Tamela Mezzanine Debt Fund I signs more capital commitments
Independent South African-based fund manager, Tamela Capital Partners, a subsidiary of Tamela Holdings, has during the last year raised more capital to increase its capital committed to the Tamela Capital Mezzanine Debt Fund 1 to R620 million (about $44 million).
The Tamela Fund recently concluded its first investment providing mezzanine capital for growth to Retail Capital, a company that provides small business with innovative working capital solutions.
The Tamela Fund aims to finance mid-market companies who wish to grow their businesses, enter new markets and accelerate growth through expanding operations or consummating strategic acquisitions. The fund provides capital ranging from R50 million (about $3.6 million) to R150 million (about $10.7 million) per investee company.
The Tamela Fund provides entrepreneurs with alternative financing options and strategic support to enable them to contribute to economic growth and job creation.
Tamela Fund investor and managing director, Sydney Mhlarhi says, “We have a good pipeline of transactions that are currently at various stages of evaluation.” Co-founder and managing director, Moeketsi Mokuoane reiterated the sentiment. “The Tamela Fund remains open to new investors and is targeting a final close of R1 billion (about $71 million).”
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