Gender Smart | October 12, 2023

Sanari Capital lands $65 million to invest in South African businesses and job growth

Lucy Ngige
Guest Author

Lucy Ngige

ImpactAlpha, October 12 – Sanari Capital has for a decade provided growth capital to South Africa’s mid-sized businesses. The portfolio of the women-led, Johannesburg-based private equity firm includes Edulife, a 25-year old operator of private schools, including low-fee schools that target low-income learners. It has also invested in biometric data company iidentifii and women-led sensor manufacturer LightWare.

Sanari has raised $65 million for its growth equity fund from the Public Investment Corp., which manages Africa’s largest pension fund, the Government Employees Pension Fund, as well as 27four Black Business Growth Fund, Telkom Retirement Fund, the Motor Industry Retirement Funds, and the National Fund for Municipal Workers.

The fresh injection of capital “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’s Samantha Pokroy said.

Sanari is targeting a $100 million final close.