Infra Impact Investment Managers Proprietary Limited (Infra Impact) has reached the first close target of ZAR 250 million (US$ 17.05 million) for its maiden institutional fund, the Infra Impact Mid-Market Infrastructure Fund 1. The Fund is seeking to raise total capital commitments of ZAR 1,500 million (US$ 102.60 million).

The Fund aims to provide growth capital for South African-focused mid-market infrastructure businesses, which own real assets that provide essential services and that have value creation potential. The Fund will engage in a mid-market, value-add infrastructure strategy in sectors such as water, waste, energy, telecommunications and others related.