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Financial|Services
Financial|Services
financial|services

ARC Investments sets out to raise R750m to invest in ARC Fund

21st November 2023

By: Creamer Media Reporter

     

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Empowerment investment holding company African Rainbow Capital (ARC) Investments plans to raise R750-million through a fully committed and underwritten non-renounceable rights offer.

The rights offer is aimed at raising additional capital for ARC Investments to invest in the ARC Fund for use in its existing portfolio companies, as well as for future acquisition opportunities.

The ARC Fund will continue to invest in terms of its investment strategy and mandate, focusing on new market expansions for mobile data provider Rain Group Holdings; continued expansion opportunities at financial services provider Tyme; and supporting the investment strategies of various fast-growing ARC Fund investee companies such as Autoboys, Linebooker and Apollo.

ARC Investments states that the rights offer funding should be sufficient to meet the medium-term funding requirements of the ARC Fund, considering that a number of companies in the portfolio are maturing and that the combined portfolio is expected to become more cash-generative during the next 12 months.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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