New Investments
Sanari Capital Raises $80 Million to Scale Technology-Driven African Businesses
Sanari Capital, a South African private equity firm, has announced the successful final close of its Sanari 3S Growth Fund, raising R1.5 billion (approximately $80 million).
The fund aims to support mid-market businesses across Africa, focusing on those driven by technology, innovation, and sectoral growth trends.
Samantha Pokroy, Sanari Capital’s CEO, expressed enthusiasm about the milestone, highlighting the confidence it reflects in the firm’s investment strategy.
“With four investments already made and a strong pipeline of opportunities aligned with our themes, this capital allows us to execute at pace. We are optimistic about the positive impact on both the ground and the fund’s returns,” she said.
The fund has attracted a mix of institutional investors, including 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.
Sanari Capital’s investment model targets businesses with the potential to scale, offering investments of up to R250 million ($14 million).
Its current portfolio includes companies with around 60% of revenues in hard currency, a reflection of their export-oriented and geographically diverse operations.
Moushmi Patel, Sanari’s executive director, noted the increasing global demand for innovative South African businesses, adding, “We are continuously inspired by the compelling technology and innovation that thrive in our market.”
The fund’s existing portfolio includes 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 also emphasizes diversity, transformation, and economic impact. “Private equity has a pivotal role in transforming our economy,” said Sihle Gumede
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