$15.7 million) of its second fund, the target size of which is ZAR650 million (US$34 million). Secha Capital Fund II will follow a similar mandate, and has now concluded a first close of ZAR300 million (US$15.7 million). Investors include RMB Ventures, 27four Investment Managers, the SA SME Fund and Caleo Capital. The fund, which is targeting a final size of ZAR650M (US$34 million), invests in traditional companies across sectors in Southern Africa that are making the tech-enabled transition into the green economy. Most capital in Southern Africa is invested in either extremes — early-stage startups or mature companies.

Source: The North Africa Journal September 29, 2023 14:02 UTC