South Africa–based Infra Impact Investment Managers Proprietary has raised ZAR 250 million ($17 million) in a first close target of its maiden institutional fund, the Infra Impact Mid-Market Infrastructure Fund 1.
The fund is seeking to raise total capital commitments of ZAR 1.5 billion ($billion) in capital commitments.
“We are proud of achieving our first close in a challenging environment against a backdrop of the COVID-19 pandemic,” stated Mark van Wyk and Mornee Edas, co-founders of Infra Impact. “We believe that our fund investments will allow entrepreneurs to contribute to creating sustainable economic growth and job creation.”
The Infra Impact Mid-Market Infrastructure Fund 1 will provide growth capital for South Africa–focused mid-market infrastructure businesses.
While the drivers of change remain complex, Infra Impact said, the firm believes it is positioned to develop and maximize the growing interest in the infrastructure sector.