South African venture fund Secha Capital raises $16m from blue-chip investors

By Thulani Mpofu September 28, 2023

Secha Capital (Secha), a South African group that invests in growth-stage small and medium-size enterprises (SMEs) on the continent, has announced the first close of its second fund which has raised about $15.6mn.

Techfinancials quoted a release by Secha on September 26 indicating that blue-chips - RMB Ventures, 27four Investment Managers (27four), The SA SME Fund and Caleo Capital – are among the investors.

“We are a young and diverse team. We bring operating expertise to ‘heartbeat-of-the-economy’ growth stage companies via our strategy consulting, finance and entrepreneurial backgrounds,” said Brendan Mullen, Secha’s co-founder.

“We believe that our operator-investor model will re-imagine African investing and we are proud to have the support of some the greatest investors on the continent to do so.”

Secha invests in companies across sectors in southern Africa that are making the tech-enabled transition into the green economy.

The first close of the $34mn fund enables it to deploy its unique operator-investor model.  Its second fund will follow a similar mandate and has already made four investments - iG3N, Cultura Fresh, Herbivore and FarmTrace.

RMB Ventures is a subsidiary of South Africa’s FirstRand Limited, the largest financial services group in Africa by market capitalisation. 27four is a diversified global financial services group which invests money innovatively, helps pension funds “make the right decisions” and supports small independent asset managers.

Brian Waweru of RMB Ventures said they are impressed by Secha’s growth-stage investment strategy.

Ridwaan Kajee of 27four Investment Managers commented: “Secha’s operator-investor value-add model is the first of its kind. We believe that this is an inherent organisational strength that will deliver financial and impact returns. Secha has demonstrated that the model works and is replicable and we’re proud to therefore back this team to scale the model and showcase a new approach to investing in Africa.”

Secha expects its second fund’s final close in September 2024.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Kenyan lawmakers move to regulate, tax cryptocurrencies

Kenya has set in motion plans to regulate and tax the fast-expanding cryptocurrency industry, a development that will result in about 4mn Kenyans being subjected to taxation. Parliament’s ... more

Three renewables-focused entities sign power purchase deal for Zambian solar energy project Ilute

Africa GreenCo Group (GreenCo), Serengeti Energy and Western Solar Power have signed a power purchase agreement  (PPA) for the 25-MW Ilute Solar PV Project (Ilute Solar) in western Zambia. ... ... more

Could the DRC become the Saudi Arabia of the electric vehicle age?

Perhaps no country has more to gain from the ‘clean’ energy transition than the Democratic Republic of the ... more

Follow Us On

Most Read

  1. LONG READ: The boomerang effect: sanctions hurt Europe more than Russia
    6 days ago
  2. Putin's approval rating up to 85% in November, Russians happy with the country's direction
    4 days ago
  3. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    1 month ago
  4. Top Ukrainian politician David Arakhamia gives seventh confirmation of Russia-Ukraine peace deal agreed in March 2022
    11 days ago
  5. Former Kazakh leader Nazarbayev confesses to polygamy with Miss Kazakhstan 1999
    2 days ago
  1. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    1 month ago
  2. Top Ukrainian politician David Arakhamia gives seventh confirmation of Russia-Ukraine peace deal agreed in March 2022
    11 days ago
  3. Russia overtakes Germany to become fifth biggest economy in the world in GDP on a PPP basis
    4 months ago
  4. Armenia marks new era with French military purchases
    10 days ago
  5. Lavrov confirms Ukraine war peace deal reached last April, but then abandoned
    2 months ago

Reports

SELECT `n`.`nid` AS `id`, `n`.`title`, 'bne IntelliNews' AS authors, 'bne IntelliNews' AS bylines, `wc`.`field_website_callout_value` AS `summary`, `smc`.`field_social_media_callout_value` AS `social`, `pd`.`published_at` AS `date`, `p`.`field_publication__tid` AS `publication_id`, `fm`.`uri` AS `image`, `fspcaption`.`field_story_photo_caption_value` AS `image_credit`, `fspcredit`.`field_story_photo_credit_value` AS `image_author`, `ws`.`field_website_sections_tid` AS `section_id`, `fdfs`.`field_subject_tid` AS `subject_id`, `db`.`body_value` AS `body`, `fm2`.`uri` AS `pdf`, `et`.`field_enable_tracking_value` AS `tracking`, `ht`.`field_head_tags_value` AS `headTags`, `bt`.`field_body_tags_value` AS `bodyTags` FROM `node` AS `n` LEFT JOIN `field_data_field_website_callout` AS `wc` ON wc.entity_id = n.nid LEFT JOIN `field_data_field_social_media_callout` AS `smc` ON smc.entity_id = n.nid LEFT JOIN `publication_date` AS `pd` ON pd.nid = n.nid LEFT JOIN `field_data_field_publication_` AS `p` ON p.entity_id = n.nid LEFT JOIN `field_data_field_story_picture` AS `sp` ON sp.entity_id = n.nid LEFT JOIN `file_managed` AS `fm` ON fm.fid = sp.field_story_picture_fid LEFT JOIN `field_data_field_story_photo_caption` AS `fspcaption` ON fspcaption.entity_id = n.nid LEFT JOIN `field_data_field_story_photo_credit` AS `fspcredit` ON fspcredit.entity_id = n.nid LEFT JOIN `workflow_node` AS `wn` ON wn.nid = n.nid LEFT JOIN `field_data_field_website_sections` AS `ws` ON ws.entity_id = n.nid LEFT JOIN `field_data_field_subject` AS `fdfs` ON fdfs.entity_id = n.nid LEFT JOIN `field_data_body` AS `db` ON db.entity_id = n.nid LEFT JOIN `field_data_field_file` AS `ff` ON ff.entity_id = n.nid LEFT JOIN `file_managed` AS `fm2` ON fm2.fid = ff.field_file_fid LEFT JOIN `field_data_field_enable_tracking` AS `et` ON et.entity_id = n.nid LEFT JOIN `field_data_field_head_tags` AS `ht` ON ht.entity_id = n.nid LEFT JOIN `field_data_field_body_tags` AS `bt` ON bt.entity_id = n.nid WHERE (n.status = 1) AND (n.type = 'article') AND (n.nid = 294619) AND (wn.sid= 3) AND (p.field_publication__tid IN (2465,2851,3184,3159,3266,3264,3270,3265,3267,3268,3269,3171,3168,3185,3170,1346,1345,3180,3175,3254,3249,1207,1208,3181,3231,3177,3186,3178,1003,3187,2975,3204,3198,3188,3202,3196,3250,3189,3160,3161,3312,3313,3173,3314,3315,3167,3259,3257,3263,3258,3260,3261,3262,3174,3316,3165,3192,3163,3282,3190,2811,3256,3317,3162,3318,3191,3297,3182,3179,3166,3319,3376,3320,3172,3255,3169,1008,3203,3197,3321,3252,3164,1307,3322,3183,3220,3176,3201,3323,1327,1020,1006,1009,1013,1014,1018,1005,1328,1010,1011,1002,1012,1311,1330,1017,1016,1019,1004,1001,1334,1335,1336,1015,1337,1338,1339,1340,1341,2496,2501,2517,2529,2506,2505,2524,2513,2526,2537,2489,2490,2520,2536,2488,2532,2500,2515,2503,2493,2527,2523,2510,2525,2498,2499,2528,2507,2487,2511,2521,2502,2491,2519,2497,2492,2514,2495,2509,2512,1629,3358)) LIMIT 1
Dismiss