Summit Africa, the investment manager founded by Gauteng-based private equity leader Tomi Amosun, has acquired a 40 percent stake in Virtual Farmer, an agricultural supply and finance marketplace operating across South Africa, Namibia, Zambia and Mauritius, as it targets deeper institutional funding for a sector producing more than $30.2 billion annually in South Africa.

Summit Africa targets farm finance

The investment was made through Summit Private Equity Fund II and will support Virtual Farmer’s expansion across Southern Africa, broaden access to finance for commercial farmers and fund new marketplace capabilities. The deal adds agriculture and food security to Summit’s investment focus as it seeks opportunities tied to essential economic needs and institutional capital.

“The Summit Private Equity Fund II was launched in 2025 with the support of our institutional clients,” Amosun, managing partner of Summit Africa, said. “We are pleased to be partnering with Virtual Farmer to unlock further institutional funding into a sector that produces over R500 billion ($30.2 billion) of output annually in South Africa alone.”

Summit expands sector focus

The transaction gives Virtual Farmer a new source of capital as it expands a platform connecting agricultural supply with financing. Its operations across four Southern African markets position the company to serve commercial farmers while Summit seeks to scale investments in sectors where limited supply creates opportunities for both financial and social returns.

Founded in 2016, Summit Africa invests in sectors where persistent under-supply can support financial returns alongside job creation, economic transformation and community development. Its first private equity fund invested in health care facilities serving rural, peri-urban and township communities, while its education investments have focused on higher education and skills training.

Summit’s financial services investments have targeted inclusion for individuals and small, micro and medium enterprises. Fund II, launched with institutional backing in 2025, broadens that mandate to include food security across South Africa and the wider Southern African region, alongside financial services and information and communications technology services.

Amosun brings deal experience

Amosun has worked across private investments, listed investments and real estate in South Africa and sub-Saharan Africa, with over R75 billion ($4.52 billion) in corporate and investment transactions, according to Summit Africa. His experience includes mergers and acquisitions, private equity advisory, restructurings, listings, B-BBEE transactions and capital raising.

As a co-founder of Summit Africa, Amosun has helped shape the firm’s investment strategy across sectors and markets. He is also a fellow of the Archbishop Desmond Tutu Leadership Institute and was recognized by the Association of Black Securities and Investment Professionals as a Game Changer in the financial sector in 2013.