Sanari Capital, a prominent private equity firm based in South Africa, has proudly announced the successful final close of its Sanari 3S Growth Fund, securing an impressive R1.5 billion (approximately $80 million). This significant achievement underscores the firm’s commitment to fostering growth in mid-market businesses across Africa, with a particular focus on those driven by technology, innovation, and sectoral growth trends.
Samantha Pokroy, the CEO of Sanari Capital, expressed her excitement about reaching this milestone, emphasizing the confidence it demonstrates in the firm’s investment strategy. She stated, “With four investments already made and a robust pipeline of opportunities that align with our themes, this capital enables us to execute our plans swiftly. We are optimistic about the positive impact this will have on the ground and on the fund’s returns.”
The Sanari 3S Growth Fund has successfully attracted a diverse group of institutional investors. Among them are the Public Investment Corporation (PIC), Alexforbes Investments, the 27four Black Business Growth Fund, the Telkom Retirement Fund, the Motor Industry Retirement Funds, RisCura, and the National Fund for Municipal Workers. This diverse investor base reflects broad confidence in Sanari Capital’s approach and vision.
Sanari Capital’s investment model is designed to target businesses with significant scaling potential, offering investments of up to R250 million (approximately $14 million). The firm’s current portfolio is notable for its companies’ strong export orientation and geographic diversity, with around 60% of revenues generated in hard currency.
Moushmi Patel, Sanari’s executive director, highlighted the growing global demand for innovative South African businesses. She remarked, “We are continuously inspired by the compelling technology and innovation that thrive in our market.”
The fund’s existing portfolio includes several notable investments:
- Edulife Group: A provider of affordable schooling solutions.
- LightWare LiDAR: The developer of the world’s smallest and lightest LiDAR sensors.
- iiDENTIFii: Africa’s leading enterprise identity verification company.
- Energenic Holdings: A pan-African energy solutions provider.
Sanari Capital places a strong emphasis on diversity, transformation, and economic impact. Sihle Gumede, a representative of the firm, stated, “Private equity has a pivotal role in transforming our economy.” This commitment to making a meaningful economic impact is a cornerstone of Sanari Capital’s investment philosophy.
