Metier Capital Growth Fund III reaches a final close of $219m
The fund has attracted investment from both international and South African investors.
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Metier has announced the final close of its Metier Capital Growth Fund at $219 million, exceeding its targeted fund size of $200 million.
“We are pleased with the support shown by our investors to Metier and for this result given the tough fundraising climate the African private equity industry is experiencing,” said Paul Botha, CEO and co-founder of Metier.
Peter Maila, co-chief investment officer at FMO, the Dutch entrepreneurial development bank, commented that, “FMO is proud to continue its long-standing partnership with Metier through its commitment in the Metier Capital Growth Fund III.”
The fund, which announced a first close in September 2023, has made three investments to date in portfolio companies in the telecommunications, information technology and energy sectors. Botha continued, “The fund is positioned to make additional investments before the end of this year given the vibrant deal pipeline we are observing. We seek opportunities that require growth capital with the potential to deliver top quartile returns and positive developmental impact.”
The fund has a geographic focus on sub-Saharan Africa and is expected to make eight to 12 equity and equity-related investments into mid-market companies with strong growth features in sectors that benefit from regional economic and demographic trends such as population growth and increased urbanisation.
The fund has attracted investment from both international and South African investors.
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