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Sanari Capital secures $80M to drive tech growth in Africa

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December 15, 2024
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Sanari Capital secures $80M to drive tech growth in Africa

Modupeoluwa Olalere by Modupeoluwa Olalere
December 15, 2024
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Sanari Capital secures $80M to drive tech growth in Africa

Sanari Capital secures $80M to drive tech growth in Africa

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Sanari Capital, a South African private equity firm founded by women and majority Black-owned, announced on December 12, 2024, the successful closing of its Sanari 3S Growth Fund, raising approximately $80 million (R1.5 billion). 

This fund aims to drive technology-focused growth across Africa, targeting mid-market companies that are founder-run or family-owned.

Read also: Klasha, Lianlian partner to simplify cross-border payments for Asian merchants in Africa

Investment strategy and impact

Sanari Capital invests in businesses that demonstrate strong potential for scalability and innovation. 

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The firm plans to allocate up to R250 million per business, focusing on critical sectors for economic transformation. 

“We aim to unlock business potential through a combination of digital and human enablement,” said Ofentse Pelle, Executive Director at Sanari Capital. 

The fund is already backing four companies: Edulife Group, LightWare LiDAR, iiDENTIFii, and Energenic Holdings. Each contributes to education, technology, identity verification, and sustainable energy solutions.

Samantha Pokroy, CEO of Sanari Capital, expressed enthusiasm about the fund’s closing, stating, “This milestone is a vote of confidence in our investment strategy.” 

Its portfolio and investment philosophy reflect the firm’s commitment to diversity and economic growth. 

“The funding will play a pivotal role in promoting diversity, fostering economic growth, creating jobs, and delivering impactful results,” noted Sihle Gumede, another Executive Director.

Read also: Access Bank acquires Bidvest Bank in South Africa, days after expanding to Malta

Support from institutional investors

The Sanari 3S Growth Fund has garnered support from several prominent South African institutions, including the Public Investment Corporation (PIC) and the 27four Black Business Growth Fund. 

This backing highlights investors’ confidence in Sanari Capital’s vision for driving impactful change across the continent. 

Moushmi Patel, Executive Director at Sanari Capital, emphasised the high demand for South African innovation beyond local borders: “We are continuously inspired by the compelling technology and innovation of South African businesses.”

As Sanari Capital embarks on this new chapter with its $80 million fund, it stands poised to make significant strides in enhancing Africa’s tech landscape. 

The firm’s focus on sustainability and scalability aligns with broader economic transformation goals across the continent. 

With a clear strategy and robust support from institutional investors, Sanari Capital is set to play a crucial role in shaping the future of African private equity investments.

Tags: AfricaSanari CapitalSouth African
Modupeoluwa Olalere

Modupeoluwa Olalere

Modupe is a tech content writer with 3+ years of experience turning complex ideas into clear, engaging stories. She covers innovation, digital trends, and emerging technologies. When she’s not writing, she’s exploring new tools or tracking trends shaping Africa’s tech ecosystem.

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