Novare Impact Investment Partners, a subsidiary of financial services group Novare Holdings, plans to raise R2bn in capital for investments spanning the renewable energy, agriculture and manufacturing sectors.

The impact fund, which was started in September 2020, has raised R170m or about 9% of its targeted capital amount from an institutional investor and is aiming to raise half the R2bn capital it seeks by end-June, according to Benedict Mongalo, MD of Novare Impact Investment Partners. The fund expects to raise the full R2bn over the next 12-months though it may raise more capital up to a maximum of R3bn over that time frame, depending on investor appetite...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now