Sanari Capital has exited its investment in Fernridge Solutions, passing the baton to Broll Property Group, whose pan-African reach and expertise in real estate and technology position them well to lead the next phase of growth for the Johannesburg-based market intelligence and geospatial analytics firm.
Sanari’s investment – driven by its 3S model, which focuses on Sustainability, Scalability and Saleability – has strengthened Fernridge’s market position and created a strong platform for future growth. Under the investment theme Data is the New Gold, Sanari Capital’s investment in Fernridge aligns with the company’s belief in the strategic value of data and the power of insights to drive business intelligence – particularly through Fernridge’s proprietary dataset that maps decades of income and household data across more than 200 African cities.
Moushmi Patel, director at Sanari Capital, who led the deal, described the partnership with Broll as the next natural step in the business lifecycle for Fernridge, which had “transitioned away from the ‘old school’ static data methodologies to more real-time, deeply rich insights to enable businesses to navigate the ever-changing world of AI”.
“I am confident that this new partnership will cement Fernridge’s position as a leader in the fast-moving world of data services and market intelligence in Africa,” Patel said. “The targeted support and access to market that the relationship with Broll will unlock will enable the management team to continue to deliver on their mission and fulfil their expected long-term growth trajectory.”
Describing the deal as “about more than numbers”, Malcolm Horne, Group CEO of Broll Property Group, said it was about “partnerships, the future, AI, opening doors, and shaping a real estate landscape in Africa where decisions are driven by knowledge and possibility”.
“Africa is full of opportunity, but to unlock it, we need better insights, more technology, and smarter data,” Horne said. “As part of our ongoing commitment to build a locally driven yet internationally competitive property sector, we are investing in this area of our business. This will enable both investors and occupiers across the continent to make informed decisions and anticipate trends.”
Horne expressed confidence in the continuity of the Fernridge Solutions management team. Fernridge CEO Marinus van der Merwe welcomed the partnership with Broll, saying it would enable Fernridge to scale its digital offerings across the continent.
“Broll’s ability to serve some of Africa’s largest landlords and occupiers, combined with their professional integrity, depth and reach makes them the perfect partner. With their expertise in both real estate and technology, they share our long-term vision for digital innovation and African growth.”
Extending “heartfelt thanks to Sanari Capital, our outgoing private equity investor”, Van der Merwe said “their exit reflects a remarkable commitment to backing high-growth businesses and delivering strong returns for their investors while creating sustainable value”.
He added: “Sanari’s belief in our mission, support in strengthening governance, and guidance through this growth phase have been truly invaluable. We look back on this journey with deep gratitude.”
Samantha Pokroy, Sanari founder and CEO, said the exit was bitter-sweet for Sanari. “Fernridge was Sanari’s first investment and therefore a meaningful milestone in our journey. The success of the partnership and the potential implicit in this exit talk to our belief in the power of private equity to transform growth companies in Africa. We wish Fernridge well in their next stage of growth and expect to see them scaling new heights with the support of Broll.”