Tovia Capital · South Africa
Tovia Capital provides fast, asset-backed mezzanine finance to experienced commercial property investors navigating the gap between senior bank debt and available equity. We move at the speed of opportunity.
The Gap We Fill
In South Africa, smaller commercial property deals — R20m to R100m in total capitalisation — are increasingly difficult to finance optimally. Senior banks fund 50–60% of value. Equity supplies a portion of the remainder. The gap is real, persistent, and rarely served well.
We are the deliberate tool that closes that gap. Mezzanine is not a last resort — it is a way to amplify equity returns without diluting ownership. For the right deal, structured right, the math is unambiguous.
And unlike institutional mezzanine providers, we move quickly: indicative terms within five business days, drawdown in two to six weeks, no minimum fund sizes that exclude smaller deals.
Programme at a Glance
The headline terms below are real. The complete credit policy, equity-kicker structure, and intermediary programme are documented in our investor pack.
Sized for deals other lenders consider too small to bother with — and too important to mishandle.
Aligned to the typical hold period for value-add and bridge transactions. Extensions considered.
Pure cash interest. Or, reduced to 19–22% where an equity participation is agreed.
Senior debt plus mezzanine, on independently valued asset. Disciplined leverage — not racy.
Second registered bond plus personal surety from borrower. We expect alignment.
From submission to registration. No credit committee that takes months. Decisions in days.
Who It's For
Our underwriting starts with the borrower. We work with people who have done this before, on assets that produce income, in markets we understand.
The Asset
The Borrower