IFC invests in Metier fund
IFC has announced an equity investment of $25 million in Metier Capital Growth Fund III (MCGF III) as well as a co-investment envelope of $15 million to invest alongside the fund in select companies.
The fund, which will be managed by Metier Private Equity International, will invest in eight to 12 mid-market companies primarily in Southern and East Africa. The fund will invest in sectors including telecommunications, fast-moving consumer goods, healthcare, non-banking financial services, manufacturing as well as infrastructure and energy. MCGF III will invest at least 40% of the fund outside of South Africa.
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