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Vantage Mezzanine Fund

Region and countries in which the fund invests: Pan-Africa
Jurisdiction of registration: South Africa
Business sector: Agnostic
Date of agreement (month/year):  6/2022
Size and share of Finnfund’s financing (commitment): USD 20,000,000
Environmental and social category: FI-B
Names of the companies financed by the fund:

Name Sector Region Country
Seaton Estates Real estate Africa South Africa
Sky Realty Real estate Africa Egypt

In the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the final closing of the fund.

Brief description

Vantage Mezzanine Fund IV (the “fund”) is a Pan-African generalist mezzanine fund managed by Vantage Capital. The fund aims to build a portfolio of 12-20 investees (combined across the two sub-funds/one Pan African, and one Southern African). The fund is sector agnostic.

Main development impact

Many fast-growing businesses in Africa do not have the required scale or collateral to attract sufficient bank debt to support their growth objectives. Mezzanine financing helps these businesses to expand their consumer base, build a track record and prove that their business models are both scalable and profitable. Vantage Capital’s mezzanine financing aims to support these companies and enable them to access senior debt subsequently. The Manager is one of the very few providers of mezzanine financing in Africa.

Other expected impacts include job creation, local purchases and taxes, which will be monitored at the portfolio company level.

Last modified: May 2023