IFC discloses investment in Vantage mezzanine fund
The IFC has disclosed a proposed equity investment of up to $25 million, not to exceed 20% of total capital committed, in the fund known as Vantage Mezzanine IV Pan African Sub-Fund Partnership, a fund, which, together with two additional distinct limited partnerships, has a target size of $350 million.
The Pan African Sub-Fund will be managed by Vantage Capital and aims to boost the growth of Africa’s nascent mezzanine finance industry by providing much-needed capital to African mid-sized companies, many of which are or have been negatively impacted by the Covid-19 pandemic. The project will support high-growth, mid-market companies, some of which will have a portion of their revenues in hard currency.
The Vantage Capital Group is an Africa-focused fund manager founded in 2001. To date, the group has raised six funds with aggregate commitments of more than $1 billion. Since 2006, Vantage Capital’s mezzanine division has made 31 investments across three funds into 11 African countries, making it the largest and most experienced independent mezzanine funder on the continent.
Vantage Capital is headquartered in South Africa, with offices in Johannesburg and Cape Town.
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