Dealflow | July 21, 2021

Vantage Capital raises $207 million in mezzanine debt for African businesses

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, July 21 — The Johannesburg-based firm will provide non-dilutive financing for mid-sized African businesses “that would otherwise struggle to access capital through conventional banking channels,” said Vantage’s Luc Albinski.

The fund will make investments ranging in size from $10 million to $40 million.

Investors in the fourth fund include Washington, D.C.-based International Finance Corp., the U.K.’s CDC Group and the Swiss Investment Fund for Emerging Markets.

In its first three funds, Vantage raised $677 million, mainly from European and U.S. insurance companies, pension funds, endowments and development finance institutions and invested in 31 businesses in 11 countries.