Sanari Capital, a private equity firm based in South Africa, primarily owned and led by women, with a significant representation of black and women ownership, has successful fundraised of R1.25 billion ($65 million) for its growth fund.
According to Sanari, by completing the second closing for the ;Sanari 3S Growth Fund,’ it brings the firm closer to its goal of securing a final close equivalent of up to $100 million.
The latest investors joining in on this closing of the fund include:
- The Public Investment Corporation (PIC), which is said to be the largest asset manager on the African continent. The PIC manages capital for the Government Employees Pension Fund (GEPF), which is the largest pension fund in Africa
- Alexforbes Investments, described as the leading provider of multi-manager investment portfolios and related investment services in Southern Africa. Alexforbes Investments manages and administers assets worth R450 billion ($23.6 billion)
We are delighted to have raised capital from such highly regarded financial institutions, both of which share our commitment to achieving a balance between financial and socio-economic benefits. This funding will play a pivotal role in addressing structural economic imbalances, promoting transformation, fostering economic growth, creating jobs, and delivering both environmental and financial returns.
– Sanari Capital’s founder and CEO, Samantha Pokroy
With the addition of the 2 investors, this brings Sanari’s investor base to 7, with the following list of participants:
- 27four Black Business Growth Fund
- Telkom Retirement Fund
- Motor Industry Retirement Funds through the RisCura Manager Development Programme
- National Fund for Municipal Workers (NFMW)
- Alexforbes Investments
- Public Investment Corporation (PIC)
“We are grateful for our investors’ continued support and the additional top-up allocation provided by NFMW, which underscores their confidence in our portfolio and pipeline,” added Pokroy.
According to Sanari, the fund equips them with the financial muscle to invest in larger businesses than before, extending the reach of the firm’s investment strategy focused on founder-run, owner-managed and family-owned businesses across the mid-market segment.
Sanari Capital invests between R50 million ($2.6 million) and R250 million ($13.1 million) in well-established businesses at an inflection point and poised for growth through technology, innovation, thematic drivers, and entry into new markets.
Sanari’s investment philosophy emphasizes themes such as technology, a more interconnected digital world, IoT, data, and services.
Furthermore, in line with the rising global consciousness of social responsibility, Sanari strategically invests in sectors vital to human well-being, including education, healthcare, food security, and eco-friendly solutions.
