South Africa’s Vantage Capital has exited its investment in Cap Tamarin, a smart city development in Mauritius, which is managed by Trimetys Group.
The mezzanine debt fund manager’s exit was financed by an equity and bond raise that will also go towards the development’s further expansion.
Roshal Ramdenee, Associate Partner at Vantage Capital, said “Vantage is pleased to have supported Cap Tamarin, a project with significant potential for both the local community and investors. Our ability to provide flexible funding for the early-stage construction of the development, when traditional banks were unwilling to do so, highlights our commitment to supporting high-impact projects in Africa.
In 2018, the firm invested USD 10mn to fund the development’s infrastructure at a time when banks were unwilling to fund it at an early stage.