PAPE Funds has made an investment in Entersekt, a device and identity solutions provider headquartered in Cape Town. The fund manager joins a group of notable shareholders in the business, including Accel-KKR, the US-based private equity firm, Nedbank Private Equity, and Rand Merchant Investment Holdings. As part of the transaction, PAPE will have a seat on the boards of Entersekt South Africa and Entersekt International. The size and value of the deal are not being disclosed.
According to Entersekt’s CEO, Schalk Nolte, the business will use the capital to “..further bolster operational support as we scale Entersekt in our strategic focus regions.” The company has been hiring more people to support its expansion plans into new markets recently and looks to be continuing that trend.
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