Actis will take a significant minority stake in the company, which has over 265 stores across South Africa.
Actis Director David Cooke will join the Tekkie Town Board and Braam van Huyssteen will remain executive chairman of Tekkie Town.
Cooke said: "Braam and his team have built a fantastic business targeting the consumer segment that aligns with our investment strategy – brand aspirational, emerging middle class consumers who are looking for quality products at real value.
“We look forward to partnering with Braam to help the business continue its impressive growth in South Africa and to expand to other countries in the continent."
Van Huyssteen said: "I am excited to have Actis on board.
“With its excellent track record of investing in South Africa and deep understanding of the African retail market, I am confident that together we will develop the business into a multi-national customer centric operation.”