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SPEAR Capital invests in South African e-commerce retailer – BusinessTech

Private equity firm SPEAR Capital recently invested 100 million South African rand in e-commerce fashion retailer RunwaySale (Pty) Ltd., BusinessTech reported.

The Cape Town, South Africa-based retailer will use the investment in part to support marketing, stock and production growth.

RunwaySale also named Christophe Gaigneux, a former online chief executive for TJ Maxx's European division, to its advisory board.

As of May 22, US$1 was equivalent to 17.71 South African rand.