Vantage Capital, Africa’s largest mezzanine fund manager announced today that it has provided €8 million of mezzanine funding to Equity Invest S.A., the holding company for six Moroccan technology companies operating in electronic security solutions, audio-visual multimedia systems, photovoltaic solutions for companies, payment solutions as well as e-health information systems for health professionals. Vantage Capital’s funding has enabled the founder (Ali Bettahi) to secure a controlling equity stake in one of Equity Invest’s flagship subsidiaries by facilitating the buy-back of equity from private equity investor (PME Croissance) that is exiting its investment. Equity Invest plans to reinforce its position in the Moroccan market by adding more technology companies to its portfolio and developing new markets in the rest of Africa.
Ali Bettahi (founder of Equity Invest) said, “Vantage has adopted a pragmatic, solutions-based approach to working with us and we appreciate their diligence, efficiency and professionalism. We welcome Vantage as our newest funding partner and look forward to building a mutually beneficial relationship over the years to come.”
This transaction represents Vantage Capital’s 28th mezzanine transaction across three generations of mezzanine funds with its portfolio of mezzanine investments now spread across ten countries in Africa. Outside of South Africa, Vantage has now invested in eleven transactions across Morocco, Côte d’Ivoire, Ghana, Nigeria, Uganda, Kenya, Mauritius, Namibia and Botswana. Equity Invest is Vantage’s first investment in Morocco and second in Francophone Africa.
Vantage Capital which raised US$150 million in Mezz Fund 1, US$240million in Mezz Fund 2 and US280 million in Mezz Fund 3. Vantage Capital is well-positioned as Africa’s leading Mezz financier, capitalising on its strong position in the South African mezzanine market and building a portfolio of income generating mezzanine assets in South Africa and in the rest of Africa.