Sanari Capital has announced that its Sanari 3S Growth Fund has attained its first closure with a total of $28 million (Sanari 3SG) (Sanari 3SG).
The private equity business likes to invest in South African companies that are snowballing and could spread across Africa and the rest of the world.
To capitalize on its expertise in founder-run, owner-managed, and family-owned businesses, Sanari 3SG will invest in established and expanding businesses in industries that profit from Sanari’s thematic focus areas. These types of businesses will be targeted for investment by Sanari 3SG.
The manager’s second fund, but the first one geared at institutional investors, bears the name of Sanari’s patented framework for developing businesses that are Sustainable, Scalable, and Saleable (3S).
“We are pleased to hit this milestone that honours Sanari’s purpose-led strategy, built on experience and our one-of-a-kind style of innovative, disciplined investment that attracted substantial amounts of commercial money to the fund,” said Samantha Pokroy, CEO of Sanari. We value our investors’ belief in and support for our growth-stage PE strategy. We are thrilled to hear that pension funds are becoming more active in supporting the real economy and developing firms to produce social and financial benefits, and this development excites us.
The fund, which was only formally created, has already spent more than 30% of the first close, committed cash, with two investments kept back until closing and a third to be disclosed.
The investment made by the fund is considered to represent a 100% ownership stake in the underlying portfolio firms. Notable is that the fund also meets the requirements of the 2X Challenge, which asks development finance institutions and private sector investors for money to support women’s leadership and empowerment in the global economy.