Fund vehicle

Ascension Private Equity Fund I

Compiled from public sources

Ascension Private Equity Fund I is a Growth/Expansion fund focused on the South African mid-market, managed by Ascension Capital Partners, a majority Black-owned private equity fund manager. The fund's purpose is to invest equity capital into mid-sized enterprises that demonstrate strong historical performance and are scalable. The fund operates as a sector-agnostic fund, targeting innovative businesses across various sectors, including manufacturing, logistics, healthcare, financial services, and technology. While the primary geographic focus is South Africa, the fund has the ability to make follow-on investments in portfolio companies looking to expand into the wider Sub-Saharan African region (limited up to 20% of total commitments). The fund achieved its first close in June 2021.

Manager

Ascension Capital Partners (Pty) Ltd

Vintage

2021

Strategy

Private Equity

Target size

$104.7m

Size

$24m

Status

Active