Sanari Capital, a women-led and majority Black- and women-owned South African private equity firm, has raised ZAR1.25 billion (US$65 million) in the second close of its growth fund, which aims to fuel employment opportunities and foster economic growth across Africa. Sanari Capital invests between ZAR50 million (US$2.6 million) and ZAR250 million (US$13 million) in well-established businesses at an inflection point, driven by technology, innovation, thematic or sectoral growth drivers, and new markets. The Sanari 3S Growth Fund, which has just achieved a second close at US$65 million, is targeting a final close of up to $100 million. The PIC manages capital for the Government Employees Pension Fund (GEPF), which is the largest pension fund in Africa. The capital invested by the fund qualifies as 100 per cent black ownership in underlying portfolio companies, offering benefits over and above the firm’s growth capital and value-adding support.

Source: The North Africa Journal October 10, 2023 15:03 UTC