Key Takeaways
- • Edge Growth's Ignite Fund provided R3.5 million (about $210,000) in growth debt financing to uNotho Holdings, a South African waste management and logistics company serving the mining sector.
- • The financing enables uNotho to deliver against an existing commercial opportunity with Seriti Power, including the supply and delivery of two waste trucks.
- • The transaction required co-funding with other lenders because the Ignite Fund's mandate limit is R3.5 million, according to Edge Growth deal maker Khanye Nene.
- • The Ignite Fund is a multi-investor small business financing initiative, supported by companies including Seriti Holdings, established in 2023 to back SMEs outside traditional funding brackets.
Summary
Edge Growth's Ignite Fund has provided R3.5 million (about $210,000) in growth debt financing to uNotho Holdings, a waste management and logistics company serving South Africa's mining sector, according to Africa Private Equity News. The funding supports a commercial opportunity uNotho had already secured with Seriti Power, allowing the company to execute the supply and delivery of two waste trucks for the mining and energy customer.
The Ignite Fund is one of the newest additions to the Edge Growth fund management portfolio. It is a multi-investor small business financing initiative supported by companies including South African mining and energy company Seriti Holdings. Established in 2023, the fund aims to provide early-stage capital and developmental support to small and medium-sized enterprises that fall outside traditional funding brackets.
Khanye Nene, deal maker at Edge Growth, said the transaction was unique because it required co-funding with other lenders, given the fund's R3.5 million mandate limit. He described the process as presenting several challenges and valuable learning opportunities.
Founded in 2018, uNotho delivers integrated waste management solutions, bulk hauling, commodity transportation and machinery rental to the construction, mining and industrial sectors. The company is headquartered in Mpumalanga, with branches in the North West and Gauteng provinces. Makhosi Khoza, founder and managing director of uNotho Holdings, said the funding was meaningful in enabling the company to execute the Seriti Power order and credited Edge Growth with making the transaction possible.
The Ignite Fund is one of the newest additions to the Edge Growth fund management portfolio. It is a multi-investor small business financing initiative supported by companies including South African mining and energy company Seriti Holdings. Established in 2023, the fund aims to provide early-stage capital and developmental support to small and medium-sized enterprises that fall outside traditional funding brackets.
Khanye Nene, deal maker at Edge Growth, said the transaction was unique because it required co-funding with other lenders, given the fund's R3.5 million mandate limit. He described the process as presenting several challenges and valuable learning opportunities.
Founded in 2018, uNotho delivers integrated waste management solutions, bulk hauling, commodity transportation and machinery rental to the construction, mining and industrial sectors. The company is headquartered in Mpumalanga, with branches in the North West and Gauteng provinces. Makhosi Khoza, founder and managing director of uNotho Holdings, said the funding was meaningful in enabling the company to execute the Seriti Power order and credited Edge Growth with making the transaction possible.
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