Sanari Capital in first close of R475-million fund

Sanari Capital has announced the first close of a new, R475-million private equity fund for investment in South African growth companies, including in the technology sector.

The first close of the Sanari 3S Growth Fund (3SG) will invest in growth companies emanating from Africa, and mainly from South Africa, with regional and global scalability and exposure, the company said in a statement.

“Sanari 3SG will invest in established and growing companies in industries that benefit from Sanari’s thematic focus areas and capitalise on its specialisation of investing in founder-run, owner-managed and family-owned businesses,” it said. The fund is the manager’s second but the first targeting institutional investors.

At its first close, Sanari 3SG has received commitments from the 27Four Black Business Growth Fund, RisCura (on behalf of various clients) and the National Fund for Municipal Workers.

“Officially launching now, the fund has already deployed over 30% of its first close committed capital, with two investments warehoused before closing and a third investment in a fintech services provider to be announced shortly.”

The first two investments are in:

  • Edulife Group, the largest independent schools group in the Free State, which is embarking on a national expansion.
  • LightWare LiDAR, a South African developer and manufacturer of micro LiDAR systems (remote sensing technology) for drones, robots, autonomous vehicles, interent of things and smart cities.

“Sanari has a significant pipeline of investment opportunities in healthcare, agri-business, education, services, food and technology,” the company said.

Bowmans served as legal adviser for the fund.  – © 2022 NewsCentral Media

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