SPEAR Capital, an international private equity firm with a focus on southern Africa, has increased its investment stake in South African online fashion retailer MyRunway.

Formerly called RunwaySale, MyRunway has warehouses in Cape Town and Johannesburg and ships more than 600,000 fashion items a year across South Africa.

The investment builds on the R100 million ($6.3 million) stake SPEAR Capital took in the company in early 2020 and is a testament to MyRunway’s ongoing growth...