Finance

Vantage Capital divests shares in Vumatel

Friday, 08 May 2020 15:46
Vantage Capital divests shares in Vumatel

(Ecofin Agency) - Vantage Capital is exiting the shareholding of the optical network operator Vumatel. The mezzanine fund manager has spent nearly four years as an investor and shareholder in the company, which is engaged in the provision of optical fiber infrastructure and services to internet service providers.

In 2016, Vantage Capital provided R250 million ($13.4 million) in mezzanine financing to support the expansion of Vumatel’s network.

Vumatel is one of our many success stories, where we have supported businesses with mezzanine debt to achieve their growth ambitions,” said Luc Albinski, co-founder of Vantage Capital.

At the time of its investment, Vumatel had deployed its optical fiber network across 14 suburbs and had about 4,000 subscribers. The number of subscribers has since increased 50-fold.

According to Vantage managers, the company will explore new opportunities in the telecommunications infrastructure sector across the continent, hoping to conclude new investments in this high-potential area in the coming months.

Chamberline Moko



 
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