Kholo Capital Mezzanine Debt Fund I achieves first close
Kholo Capital Mezzanine Debt Fund I has secured R870 million (about $47.7 million) in commitments for investments in mid-market companies with operations in Southern Africa (South Africa, Botswana, Namibia, Lesotho and Swaziland). These first close commitments have been secured from institutional investors including the 27four Black Business Growth Fund, RisCura (on behalf of various clients), the Mineworkers Provident Fund, the National Fund for Municipal Workers and Thuso Partners, and represent a significant milestone in the fund’s ambitions to reach a target final close of R1.5 billion (about $82.3 million).
Kholo Capital will focus on investing in companies generating a minimum of R25 million (about $1.4 million) EBITDA across various growth sectors of the economy, providing access to capital within a preferred range of R50-200 million (about $2.7-$11 million) per investment.
Zaheer Cassim, founder and managing partner at Kholo Capital said, “Our aim is to invest responsibly, and, in the process, create jobs and sustainable businesses. We will add value by providing strategic and financial support to investee companies including family-owned and black-owned businesses. Our assistance will help these businesses to build much needed capacity and professionalise. We would like to thank all our investors that have supported us to getting to this first close.”