South Africa: 27four Black Business Growth Fund II backs Vuna Partners
The 27four Black Business Growth Fund II Partnership (27four BBGF II), a blended finance partnership between the South African Government through the Jobs Fund, and South African institutional investors, has announced its commitment to Vuna Partners Fund which was concluded at the end of June 2021.
Vuna Fund I is a black private equity fund, with a generalist mid-market strategy, led by founders Siya Nhlumayo and Shafiek Rawoot. The Vuna Partners investment thesis is premised on backing management teams that are strong in their respective industries with a demonstrable track record, and driving sustainable value creation through meaningful alignment of Vuna Fund I’s interests with that of its investee company management teams and strategic sector partners.
27four BBGF II’s commitment takes the Vuna Fund I fund size to R435 million (about $29 million), alongside committed capital already secured from its first close in August 2020.
“We are excited by what Vuna Partners has set out to achieve and believe that our capital will support not only an emerging black private equity manager, but the underlying business and stakeholders on the ground with whom Vuna Partners will partner,” says head of private markets at 27four Investment Managers, Rory Ord.
“The Vuna team is led by two very credible and capable individuals who are well respected in the market and have a solid track record of not only driving commercial returns for investors, but also driving transformation and impact across the businesses that they are involved in,” says investment associate at 27four Investment Managers, Ridwaan Kajee.
Vuna Fund I reached its first close in August 2020 and completed its first investment shortly thereafter through acquiring a majority equity stake in specialised supply chain leader 4PL Group.
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