BUSINESS DAY / BL PREMIUM / 10 MAY 2021 - 13:40 / GARTH THEUNISSEN
UPDATED 10 MAY 2021 - 17:08
The asset manager is partnering with SME incubator Black Umbrellas to help emerging entrepreneurs gain access to growth capital
Mianzo Asset Management, which is one of only a handful of black asset managers in Cape Town, plans to raise R100m for a new debt fund it has launched with Black Umbrellas, an incubator focused on black-owned small and medium-sized enterprises (SMEs), to help emerging entrepreneurs gain access to growth capital.
The Cape Town-based firm and Black Umbrellas have started raising capital for the fund, which will provide loans to 51% black-owned SMEs based in SA and will be known as the Black Umbrellas Mianzo SME Debt Fund. The fund will be managed by Sifiso Simelane, head of alternative investments at Mianzo, who has extensive experience in financing broad-based BEE transactions after having worked at the National Empowerment Fund (NEF), the WDB Growth Fund and Kiwendo Capital Partners...
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