Vantage Capital fully exits $10million investment in Cap Tamarin

South African private equity firm, Vantage Capital, has fully exited its $10m investment in Cap Tamarin, a smart city development located in the town of Tamarin on the west coast of Mauritius, managed by Trimetys Group.

Vantage’s exit was reportedly financed by an equity and bond raise that also provided funds for further expansion of the development.

Vantage provided the investment in July 2018 to fund the infrastructure and amenities of the development, which included civil works, telecom works, electrical works, and construction of the park and bridges.

Roshal Ramdenee, Associate Partner at Vantage Capital, was cited as saying that the company’s commitment to supporting high-impact projects in Africa was demonstrated through their ability to provide flexible funding for the early-stage construction of the development when traditional banks were unwilling to do so.

Cap Tamarin has completed all major roads and bulk infrastructure as well as various phases including a supermarket, primary school, gas filling station, sports club, offices, and commercial units.

The development of a medical clinic, retirement village, and various residential units is underway.

Source: africaglobalfunds.com