Investec-Backed Revego Lands $62 Million for South Africa Energy

Revego Africa Energy Fund raised 1 billion rand ($62 million) in its first capital-raising round since 2021 as the Investec Bank Ltd.-backed firm seeks to bankroll renewable power projects in South Africa.

The fund now has a portfolio of 3 billion rand, thanks to a 500 million-rand investment from UK development-finance institution British International Investment Plc, known as BII, and the same amount from South African pension administrator Alexander Forbes Group Holdings Ltd.