One Thousand & One Voices (1K1V), a private family capital fund focused on Sub-Saharan Africa, has made its first investment in the South African agribusiness sector via its $300m One Thousand & One Voices Africa Fund I.

The investee company is RedSun Dried Fruit & Nuts, a privately-owned processor and distributor of high-quality raisins in the Northern Cape Province of South Africa.

Hendrik Jordaan, President and CEO of One Thousand & One Voices, said: “After an extensive evaluation of a significant number of investee companies, we chose to invest in RedSun because it is a leading company in one of Sub-Saharan Africa’s fastest-growing and most important sectors and is very well positioned to benefit from our three-dimensional capital model.”

The three-dimensional capital model is the relational capital, intellectual capital and patient financial capital of leading families who offer investee companies access to their business relationships in their respective industries and geographies, as well as their business insights and expertise.

“Inherent in our new private investment model is a highly discerning investment approach that targets top returns and job creation through the deployment of three-dimensional capital,” added Jordaan.

1K1V said the investment will help RedSun to expand its reach and market share in the rapidly growing dried fruit and nut market, which continues to grow as global food demand increases.

While prices for raisins have remained relatively stable, average global consumption of raisins has increased by 17% from 2008 to 2013.

Given that South Africa is a low cost producer of high quality raisins, global demand for South African raisins continues to increase as worldwide consumption increases.

Sub-Saharan Africa’s large amount of underutilized arable land, coupled with increased demand for agricultural products worldwide, positions agribusiness to be a key driver of the region’s economic development.

As a consequence of the Fund’s investment, RedSun expects to double its current workforce over the next year, as well as create a significant number of indirect jobs.

RedSun, whose products include varieties of golden, Thompson and sultana raisins produced along the banks of the Orange River, has a strong history of growth.

Since inception, the company has become one of the four largest processors in South Africa, producing up to 7,225 tons annually, of which over 95% have been sold to the export markets in Europe, North America, South America and the Far East.

Peter Kuilman, CEO of RedSun, said: “RedSun has an exceptional reputation for processing quality products, which has enabled our track record of success in our home market.”

“This investment offers a valuable opportunity for us to actively collaborate with One Thousand & One Voices’ highly skilled private family capital team on the ground in South Africa and leverage the unique Intellectual and Relational Capital of some of the world’s leading families to continue igniting our growth in domestic and international markets,” he said.

1K1V commenced operations in 2014 after being announced at the World Economic Forum on Africa in the prior year.