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South Africa: Spear Capital invests R100mln in RunwaySale

Tuesday, 02 June 2020 13:38
South Africa: Spear Capital invests R100mln in RunwaySale

(Ecofin Agency) - In South Africa, the private equity firm Spear Capital announced an investment of R100 million (about $5.7 million) in the fashion e-tailer RunwaySale. The investment conditions were not disclosed.

The financing will support the expansion of the company, founded in 2012 by Karl and Elmien Hammerschmidt, on a local fashion market that is expected to generate up to $1 billion in revenues this year according to the German stats portal Statista.

RunwaySale, which offers more than 300 fashion brands, intends to continue its development primarily in the local market and probably later in the sub-region.

On the African continent, Spear Capital is present in the consumer goods, retail and health services sector with financing generally ranging from $2 million to $10 million.

Chamberline Moko



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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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