South African VC Firm Secha Capital Announces USD 15.7 M First Close Of Second Fund

South Africa’s Secha Capital has announced a first close of ZAR300 million (USD 15.7 M) of its second fund, the target size of which is ZAR650 million (USD 34 M).  Investors include RMB Ventures, 27four Investment Managers, the SA SME Fund and Caleo Capital.  

The fund, which is targeting a final size of ZAR650M (USD 34 M), invests in traditional companies across sectors in Southern Africa that are making the tech-enabled transition into the green economy. The new fund has already made four investments, in iG3N, Cultura Fresh, Herbivore and FarmTrace, and plans to make 10 more investments within the next five years. Secha Capital runs an operator-investor model that places highly-skilled human capital resources into its portfolio companies to work on high impact value creation projects that deliver exponential growth for its entrepreneurs.