South Africa’s Vantage Capital Closes Its Fourth Mezzanine Fund

Vantage Capital , one of Africa’s largest mezzanine fund managers, has closed its fourth mezzanine fund. A total of USD 377 M of commitments has been secured from a mix of European and US-based commercial investors, and a host of development finance institutions (DFIs) that include IFC, BII, SIFEM, DEG, Norfund, Swedfund, Finnfund and EIB.

Vantage will continue to provide mid-sized African businesses with flexible capital to drive business expansion and support job creation. Since 2006, Vantage Capital’s Mezzanine division has made 33 investments across four funds into 11 African countries, making it one of the largest and most experienced independent mezzanine funders on the continent. Its inaugural mezzanine fund was raised in 2006, with USD 150 M invested into five South African companies. In 2012, its second mezzanine fund of USD 240 M was raised, investing into a portfolio of 13 companies across Africa. This was followed by its third mezzanine fund of USD 287 M raised in 2015, with a further 13 investments spread across the continent. Vantage is now raising USD 377 M for its fourth mezzanine fund as a validation of the growing demand for flexible funding solutions amongst mid-sized African corporates.