South Africa: IFC proposes commitment to Summit Africa fund
The Summit Private Equity Fund II has a target size of $140 million.
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The International Finance Corporation (IFC) has disclosed a proposed commitment of up to $20 million to the Summit Private Equity Fund II, together with a co-investment envelope of $5 million.
The fund, managed by Summit Africa, is a South African generalist growth equity vehicle focused on the small to mid-market segment, with an emphasis on non-discretionary services in sectors characterised by persistent structural undersupply.
The Summit Private Equity Fund II has a target size of $140 million.
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