Vantage Capital, a fund manager in Africa, has provided US$8.9mn mezzanine financing to Equity Invest SA, a tech funding company based in Morocco
The mezzanine fund is the 28th mezzanine transactions across South Africa, Morocco, Côte d’Ivoire, Ghana, Nigeria, Uganda, Kenya, Mauritius, Namibia, and Botswana.
The fund was used to support six Moroccan technology companies that offer:
-Integration of electronic security solutions including anti-intrusion systems, access control, video surveillance, fire detection, RFID technology and banking security.
-Integration of multimedia audiovisual systems.
-Design and integration of photovoltaic solutions for companies in the sectors of industry, services and agriculture.
-Operation of innovative payment solutions, including the management of online payments by credit card, cash payments and prepaid card services.
-Development of information systems for e-health for health professionals working in laboratories or hospitals.
Vantage financing has enabled founder Ali Bettahi to obtain a majority stake in one of Equity Invest's flagship subsidiaries by facilitating the buyout of shares of an investment fund, SME Growth, managed by AfricInvest.
Vantage will support Equity Invest and its various subsidiaries in their respective organic and external growth over the coming years. Equity Invest plans to strengthen 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, the founder of Equity Invest, said, “Vantage has taken a pragmatic approach to work with us and we appreciate their rigour, efficiency and professionalism. We welcome Vantage, our newest financial partner, and look forward to a mutually beneficial relationship over the next few years.”
