Metier has successfully completed the first close of its Metier Capital Growth Fund III, securing just over $182 million in commitments. The fund, with a target size of $200 million, is poised to surpass its initial goal, with additional commitments expected by final close. Investors, including international development finance institutions, have shown optimism about investment opportunities in Africa and recognize Metier’s track record of discerning investment selection and active value-adding management.
Key Points:
- Metier has achieved the first close of Metier Capital Growth Fund III, raising over $182 million, with further commitments anticipated before final close.
- The fund attracted investments from both international and South African investors, with notable contributions from international development finance institutions.
- Metier Capital Growth Fund III focuses on Sub-Saharan Africa, aiming to make equity and equity-related investments in mid-market companies in sectors benefiting from regional economic and demographic trends.
- The fund aims to have a positive impact on climate change, create quality jobs with a focus on gender-lens investing, enhance rural community connectivity, and foster business development across Africa.
Analysis: Metier’s success in reaching the first close of its Capital Growth Fund III demonstrates investor confidence in the potential of African markets. The fund’s focus on sectors aligned with regional economic and demographic trends highlights a strategic approach to investment. Metier’s commitment to delivering returns alongside positive and sustainable impact in Sub-Saharan Africa underscores its dedication to responsible investing.
Background: Metier’s previous fund, Metier Capital Growth Fund II, invested in a diverse range of sectors, showcasing the firm’s versatility in identifying opportunities across various industries. The successor fund, Metier Capital Growth Fund III, continues this legacy with a geographic focus on Sub-Saharan Africa. (Published by Market News Nigeria)