Salt Capital reaches first close of new Africa fund with strong commercial investor support
Salt Capital, a private equity investment firm focused on Africa, recently concluded the first close of their new fund, Salt Equity I Fund (SEQI), with US$46.5 million committed capital.
SEQI will principally target best in class consumer facing small and medium-sized enterprises (SME) across the Southern African Development Community (SADC) seeking growth capital between US$5 million and US$15 million. Sectors of focus will include healthcare, financial services, and food and beverages.
The Fund is targeting a final close of US$100 million capital commitments over the next 12 months.
Whilst SEQI is a new fund, Salt Capital has been successfully investing in Africa’s SME private equity space via investment consortiums for more than a decade. The launch of the SEQI however, celebrates a strategic process change for Salt Capital, and the team is particularly proud to have been able to raise the majority of first close commitments from commercial investors, including AfricaGrow (a fund of funds managed by Allianz Global Investors and advised by DEG Impact), coupled with the crucial support of two prominent Development Finance Institutions, namely the International Finance Corporation (IFC) and PROPARCO, via the FISEA+ facility funded by AFD and implemented by PROPARCO as part of the Choose Africa initiative.
As strong advocates for the ongoing African growth story, Salt Capital has the ability to unlock value through a hands-on approach to investing and value creation. The Salt Capital team have themselves committed US$5 million to the first close representing in excess of 10% of total first close commitments and 5% of the fund target size.
Salt Capital has a proven track record of ethical and responsible investments whilst supporting and uplifting local communities. The firm will continue striving to deliver the ideal blend between developmental impact on the African continent and superior returns for its stakeholders. The partners look forward to establishing new and close partnerships with like-minded accomplished entrepreneurial management teams in the SADC region.
Enquiries
Email: info@saltcapital.com
About Salt Capital
Founded in 2012, Salt Capital is a private equity investment firm focused on growth capital investments in sub-Saharan Africa. Based in London and Johannesburg, Salt Capital’s four Partners have built a track record of successful investments with a core focus on the African consumer. For more information visit www.saltcapital.com or follow on LinkedIn.