Hlayisani Growth Fund (HGF) has announced its first close at R350 million (about $23.9 million) to invest into high-growth, high-impact businesses. The funding round was led by Standard Bank and prominent South African family offices.

Focused on the SME ecosystem, the HGF tackles the existing SME funding gap between early-stage venture capital and more traditional private equity in South Africa. The fund offers strategic support and capital to high-growth, highly scalable SMEs with a p...