Finance

Vantage Capital raises $207 million to support Africa's mid-market sector

Monday, 12 July 2021 12:34
Vantage Capital raises $207 million to support Africa's mid-market sector

(Ecofin Agency) - Vantage Capital, a South African black-owned and managed private equity fund manager, announced the first close for its fourth mezzanine fund - Vantage Mezzanine Fund IV. The fund which aims to raise $350 million at the final close, has now raised $207 million to provide mid-sized African businesses with capital that will enhance job creation, facilitate economic opportunities and growth.

Commitments for the Vantage Mezzanine Fund IV's initial close came from a group of European and US-based commercial investors as well as development finance institutions including the International Finance Corporation, CDC Group, and SIFEM.

“Vantage Capital’s mezzanine offering plays an important role in supporting the growth of mid-sized businesses that would otherwise struggle to access capital through conventional banking channels,” said Luc Albinski, Executive Chairman of Vantage Capital. “Vantage’s non-dilutive funding enables business owners to retain control and hold on to their equity, while at the same time accessing the capital needed to realize their full potential. This, in turn, plays an important role in driving economic growth, job creation, and improved prosperity,” he added.

Vantage Capital commenced business in 2001 as a black-owned and managed private equity fund manager and has so far raised a total of $849.9 million across four funds with their latest being Vantage Mezzanine Fund III which announced a total of ZAR3.7 billion raised in 2016. The organization since then has made 24 investments with most of its investments active in the real estate, property development, financial service, property management, and manufacturing sectors.

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