Secha Capital, the South African impact investment fund manager, is backing Stoffelberg Biltong in an undisclosed deal. The transaction is being made on behalf of Secha Capital VCC, a 12J investment vehicle established in partnership with Caleo Capital earlier this year to back established small and medium-sized businesses in the country’s FMCG and agribusiness sectors.
Secha Capital views South Africa’s biltong market as being large, defensible, fragmented and, surprisingly, but importantly, dormant. As such, the firm sees an opportunity to build a producer of high quality products and reinvigorate the market. The strategy will be to expand the reach of Stoffelberg Biltong, which is currently sold in approximately 100 stores across the country, by investing in marketing and expanding the product’s sales channels.
“We are thrilled and proud to partner with the team at Secha Capital,” said Oom Stofell, the company’s founder. “We know meat. We know biltong. By working together, we can bring additional growth capital and build out the sales and marketing team so that more people can gain access to our delicious, quality biltong.”