Infra Impact Investment Managers, the specialist infrastructure investment firm, has reached the ZAR 250 million (about $17 million) first close target of its maiden institutional fund, the Infra Impact Mid-Market Infrastructure Fund 1. The fund is seeking to raise total capital commitments of ZAR 1.5 billion (about 102.5 million).

The fund aims to provide growth capital for South African focused mid-market infrastructure businesses, which own real assets that provide essential service...