Tamela Capital Partners today announced that Tamela Mezzanine Debt Fund I has provided growth capital to The Digs…
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.
About Tamela Capital Partners:
Tamela Capital Partners is one of the few credit-oriented alternative asset managers in Sub-Saharan Africa, with a focus on delivering attractive risk-adjusted returns and capital preservation for our investors. Tamela provides funding of between R50 million and R200 million to corporates in South Africa, Namibia, Botswana, and Lesotho seeking capital for growth, refinancing, and expansion. Tamela’s focus on capital protection and ability to create partnerships with management teams enables us to provide appropriate funding solutions to clients.
About The Digs:
The Digs is an innovative student accommodation business located near the Stellenbosch University Medical and Health Sciences faculty. It was founded in 2019 when a Stellenbosch University Tygerberg 125-bed residence was acquired and thereafter, substantially re-developed. It offers modern student accommodation with high-security, fast-connectivity and a studious environment within the Health Sciences and Medical community. The Digs seeks to create a scalable student accommodation brand where new sites will be acquired for redevelopment.
For more information contact: Vusi Mahlangu | Cell: +27 10 443 4615 | Email: vusi@tamela.co.za
Issued by Brunswick on behalf of Tamela: Kwanele Mdletshe | +27 66 307 4734 | kmdletshe@brunswick.co.za