Spear Capital has agreed to invest in R100-million in e-commerce fashion retailer RunwaySale. RunwaySale offers exclusive online access to designer labels at up to 70% off for a limited time on a variety of mens, ladies, kids designer apparel, shoes, accessories and more. The investment is expected to improve marketing and artificial intelligence technology in a company that has been growing exponentially since its establishment in 2012.
Spear Capital provides growth capital to SMEs focused on fast moving consumer goods (FMCG) and local production in a few carefully selected countries. The engagement of development finance institutions and institutional investors ensures that environmental, social and governance (ESG) issues are the value drivers. The firm is located in Cape Town (South Africa) and Harare (Zimbabwe) and has a fund raising office in Oslo (Norway). The limited partners of Spear Capital are Holta Invest as well as Norfund. The stake acquired of RunwaySale was not disclosed.