Tamela Mezzanine Debt Fund I invests in The Digs, helping address the shortage of student accommodation
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Tamela Capital Partners today announced that Tamela Mezzanine Debt Fund I (“Tamela” or “the Fund”) has provided growth capital to The Digs – a company that provides modern purpose-built student accommodation (“PBSA”) at Stellenbosch University’s medical and health science campus. This investment will increase The Digs’ student portfolio from 125 to 250 beds for undergraduate and post-graduate students, providing a secure learning environment in close proximity to Tygerberg hospital and campus. This investment is aligned to the Fund’s focus on growing emerging industries by supporting entrepreneurs and thus contributing to the country’s socio-economic development.
Vusi Mahlangu, Partner at Tamela Capital Partners said: “We are proud to partner with The Digs which is an innovative company that has managed to successfully demonstrate growth and impact within student accommodation. We are also pleased by their expansion plans considering the company was founded a mere 3 years ago. The Digs provides a conducive learning environment for many deserving students which further supports Tamela’s commitment towards education in South Africa.”
Andre Krige, CEO of The Digs said: “We are excited to have secured Tamela’s investment to help us achieve our growth objectives while improving education outcomes. This partnership with Tamela will add to the value of our business allowing us to create sustainable, scalable, and secure student accommodation. This is a key milestone for our growth plans which includes the development of a new site of an incremental 125 beds. This will lead to the creation of approximately 150 jobs over the duration of the project.
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