Vantage Capital, one of Africa’s largest mezzanine fund managers, has announced the first close of its fourth mezzanine fund, with USD 207 Mn commitments from commercial investors in Europe and the United States, as well as development finance institutions (DFIs) such as the International Finance Corporation (IFC), the CDC Group, and SIFEM.
The fund will provide flexible funding to mid-sized African enterprises, boosting job creation and facilitating much-needed economic possibilities and growth, particularly for post-Covid-19 recovery. Vantage Capital’s Mezzanine division has made 31 investments in 11 African countries across three funds since 2006.
Its inaugural mezzanine fund was raised in 2006, with USD 150 Mn invested into five South African companies. In 2012, its second mezzanine fund of USD 240 Mn was raised, investing into a portfolio of 13 companies across Africa. It was followed by its third mezzanine fund of USD 287 Mn raised in 2015, with a further 13 investments spread across the continent.