R100m to R500m per deal: the businesses this SA fund wants
JOHANNESBURG — Infinite Partners has secured R2.8 billion for investments in established South African businesses, with its first two deals pointing towards opportunities in software and digital infrastructure.
The private equity firm announced the final close of its Core Equity Fund II on 6 October, exceeding its R2.5 billion fundraising target by R300 million, or 12%.
All the capital came from South African institutional investors, including pension funds, insurers, asset managers and banks. The fund typically invests between R100 million and R500 million in individual businesses.
Its mandate covers growth capital to support expansion and replacement capital, which can allow existing shareholders to sell their stakes. It targets established mid-market companies with opportunities to develop products, reach new customers and enter additional markets.
The fund has already invested in e4, an enterprise software business serving the banking and property sectors, and CYNK, which develops and owns digital infrastructure.
According to Infinite Partners, its investment in e4 has supported product development and international expansion, including a developing UK operation. CYNK’s infrastructure, meanwhile, reaches more than 667,000 households, primarily supporting fibre access in underserved communities and townships.
Co-founder and CEO Edward Pitsi said the firm focuses on businesses with strong growth prospects and the potential to build lasting value. Infinite Partners says further investments are planned over the coming months.
The firm is wholly founder- and black-owned, majority black female-owned and Level 1 B-BBEE certified.
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