Vantage Capital, a South African asset manager, raised 1.9 billion rand ($223 million) for its second mezzanine fund that attracted investors including the W.K. Kellogg Foundation.
The fund received capital from 20 institutional investors, including 14 pension funds from South Africa and Botswana, as well as the Development Bank of Southern Africa and the Norwegian Investment Fund for Developing Countries, the Johannesburg-based firm said today in an e-mailed statement.
The fund has invested more than 300 million rand in three transactions, and has three other deals in the pipeline which will soon bring total investments to more than 600 million rand, Luc Albinski, co-managing partner of Vantage, said in the statement.
The fund focuses on investments in mid-sized growth companies in South Africa and the rest of the African continent.
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